AI. The right questions to ask are evolving.

Is the AI revolution real? Obviously. Will it deliver returns to match the high cost of building it out? Maybe. 

Who will capture the economic value? That’s harder.

New technologies often trace a similar pattern. Railways, electricity, cars, the internet and now AI have had three phases. 

First, an innovative technology. Next, the infrastructure to deliver that technology to a mass market. Only then do the real beneficiaries emerge.

The right question to ask now is what happens and who benefits when what is scarce today becomes abundant tomorrow.  

It will only be when everyone’s computer is running Claude or Perplexity, and we’ve all worked out how to use it, that AI will be transformative. 

Another pertinent question is: what becomes possible when everyone has AI?

The biggest risk for today’s AI winners is not that AI fails but that it is so successful that the scarcity they can sell so profitably today becomes an abundant and cheap commodity.

Tom Stevenson Telegraph 3 September 2026

https://www.telegraph.co.uk/business/2026/09/03/investors-focus-cheaper-and-more-durable-end-users-ai/

Tom Stevenson

https://www.telegraph.co.uk/authors/t/tk-to/tom-stevenson/

 

To justify their colossal outlays on data centres, America’s cloud giants, and AI labs such as Anthropic and OpenAI, need adoption of the technology to continue spreading rapidly. 

A back-of-the-envelope calculation by The Economist finds that covering the cost of the data-centre build-out will require total annual revenue from the use of AI to reach $2.5trn per year by the end of the decade, up from around $150bn currently.

The Economist 30 August 2026

https://englundmacro.blogspot.com/2026/08/31-augusti-merz-lowest-ever-adoption-of.html


Nvidia är världens största börsbolag med ett värde på över 5.400 miljarder dollar, motsvarande 52.000 miljarder kronor. 

https://englundmacro.blogspot.com/2026/09/2-september.html


Kommentarer

Skicka en kommentar

Populära inlägg i den här bloggen

Cognitive blind spots

Bild
Cognitive blind spots are undermining our ability to see the world as it is, rather than as we would like it to be. At the start of the 21st century, western elites generally assumed that globalisation, democracy and the free market were self-evidently good, and would keep spreading, creating peace. N o longer.  FIS, Swiss Federal Intelligence Service, has published a manual about cognitive blind spots. 18 different cognitive biases that hamper our thinking, such as “group think” (adhering to the cosy assumptions of our tribe), “anchoring” (relying exclusively on whatever information we see first, say on social media),  “confirmation bias” (only seeing data that reinforces pre-existing views),  “mirror imaging” (assuming others think like us),  “absence of evidence” bias (failing to think about the data we lack)  and “survivorship bias” (judging data only with success stories, not failures). Gillian Tett Financial Times 2 January 2026 https://www.ft.com/content/...
Läs mer

Martin Wolf; The next crash - Why this time might not be different

Bild
Stock markets are not only ignoring the obvious threats, but seem imbued with extreme optimism. In the autumn of 1929, Irving Fisher, one of the greatest American economists, stated: “Stock prices have reached what looks like a permanently high plateau.”  This turned out to be one of the most incorrect forecasts ever made: in short order, US and global stock markets were hit by the Great Crash, which was followed by the Great Depression. Maybe markets were in some sense “right” before the crash and wrong after it. But who cared? For investors and the hundreds of millions of people across the world whose lives were upended by the disaster, the gods of the stock market had failed for a generation. Why might this story be relevant today? The answer is that the valuation of US stocks is even higher today than in September 1929.  The first global financial crisis after the disaster of the 1930s in 2007-09: the easy monetary — and relaxed regulatory — policies adopted after the stoc...
Läs mer

27 juli. Oman. Yemen. Fallande oljepris. Wildfire threatens Bordeaux. Dance While The Music Still Goes On. Huawei.

Bild
I Spanien och Frankrike rasar de pågående bränderna fortfarande utom kontroll. I Frankrike säger president Emmanuel Macron att landet står inför sin värsta utmaning sedan andra världskriget. TT  27 juli 2026, 21:13 https://www.di.se/nyheter/macron-varsta-utmaningen-sedan-kriget/ Stockholmsbörsen inleder handelsveckan uppåt drivet av ett fallande oljepris. Alla 30 bolagen på OMXS30-indexet handlas på plussidan. DI 27 juli 2026, 09:24 https://www.di.se/live/gron-oppning-pa-stockholmsborsen-HbyW3/ Dow, S&P 500 and Nasdaq set to rise as oil prices dive after U.S. paused strikes on Iran; Treasury yields fall  https://www.marketwatch.com/livecoverage/stock-market-today-dow-s-p-500-nasdaq-oil-prices-us-paused-strikes-iran-treasury-yields-fed-big-tech Måndagen såg ut att bjuda på en uppåtrekyl för Wall Streets minnes- och halvledarbolag efter fredagens tunga nedgångar. Men så blev inte fallet. DI 27 juli 2026, 16:33 https://www.di.se/live/plotslig-chipfrossa-pressar-wall-street/ N...
Läs mer