A lot is riding on the AI boom, and it isn’t just the stock market surge. AI is being touted as an elixir for a number of serious economic challenges, according to Ruchir Sharma, chair of Rockefeller International.
In a Financial Times column on Sunday, the market veteran pointed out that the “immigration boom-bust cycle” that the U.S. is experiencing now is unprecedented in scale, swinging from a net gain of more than 3 million in 2023 to an expected trickle of just 400,000 this year. The drastic throttling in the labor force could slash U.S. growth potential by more than 20%.
