by Goldman Sachs - Global Research
Since the release of OpenAI’s generative AI tool ChatGPT in November, investor interest in generative AI technology has surged. The disruptive potential of this technology, and whether the hype around it—and market pricing—has gone too far, is Top of Mind. We speak with Conviction’s Sarah Guo, NYU’s Gary Marcus, and GS GIR’s US software and internet analysts Kash Rangan and Eric Sheridan about what the technology can—and can’t—do at this stage. GS economists then assess the technology’s potentially large impact on productivity and growth, which our equity strategists estimate could translate into significant upside for US equities over the medium-to-longer term, though our strategists also warn that past productivity booms have resulted in equity bubbles that ultimately burst. We also discuss where the most compelling investment opportunities in the AI space may lie today, and the near-term risks investors should most watch out for.
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