The bank also highlighted artificial intelligence (AI) as a significant accelerator of growth, particularly in the healthcare and drug development sectors. It predicts that AI will catalyze substantial productivity enhancements across various sectors in 2024, similar to those sparked by the advent of electricity and personal computers.
Despite these optimistic projections, Ashish Shah, Goldman’s chief investment officer of public investing, warned of potential dangers stemming from the rise of AI. He expressed concerns about the potential threats posed by malicious actors exploiting advancements in AI technology, indicating a need for heightened defenses.
In addition to these concerns, Alexandra Wilson-Elizondo, head of multi-asset funds at Goldman Sachs, underscored the risk associated with the US Federal Reserve’s ability to manage price pressures and ensure a smooth transition for the world’s largest economy. While a soft landing is widely expected, Wilson-Elizondo urged investors to challenge this consensus view, considering the possible effects of rising interest rates on unemployment and price pressures.
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