While AI is transforming industries worldwide and is expected to elevate our society to new heights, Caleb Maresca at New York University shared a contrarian view in his latest study. The economist believes that transformative AI could upend economies, decimating wages and lifting interest rates to extremely high levels.
“My findings reveal that expectations of [transformative AI] can substantially affect current economic conditions even before any technological breakthrough occurs. When AI automates a job — whether a truck driver, lawyer, or researcher — the wages previously earned by the human worker don’t vanish or automatically transform into broader economic gains. Instead, they flow to whoever controls the AI system performing that job.”
-said Maresca
He highlighted that expectations of AI gutting the price businesses pay for work could massively drive interest rates by up to 16% in some scenarios. In such a situation, the cost of launching a new business or purchasing a house could increase to unaffordable levels, which could compel people to save more and spend less, creating a “form of prisoner’s dilemma in saving behavior.”
He urged people to collectively push politicians to enact policies, which ensure that the wealth created by transformative AI is shared broadly, especially if AI leads to persistently high unemployment.
We selected AI stocks by reviewing news articles, stock analysis, and press releases. We listed the stocks in ascending order of their hedge fund sentiment taken from Insider Monkey’s database of over 1000 hedge funds.
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10. Veritone Inc. (NASDAQ:VERI)
Number of Hedge Fund Followers: 5
Veritone Inc. (NASDAQ:VERI) offers a leading enterprise AI platform and software solutions to clients in the media, entertainment, and public sectors. These solutions help clients transform data sources into actionable intelligence for faster and more accurate decision-making and better profitability.
On February 27th, Veritone Inc. (NASDAQ:VERI) announced that Vital Voices Global Partnership, a nonprofit, has chosen the company’s AI-driven Digital Media Hub to improve media management and storytelling. This development highlights the revolutionary potential of AI for social good, which will be facilitated through the Amazon Web Services Marketplace. The Digital Media Hub, a digital asset management and monetization solution, utilizes AI-driven metadata tagging and advanced search capabilities to help organizations create compelling narratives and improve the storytelling process by centralizing media assets and automating workflows.
“Our collaboration with Vital Voices illustrates how AI and cloud technology can drive meaningful change, empowering organizations to innovate and operate more effectively. Together with AWS, we’re committed to advancing the vision of AI for good.”
-said Sean King, chief revenue officer, Veritone.nasdaq:hpai
9. Helport AI Ltd. (NASDAQ:HPAI)
Number of Hedge Fund Followers: 6
Helport AI Ltd. (NASDAQ:HPAI) is an AI firm that offers intelligent customer communication software and services to enterprise clients.
On February 27th, Helport AI Ltd. (NASDAQ:HPAI) announced the introduction of AI-powered self-learning, multimodal data integration, and advanced real-time data retrieval capabilities to its knowledge base to optimize enterprise knowledge management. Helport AI’s enhanced knowledge base will now leverage advanced self-learning capabilities to improve data accuracy, automate data curation, and streamline information access to increase customer engagement, elevate service efficiency, and enable better decision-making for businesses in diverse industries.
“Organizations need knowledge solutions that evolve with them. With these enhancements, our knowledge base doesn’t just store information—it actively learns, adapts, and provides real-time insights to support enterprise operations at scale. This evolution aligns with our commitment to continuous innovation. By providing enterprises with an AI-driven, intelligent knowledge management solution, we help ensure that businesses stay competitive in an increasingly digital world.”
-said Guanghai Li, CEO of Helport AI.
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