Goldman Sachs predicts AI to boost S&P 500 by 30% in the next decade

Investment managers from Goldman Sachs believe that artificial intelligence could help increase the value of S&P 500 shares by a third over the next decade.

“AI could boost productivity by 1.5% a year over the next decade. And it could add 30% or more to the S&P 500 over the next decade,” Ben Snyder, the investment firm’s senior strategist, told CNBC on Thursday.

“Delfi Bizness” has previously written that artificial intelligence is already being introduced in the financial world as a support tool for fund managers.

The appearance of ChatGPT, a chatbot developed by OpenAI, has sparked interest in artificial intelligence technologies. It has also sparked renewed anxiety among investors, who want a new engine for earnings growth at a time when rising borrowing costs and supply chain problems have dampened optimism, according to CNBC.

“It appears that many favorable factors which [iepriekš] led to this (S&P 500) gain is going to change,” Snyder told US Media.

“But the real source of optimism now is productivity improvements through artificial intelligence.”

He noted that “in 1999 or 2000, during the tech bubble, it would have been very difficult to imagine that Facebook or Uber would change the way we live.”

Accordingly, it is hoped that robots will be able to analyze financial markets and data more effectively and, accordingly, trade more successfully.