Analysing the causes and effects of the secular decline in productivity growth, and the impact of Artificial Intelligence.

Key Points

  • The long-term outlook for global growth is not promising, largely determined by declining working-age populations and weak investment.
     
  • The secular decline in productivity growth, especially in advanced economies is unlikely to improve in the near term.
     
  • Artificial Intelligence is promising, but its macroeconomic impact will take longer to move the productivity needle.
     
  • Investment in AI-related companies will continue at a healthy pace, which should support AI-related equities as an expanding sector.

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