Zanny Minton-Beddoes

And then a massive frenzy, a sort of gold rush, if you will, of piling into the companies that investors think are going to be the winner.

So take NVIDIA, for example, which is the chip company.

Its share price has absolutely gone through the roof because it is essentially part of this gold rush.

But the impact on the broader economy depends on the timeframe you're looking at.

What I think it will do will improve...

the productivity of the economy.

It'll make us as a society much more productive.

There'll be lots of ways in which our lives will be transformed for the better.

But it is going to be very disruptive.

And I think as there have been in previous bouts of technological innovation, there are definitely going to be losers from this.

And I guess what worries me a bit

particularly given the political environment we're in right now, is that we don't have the political capacity to deal with the consequences of that kind of disruption on ordinary workers.

Because if you look back, Terry, at the whole era of the sort of, you know, 90s and 2000s, after NAFTA and after those trade deals and jobs moved, jobs were displaced thanks to trade.

You know, that was really the origin of a lot of the polarization and anger in many parts of the United States.

And if you imagine that the impact on jobs from AI could be even bigger than that and faster than that,

you can imagine that it's going to be politically very, very difficult to deal with.

So that's the sort of worrying scenario.

On the other hand, it could also be technology that really allows the U.S.

economy to grow much faster and to have, you know, a kind of prosperity that it hasn't had for a

We're at the very beginning stages of this.