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AI Boom Risks Wall Street and Main Street

Bloomberg Markets •
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Nearly $33 trillion in market value has been added to the S&P 500 Index since the AI boom began in late 2022 when Open AI publicly released Chat GPT.

The heads of America’s leading AI development labs have started a national conversation about tapping the brakes on a technology that’s offering so much promise for society, while at the same time showing it can do a frightening amount of harm. It’s a debate that needs to be had, and a real solution invariably will be hard to come by.

But considering the trillions of dollars of investment gains and market value that have been built on the assumption that AI will keep growing at breakneck speed for years and years to come, what happens to Wall Street — and more importantly Main Street — if it doesn’t?