AdvertisementSKIP ADVERTISEMENTIt was early November, and the stock market had grown jittery as investors recoiled anew over the enormous bets the nations largest technology companies had placed on artificial intelligence.But the skittishness playing out on Wall Street that day barely registered at the White House. Asked whether he harbored any fears about an emerging bubble, one that could damage the economy if it were to pop, President Trump brushed aside all doubts.No, he quickly replied, I love A.I.For Mr.
Trump, there is no risk, only reward, posed by the dawning and disruptive new age of computing. Over the past year, the president and his top aides have fully embraced A.I., and showered its leading corporate backers with money and regulatory support, as the administration looks to supercharge one of the primary areas of growth in an otherwise precarious U.S.
economy.That optimism was on display on Tuesday, after the federal government reported that the U.S. economy grew at an annual rate of more than 4 percent last quarter.
Kevin Hassett, the director of the White House National Economic Council, told CNBC that the new data indicated that the presidents broader agenda was working as he touted the signs of a boom in A.I.The administrations unqualified support contrasts starkly with the more cautious tone struck by economists and even some technologists in Silicon Valley. Many still question whether A.I.
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