How is AI reshaping the global economy?

In this episode, we dive into a recent Scotiabank report that unpacks how artificial intelligence might affect markets and the economy. Co-authors Rebekah Young, Vice President and Head of Inclusion and Resilience Economics at Scotiabank, and Walid Khalid, the Director of Investment Strategy at Scotia Wealth Management, walk us through the impact AI might have on jobs and productivity, whether there’s an ‘AI bubble,’ how investors should get their head around all of this and more. 

For more, read the highlights of the report or the full report here: Macro, Markets, and Machines: The Economic and Market Transformation Driven by AI 

For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures 

 

Key moments this episode: 

1:34 – Rebekah summarizes what her and her co-authors were trying to accomplish with this recent paper 

3:42 – How Walid looked at AI using an investing lens  

7:01 – How does the emergence and rapid development of AI technology compare to previous technological revolutions? 

8:41 – Is AI technology already helping productivity?  

13:55 – What about the concern around AI replacing jobs? Is there any merit to that? 

17:32 – What are the economic impacts that are already being felt from the increased adoption of AI? 

21:09 – Some numbers around the potential impact AI may have on productivity 

22:50 – Are we in an ‘AI bubble’? How does this compare with the ‘dot-com bubble’?  

30:39 – Summarizing the key takeaways from the report