With the world of artificial intelligence (AI) moving so quickly, it can be difficult, if not impossible, to assess its impacts properly.
Many people have expressed concern that many jobs will be replaced as chatbots become increasingly sophisticated and companies move toward advancements in robotic technology. Some things that served as the premises of science fiction films no longer seem so far away.
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However, AI's impact isn’t the only phenomenon that seems to be giving Americans economic anxiety lately. Given the uncertainty reigning over the U.S. economy right now due to heavy tariffs, many people are highly concerned with prices, specifically when they will go down and by how much.
Mark Cuban, who knows quite a bit about economic forces, recently weighed in on this topic, offering insights into the broader economic impact of AI and answering some pressing questions.
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Mark Cuban weighs in on a hotly debated AI topic
Anyone who follows Cuban knows he isn’t shy about offering his opinions, even if the topic is controversial. The serial tech entrepreneur is best known for his time as a judge on Shark Tank, a position he left in 2019.
Since then, Cuban has kept busy with new ventures, including his public benefit pharmaceutical provider Cost Plus Drugs. But recently, he’s had plenty to say about the rise of AI and how both investors and consumers should be assessing it.
Related: Mark Cuban has some blunt AI advice for entrepreneurs
On April 2, Anthony Pompliano, Founder & CEO of Professional Capital Management, posted to X that he believed AI will be “one of the strongest deflationary forces we will see in our lifetime,” adding that inflation has been crashing for the past few months.
Cuban responded to Pompliano’s post by stating that he disagrees, predicting that generative AI is poised to become one of the most effective economic growth drivers that the world has seen. As he sees it, these fast-advancing technologies will give way to new products that people will work hard to acquire, even if they did not initially realize they needed them.
This includes self-driving vehicles and highly advanced robots that will do some jobs currently done by humans.