Artificial Intelligence and Economic Growth
Artificial intelligence is becoming an integral part of our lives. Some countries have even handed over official governance to artificial intelligence.
Meanwhile, the economy is experiencing a second wind through artificial intelligence.
AI Force and Special Czar Appointment
For this very reason, US President Donald Trump announced that he will create “Artificial Intelligence Forces” (“AI Force”) and appoint a special “czar” for artificial intelligence to oversee the development of the sector in the country.
Trump made this statement yesterday in a post on his Truth Social account. Rejecting criticisms against artificial intelligence and the data centers created to process this technology, he dismissed calls aimed at halting the technology sector’s development as a politically motivated “hoax.” The president stated that his administration will not hinder the growth of the artificial intelligence industry while simultaneously utilizing existing criminal and civil legal mechanisms to combat illegal and harmful activities.
Elon Musk’s GDP Forecast
American businessman Elon Musk believes that artificial intelligence can significantly accelerate the growth rate of the US economy. According to his forecast, artificial intelligence could roughly double US GDP growth next year, raising it from 2 percent to 4 percent.
Posting on the social network X, Musk stated that the impact of artificial intelligence on the economy could be even greater than expected. “My guess is that AI will roughly double US GDP growth next year – from about 2 percent to 4 percent. Maybe more,” he wrote.
Capital Expenditures and Tech Investments
According to information published by Reuters Breakingviews citing Torsten Slok of Apollo Global Management, annual capital expenditures related to artificial intelligence in the US could reach 3 percent of GDP between 2027 and 2029. Three years ago, this figure was approximately 0.6 percent.
Furthermore, based on calculations by Moody’s analysts cited by Reuters, major US tech companies plan to spend approximately $1 trillion on chips and data centers in 2027. This amount is many times greater than the expected $165 billion spending by rival companies in China.
