Noted fund manager and Ark Invest founder Cathie Wood on Saturday suggested that Artificial General Intelligence (AGI) will likely give a strong lift to economic growth.
The fund manager is of the view that a breakthrough in AGI will lead to the acceleration of GDP within the next six to 12 years. The analyst estimates that GDP growth will increase from the 3-5% year-over-year rate currently to 30-50% per year. "New DNA will win,' she added.
@ARKInvest must share more of our research about #artificialgeneralintelligence (AGI) and how it is likely to transform the way the world works. Within 6-12 years, breakthroughs in AGI could a accelerate growth in GDP from 3-5% per year to 30-50% per year. New DNA will win! https://t.co/RxVp8K4IK4— Cathie Wood (@CathieDWood) May 22, 2022
Wood's views came as a quote tweet of Ark Invest analyst Brett Winton, who shared a graphic showing that the estimated time to AGI has fallen by between 60-70% over the past two months.
"You could reasonably conclude that these revisions in estimated time to AI imply a change in the net present value of real GDP of ~100x (at a 10% discount rate.)," Winton said.
Findings from the research paper show that introduction of AGI would result in GDP doubling in about two years, notably faster than the 16 times without it, he added.
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