By
Borsgade
Daniel Loeb, CEO and CIO of Third Point, gives his perspective on the markets here in early August 2023. Here he covers the current economic situation, which he views relatively positively: “Looking ahead, we see continued favorable economic conditions driven by declining inflation, which should eventually lead to less hawkish monetary policy“.
He sees a mild recession and one of the primary drivers of growth is, in Loeb’s view, the wide application and development of artificial intelligence (AI):
Against this economic backdrop, we believe Artificial Intelligence will have far reaching effects on the economy, public equities, and society, and understanding its impact is essential to successful stock selection. […].
While it is impossible to quantify precisely, we are confident that from a macroeconomic standpoint, AI will have enormous impact on labor productivity, business profit margins, and individual well-being, and act as a counter to the inflationary pressures that have emerged over the last few years. We expect enterprise applications to dramatically accelerate by the early part of 2024.
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