Elon Musk Approves Cathie Wood’s Take on Artificial Intelligence
The concept of 'AI' is spreading rapidly. Nowadays, it is pervasive among various technology companies and makes its way into the investment landscape.
Cathie Wood, the CEO and investment manager of Ark Invest, shared her thoughts on this powerful new technology on Sunday evening, stating that “AI is unlikely to provide a solution to the banking crisis.”
#AI is unlikely to fix the banking crisis, but the crisis – which is not over – is another sign that the Fed has gone too far. Many investors ask why we are optimistic. In our view, the equity and fixed income markets are discounting lower interest rates, a + for innovation! https://t.co/uluxJqrs4i
— Cathie Wood (@CathieDWood) May 7, 2023
“However, the ongoing crisis serves as evidence that the Federal Reserve has exceeded its limits.”
Wood added. “Many investors wonder why we remain optimistic. From our perspective, both the equity and fixed-income markets are anticipating lower interest rates, which bodes well for fostering innovation!”
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Elon Musk, the billionaire CEO of Twitter, expressed his agreement with Wood’s views on artificial intelligence in relation to the banking crisis, as well as her assessment of the Federal Reserve’s handling of the situation, by simply stating: “Absolutely.”
“Never before has the Federal Reserve increased interest rates in the midst of a crisis,” Wood remarked in her latest episode of In The Know. “We possess the necessary tools to address a crisis, and combating inflation is currently a primary objective of monetary policy.”
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
