LONDON — Technological advances such as automation could increase global GDP by more than $1.1 trillion over the next 10-15 years, according to a new report from analysts at JPMorgan Asset Management seen exclusively by Business Insider.
The asset management arm of banking giant JPMorgan believes that technological advances across all areas of society could lead to big productivity gains, which in turn will likely boost economic growth.
“Technology will affect economic growth rates and capital market returns in ways that are difficult to foresee,” the report, authored by a team of strategists headed by John Bilton, JPMAM’s Head of Global Multi-Asset Strategy, argues.
“Workforce automation and AI have the potential to deliver significant overall productivity gains, and some nations facing growth challenges from aging populations could see an additional boost to trend growth rates.”
“In the past, technological innovation transformed society and increased labor productivity in three key ways,” the report states.
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