Categories: General Market Commentary- DPC / Technology
Topics: General Market Commentary- DPC / Artificial Intelligence

Financial Stress and the Risk of AI

Since last week: 

Things are tightening and, increasingly, people are beginning to feel the pinch.

1. People Are Saving

Americans are afraid and they’re socking away more because of it. That’s according to a new report by the Bank of America Institute and Deloitte. People are spending less on discretionary purchases and are instead putting aside cash for fear of an impending recession. In times like these, you have to do whatever you can to prepare for economic uncertainty. While putting money aside is good, it’s only the start. You have to work to protect and grow that money too. 

2. A Warning on AI

Sam Altman, the CEO of OpenAI, recently appeared before Congress and appealed to leaders to regulate artificial intelligence in order to mitigate some of the risks this technology presents. Because of the complexity and versatility of the technology, this is something that’s going to require a lot of thought before anything becomes reality. AI affects everything from tech, to healthcare, to public safety, so we’re going to hear a lot of conversations like this over the next few months and years.

3. France’s Nuclear Move

France has long been one of the leaders in pushing for nuclear power implementation throughout Europe. Just recently, the country’s parliament validated a bill to speed up the construction of new nuclear reactors. The Energy Transition Ministry expects future construction times to be cut down by at least two years. This shows France is serious about nuclear power and serves as a sign of possible things to come. That’s good news for uranium miners and investors. 

4. China’s EV Dominance

Chinese-made electric cars have taken over that country’s domestic market, and they could be eyeing the US next. Industry watchers say it’s only a matter of time before that happens, and when it does, competition will really heat up. That’s just going to spike lithium demand and make the miners and investors even richer. 

What to Look For:

Votes for the debt limit could be coming soon, just ahead of the June 1st deadline.

Ryan Stancil
Editor, Daily Profit Cycle