Pictet AM's Paolini: AI productivity gains to be offset by other factors in the next five years

Focus on industrials and healthcare

clock • 2 min read

Any productivity gains from AI will be balanced out by the negative impact of ageing populations, de-globalisation and China's slowing growth, chief strategist at Pictet Asset Management Luca Paolini said, as economic growth is expected to pick up moderately in 2024.

In January this year, the International Monetary Fund stated that around 60% of jobs in advanced economies would be impacted by AI, with around half benefiting from AI integration, which is expected to bolster productivity. Separately, speaking at the Future of Investment Festival on Wednesday (5 June), Royal London Asset Management head of sustainable investments Mike Fox argued generative AI would impact the latest round of technology products. This includes Apple's next iPhone cycle, which is expected to focus development in this area. Pictet launches investment research institute ...

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