AI could boost S&P 500 profits by 30% or more over the next decade, Goldman Sachs' strategist says
Artificial intelligence technology could boost S&P 500 profits to new highs over the next decade, according to a senior strategist at Goldman Sachs.
"Over the next 10 years, AI could increase productivity by 1.5% per year. And that could increase S&P 500 profits by 30% or more over the next decade," the Wall Street bank's Ben SniderAI has seen a huge surge in popularity since the debut of OpenAI's ChatGPT, with stocks including Santa Clara-based chipmaker"A lot of the favorable factors that led to that expansion earnings seem to be reversing," Snider said.
With AI dominating interest, it's got investors bullish about the future of productivity. Billionaire investor Paul Tudor Jones recently said that the introduction of large language AI tools like ChatGPT could unleash aMeanwhile Goldman's chief information officer said financial firms can use AI to"It's clear to most investors that the immediate winners are in the technology sector," Snider said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Goldman Sachs says A.I. could push S&P 500 profits up by 30% in the next decadeProductivity gains driven by artificial intelligence is a real source of optimism for future earnings growth among S&P 500 companies, Goldman Sachs says.
Read more »
Meet The Forbes 30 Under 30 Asia Class Of 2023Meet this year’s cohort of 30 Under 30 Asia honorees whose collective creativity and determination inspire optimism despite unfavorable circumstances.
Read more »
30 Under 30 Asia 2023: Meet The Entrepreneurs Using AI To Streamline B2B TasksOver three years of Covid-19 lockdowns, Bo Zhiyuan saw demand surge for his collaborative workplace platform Qingflow as Chinese companies started using remote working tools. Now, Bo is one this year's ForbesU30Asia: Enterprise Technology listers.
Read more »
Meet The Scientists, Biotech And Healthcare Entrepreneurs On The 30 Under 30 Asia 2023 ListMeet Zhao Yaran, one of the young entrepreneurs on this year’s Forbes 30 Under 30 Asia: Healthcare & Science list who see opportunity in the biotechnology sector. ForbesUnder30 ForbesU30Asia
Read more »
30 Under 30: Meet Asia-Pacific’s Brightest Music And Sports Stars Of 2023Michael Cheung Tin-fu used to be a familiar face in Hong Kong’s busy underpasses. Now known as MC, Cheung is a rising star on the local Cantopop music scene and among the artists and athletes on the ForbesU30Asia 2023 list. ForbesUnder30
Read more »
Meet The Forbes 30 Under 30 Asia Class Of 2023Meet this year’s cohort of 30 Under 30 Asia honorees whose collective creativity and determination inspire optimism despite unfavorable circumstances.
Read more »