Cathie Wood Sees This Technology Accelerating GDP Growth To 50% Per Year

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.

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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.