Why AI Will Spark Exponential Economic Growth | Cathie Wood | TED
TED
14 min, 42 sec
A detailed examination of the current technological revolution, its historical context, growth dynamics, potential economic impact, and implications for the future.
Summary
- Five innovation platforms are evolving simultaneously, unprecedented in history, which include AI, robotics, energy storage, blockchain, and multiomic sequencing.
- Historical growth assumptions are challenged by new models, with companies like Amazon demonstrating sustained growth rates previously considered unattainable.
- We are entering a period of real AI, leading to the convergence of general-purpose technology platforms, with potential explosive growth opportunities like autonomous taxi platforms.
- The speaker predicts an acceleration of global GDP growth, driven by productivity from new technologies, possibly reaching a six to nine percent range.
- Disruptive innovation is valued at $13 trillion and is expected to scale to over $200 trillion due to the convergence of technology platforms.
Chapter 1
![The speaker discusses the historical context of current innovation platforms, comparing it to the early 1900s when telephone, electricity, and automobile emerged.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NzU2NzIsInB1ciI6ImJsb2JfaWQifX0=--6e92d595d65c70fbbceaaac53c873f850de08ff0/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4413_35.jpg)
The speaker discusses the historical context of current innovation platforms, comparing it to the early 1900s when telephone, electricity, and automobile emerged.
- Five innovation platforms evolving simultaneously is a historical first.
- Previous comparable era had three platforms: telephone, electricity, and automobile.
- The current platforms are highly catalyzed by AI and include robotics, energy storage, blockchain technology, and multiomic sequencing.
![The speaker discusses the historical context of current innovation platforms, comparing it to the early 1900s when telephone, electricity, and automobile emerged.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NzU2NzIsInB1ciI6ImJsb2JfaWQifX0=--6e92d595d65c70fbbceaaac53c873f850de08ff0/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4413_35.jpg)
Chapter 2
![The speaker reviews past growth dynamics and investment beliefs, noting how disruptive companies like Amazon have challenged conventional growth expectations.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NzU2NzQsInB1ciI6ImJsb2JfaWQifX0=--581987a9281e6b7cd4065b209559d5d165330843/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4413_111.jpg)
The speaker reviews past growth dynamics and investment beliefs, noting how disruptive companies like Amazon have challenged conventional growth expectations.
- Investors in the past were skeptical about sustaining high growth rates.
- The internet and AI technologies have begun changing growth patterns.
- Amazon's consistent growth served as evidence that high growth rates can be sustained over long periods.
![The speaker reviews past growth dynamics and investment beliefs, noting how disruptive companies like Amazon have challenged conventional growth expectations.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NzU2NzQsInB1ciI6ImJsb2JfaWQifX0=--581987a9281e6b7cd4065b209559d5d165330843/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4413_111.jpg)
Chapter 3
![The speaker introduces the new era of real AI and the convergence of technology platforms, highlighting the impact on growth and investment.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NzU2NzYsInB1ciI6ImJsb2JfaWQifX0=--991a1b0a422dd3a8b643276eafd4bf2d2223ecc4/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4413_195.jpg)
The speaker introduces the new era of real AI and the convergence of technology platforms, highlighting the impact on growth and investment.
- We are transitioning into an era of real AI with platforms such as generative AI.
- The convergence of technology platforms is poised to create explosive growth opportunities.
- Investors now have greater belief in sustained growth from companies like the FAANGs.
![The speaker introduces the new era of real AI and the convergence of technology platforms, highlighting the impact on growth and investment.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NzU2NzYsInB1ciI6ImJsb2JfaWQifX0=--991a1b0a422dd3a8b643276eafd4bf2d2223ecc4/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4413_195.jpg)
Chapter 4
![The speaker exemplifies the growth potential through autonomous taxi platforms, which blend robotics, energy storage, and AI.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NzU2NzgsInB1ciI6ImJsb2JfaWQifX0=--4318f3736b0b5ce4205e7febdd75df55fcd3a65e/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4413_285.jpg)
The speaker exemplifies the growth potential through autonomous taxi platforms, which blend robotics, energy storage, and AI.
- Autonomous taxi platforms represent a convergence of three major platforms.
- The revenue opportunity for autonomous taxi platforms could reach $8-10 trillion in the next 5-10 years.
- This growth is a small fraction of the projected transformative innovation valuation.
![The speaker exemplifies the growth potential through autonomous taxi platforms, which blend robotics, energy storage, and AI.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NzU2NzgsInB1ciI6ImJsb2JfaWQifX0=--4318f3736b0b5ce4205e7febdd75df55fcd3a65e/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4413_285.jpg)
Chapter 5
![The speaker forecasts an acceleration in GDP growth, spurred by productivity gains from transformative technologies.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NzU2ODAsInB1ciI6ImJsb2JfaWQifX0=--25c6b10e893e7f9ee0dd736e5c28cf94acb5a8b9/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4413_419.jpg)
The speaker forecasts an acceleration in GDP growth, spurred by productivity gains from transformative technologies.
- GDP growth is expected to accelerate from 2-3% to 6-9%, driven by productivity.
- A billion knowledge workers could become four times more productive.
- Productivity gains could result in higher profits, wages, and/or lower prices, leading to a deflationary period.
![The speaker forecasts an acceleration in GDP growth, spurred by productivity gains from transformative technologies.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NzU2ODAsInB1ciI6ImJsb2JfaWQifX0=--25c6b10e893e7f9ee0dd736e5c28cf94acb5a8b9/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4413_419.jpg)
Chapter 6
![The speaker discusses the concept of creative destruction and its impact on various sectors due to disruptive innovation.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NzU2ODIsInB1ciI6ImJsb2JfaWQifX0=--82da7b954128d300bf3acc8c7983dc891018ac11/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4413_664.jpg)
The speaker discusses the concept of creative destruction and its impact on various sectors due to disruptive innovation.
- Autonomous taxi platforms will disrupt transportation and mobility.
- AI, multiomic sequencing, and CRISPR gene editing will transform healthcare.
- Blockchain technology and AI are set to revolutionize financial services and create new digital property rights.
![The speaker discusses the concept of creative destruction and its impact on various sectors due to disruptive innovation.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NzU2ODIsInB1ciI6ImJsb2JfaWQifX0=--82da7b954128d300bf3acc8c7983dc891018ac11/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4413_664.jpg)
Chapter 7
![The speaker explains how their conviction in transformative forecasts remains strong and is reinforced by their research.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NzU2ODQsInB1ciI6ImJsb2JfaWQifX0=--cc01c27988ae70916e474921a193afae705db2a1/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4413_845.jpg)
The speaker explains how their conviction in transformative forecasts remains strong and is reinforced by their research.
- The speaker's research team has unwavering conviction in their forecasts, which has grown over the last five years.
- Advancements in AI have exceeded expectations, bolstering their confidence.
- Their research is based on first principles, aiming to understand how the new world will operate.
![The speaker explains how their conviction in transformative forecasts remains strong and is reinforced by their research.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NzU2ODQsInB1ciI6ImJsb2JfaWQifX0=--cc01c27988ae70916e474921a193afae705db2a1/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4413_845.jpg)
Chapter 8
![The speaker concludes with final thoughts on the immense opportunities that lie ahead due to innovation.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NzU2ODYsInB1ciI6ImJsb2JfaWQifX0=--45dacbf35b523905482ef5bb09fc0f1882fceeba/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4413_870.jpg)
The speaker concludes with final thoughts on the immense opportunities that lie ahead due to innovation.
- The speaker urges to embrace change and the opportunities it brings.
- They believe that true innovation will prevail, leading to substantial economic growth.
- They emphasize the importance of staying focused on the transformative potential of technology.
![The speaker concludes with final thoughts on the immense opportunities that lie ahead due to innovation.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NzU2ODYsInB1ciI6ImJsb2JfaWQifX0=--45dacbf35b523905482ef5bb09fc0f1882fceeba/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4413_870.jpg)
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