“Ever since the Industrial Revolution, investments in science and technology have proved to be reliable engines of economic growth. If homegrown interest in those fields is not regenerated soon, the comfortable lifestyle to which Americans have become accustomed will draw to a rapid close.”
– Neil deGrasse Tyson
The Through Line: AI and the infrastructure needed to support its development and use have dominated much of the narrative – and stock market performance – since the release of ChatGPT in November 2022. Yet, advances in other important technologies (e.g., robotics, autonomous vehicles, drones) plus an understanding that aging infrastructure needed serious upgrades, have motivated important changes in funding and policy. Recent wars, supply chain shocks and a record-breaking moon mission add to the complexity – and the opportunity. This week, we speak with BMO Capital Markets industrials analyst Dan DiCiccio, who outlines the potential macroeconomic implications of the many moving parts.
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