Kevin O’Leary believes President Donald Trump’s legacy will be tied to the boom of Artificial Intelligence.
“Wild card here. You don’t know the outcome of AI yet,” the Shark Tank star, 71, explained in a recently resurfaced interview with Fox Business from February. “Does it displace so many jobs that that becomes a midterm election issue? Or is the productivity so spectacular on margin and productivity enhancement in the S&P 500, the market keeps going up, hitting new highs?”
He declared that “Trump will be the AI president.”
“It all came on his watch. The nascent first term, simmering through the [former President Joe] Biden years, boom it hits and now everybody’s wondering what the outcome’s gonna be; job loss or productivity enhancement? If he wins on the productivity enhancement, for the first time ever, maybe technology saves the midterms,” he said at the time.
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Since O’Leary’s comments, AI has continued to have a massive impact on the US economy. According to Yahoo Finance, the technology marked the leading reason for job cuts in March, accounting for 15,341 layoffs or roughly 25 percent of total job loss. However, the outlet reports that markets continue to hit new highs as companies ramp up AI spending.
In a more recent appearance on Fox Business, the mogul doubled down on his assertion that AI would be an asset for Trump, 79, and his administration in future elections.
“AI has already put itself in all 11 sectors of our economy to be something very powerful as a tool to enhance the economy through productivity and margin enhancement,” O’Leary told Fox Business on Thursday, April 30. “That’s why the markets are hitting new highs even while we have all this conflict around the world.”
He also warned of a military arms race between the U.S. and China over the effective implementation of artificial intelligence when it comes to national security.
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