There are a couple of things I have experienced in my life that have felt like magic.
The first time I searched for something on the internet … downloading a song on Napster … driving an electric vehicle (EV) … using ChatGPT.
When a new innovation or technology is magical, it’s only a matter of time before enough people start to realize how incredible it is.
As an investor, that’s a cue for you. Acceleration is not far behind.
Just look at EVs.
Electric vehicle sales have reached the 4 million mark after just 10 months of reaching 3 million. Global sales of EVs are forecasted to reach 10.7 million by 2025 (and then 28.2 million by 2030).
AI? The growth could be even faster. Every week, it becomes more and more a part of our daily lives.
Including how you can pick stocks. [You can see more on this tonight at a free event I’m hosting. Click here for details.]
Momentum is building. And if you wait, you’ll miss it. Don’t. See how you can invest in the two BIGGEST mega trends of today…
(Or read the transcript here.)
🔥Hot Topics in Today’s Video:
- Tech News: AI is quickly becoming a part of our everyday lives. Meta (Facebook) is releasing its open-source AI model, Llama 2 — a rival to ChatGPT. [1:45]
- Teaser: There’s a new AI software by TradeSmith that can pick your next winning trade. Join Keith Kaplan and me TONIGHT at 8 p.m. ET to see how! [7:20]
- Market News: What’s the likelihood of a coming recession? We take a look at new surveys and economic indicators for the answer. [8:40]
- Mega Trend: If Tesla (Nasdaq: TSLA) commercialized its autonomous, self-driving software, it would be a game-changer. Electric vehicle sales in the U.S. are on the rise, with ExxonMobil planning on building a major lithium plant in Arkansas. [14:50]
- Investing Opportunity: Consider buying this ETF if you want to dive into the lithium market! [17:05]
See you next week,
Ian KingEditor, Strategic Fortunes
AI & American Productivity
I’m back, folks!
And I’ve been writing a lot about U.S. productivity. Specifically, the need to use artificial intelligence and robotics automation technology to leverage our existing workforce.
After all, rate hikes by the Federal Reserve, and other tactics designed to reduce demand, will only get you so far. If you ultimately want to slay the inflation dragon while also continuing to grow the economy, you need to produce more — and do so more efficiently.
You have to get more productive.
I’m pondering this as I continue to slog through that ultimate productivity killer: jetlag!
It took me the better part of a week to get my internal clock back on track, and my children are still a mess. They’ve been drifting off to sleep at 8 p.m., which is fantastic! Unfortunately, they’ve also been waking up around 4 a.m., which is considerably less fantastic.
But about productivity, let’s look at the numbers.
In the first quarter of this year, Americans were measurably less productive than they were in the same quarter a year ago.
Output per hour dropped 2.1%. And this wasn’t a one-off. In the first and second quarters of 2022, productivity dropped 6% and 3.7%, respectively. And productivity has been trending lower for the better part of three years now.
Just for kicks, let’s take a look at the map.
The Bureau of Labor Statistics tracked productivity by state for all of 2022. If you happen to live in Idaho, you should pat yourself on the back. Idahoans managed to boost their productivity by 4% last year.
Good for them! Because they appear to be the only Americans getting measurably better at their jobs.
Across the rest of the country, productivity growth was either flattish or negative. And in several states, namely California, Nevada, North Dakota, Louisiana, Mississippi and New Hampshire, productivity shrank by 4-6%. I’ll refrain from picking on individual states because, frankly, my native Texas isn’t looking too good there.
But the takeaway here is clear. We have a productivity problem. It’s a national problem, and it spreads across all geographies and industries.
As for the “what to do about it,” that’s where my friend Ian comes in. The only way we break out of this productivity funk is to employ new technology such as artificial intelligence.
And as Ian and Amber discuss today — and in yesterday’s podcast with TradeSmith CEO, Keith Kaplan — AI can also help you make better investing decisions. If you’re ready to see how AI can help choose your next trade, join Ian and Keith tonight for their free webinar.
Want to learn more “Project An-E” and investing with AI tools? Let us know at BanyanEdge@BanyanHill.com!
Regards,
Charles SizemoreChief Editor, The Banyan Edge
