Veteran Wall Street financier Paul Taubman has raised concerns about the sweeping economic disruptions that could result from the rapid influx of capital into artificial intelligence. As CEO of PJT Partners Inc., Taubman highlighted the scale of investment now pouring into data centers, energy infrastructure, and advanced technologies during an appearance at the Future Investment Initiative summit in Riyadh. He emphasized that the shift toward AI is not incremental but transformative, with far-reaching implications for global markets and economic structures. n nTaubman questioned whether the secondary and tertiary effects of this technological transformation might eventually trigger a systemic shock. The sheer volume of funding directed at AI-driven sectors, he noted, could distort traditional economic models and create imbalances that policymakers and business leaders are not yet equipped to manage. While innovation often brings growth, the pace and concentration of current investment raise concerns about long-term stability and equitable distribution of benefits. n
— news from Bloomberg.com
— News Original —
Dealmaker Taubman Warns of Economic Shock From Profound AI Pivot
The billions of dollars flowing into artificial intelligence will bring about changes that threaten to upend the global economic system, according to veteran Wall Street dealmaker Paul Taubman . n n“The AI pivot is so profound,” Taubman, chief executive officer of PJT Partners Inc., told Bloomberg TV on the sidelines of the Future Investment Initiative summit in Riyadh. “So much capital is flowing into data centers, energy, and technology. It’s going to be so dislocating to the overall economy that you have to ask yourself at some point: are the second or third order consequences a shock to the system?”