Former Cisco CEO John Chambers believes that artificial intelligence will be the driving force behind the stock market in the next decade. He mentions that AI will determine the success of technology-related stocks and predicts that AI stocks will outperform non-AI stocks in terms of profitability. Chambers mentioned that investing in an AI stock portfolio consistently for the next five to ten years could yield significant returns.
Chambers noted that a significant portion of venture capital in the US has been allocated to AI stocks, with the percentage expected to increase even further. He also highlighted the success of AI chip manufacturer Nvidia, whose shares have skyrocketed as demand for AI-related products grows.
Publicis president Maurice Lévy expressed optimism about the impact of AI on the job market, predicting a net positive result with the adoption of AI leading to job creation with added value.
Recently, the S&P 500 and Nasdaq Composite hit record levels as investors eagerly awaited Nvidia’s earnings. Chambers credited AI for the stock market’s significant movements over the past year and emphasized its transformative power, likening it to the impact the Internet had on society.
In conclusion, Chambers believes that AI will revolutionize every aspect of life and compares its potential to the Internet, but even more powerful. The continuous growth of AI in various industries is expected to shape the future of the stock market and economic landscape in the years to come.
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https://www.nbcboston.com/news/business/money-report/ai-will-power-the-stock-market-for-the-next-decade-former-cisco-ceo-says/3376500/