Technological Convergence and Its Economic Impact: Insights from ARK's Big Ideas 2024
In technology, this decade is going to feel like the second half of the chessboard…it just totally overwhelms the equation. – Brett Winton
In the latest episode of ‘In the Know,’ ARK CEO/CIO, Cathie Wood, and ARK Chief Futurist, Brett Winton, discuss the convergence of technology, artificial intelligence, and the potential impact on the global economy.
The conversation also covers the implications of the latest employment numbers, the state of the banking system, and the role of Bitcoin in the current economic scenario.
Table of Contents
- Surprising employment numbers
- Concerns over average hourly earnings
- Negative growth in non-digital companies
- Deflation and disruptive innovation
- Risks in the banking system
- Real interest rates and yield curve
- Global supply chain pressure
- Low commodity prices
- Bitcoin as a risk-off asset
- Institutional participation in Bitcoin
- Convergence of technologies
- Deflationary force of AI
Surprising employment numbers
January’s employment numbers exceeded expectations with a significant addition of non-farm payroll jobs.
However, a decline in household employment over two months indicates a decrease in small businesses.
Concerns over average hourly earnings
The increase in average hourly earnings sparked controversy, but strong productivity numbers driven by technological breakthroughs may offset concerns about rising wages.
