Joe Davis: AI investment is going to continue to power the US economy and the financial markets. As we look into twenty twenty seven, our expectations are far higher than expected growth, predominantly because of the rate of acceleration in AI investment and adoption. As you know, this is a phenomenon AI that we have studied for some time. And our conviction in our view of higher than expected, non consensus growth of perhaps three percent, where Federal Reserve expects two percent, our conviction is growing that assessment.
Why? Because of the dimensions of the technology itself. AI investment by our metric continues to accelerate even faster than our heady expectations, and the rate of adoption in the workplace and personal lives continues to rise at a steady and fast clip. And so when we look into twenty twenty seven, we are optimistic on the economic front, despite some of the challenges that may remain in the headlines.
And so we look to the markets, it's one of both earnings momentum, which is very positive, but also emerging signs of market euphoria in parts of the US market. So as investors, we will have to balance the opportunity to to harness those gains while remaining diversified and not letting AI euphoria take us too far.