Global Economy Headed for Era of Economic Growth, Goldman Sachs Economist Predicts

Global Economy Headed , for Era of Economic Growth, , Goldman Sachs Economist Predicts.

Business Insider reports that the global economy may be headed toward an era of new growth, driven by the advent of artificial intelligence and the push for decarbonization.

Business Insider reports that the global economy may be headed toward an era of new growth, driven by the advent of artificial intelligence and the push for decarbonization.

According to Goldman Sachs analyst Peter Oppenheimer, the global economy is headed for another "long boom" as interest rates and inflation peak.

Last year, tech companies ruled the market as the AI sector boomed, with firms like Nvidia and Meta seeing triple-digit gains in their stock values.

Last year, tech companies ruled the market as the AI sector boomed, with firms like Nvidia and Meta seeing triple-digit gains in their stock values.

Last year, tech companies ruled the market as the AI sector boomed, with firms like Nvidia and Meta seeing triple-digit gains in their stock values.

Oppenheimer suggests that Wall Street remains optimistic about where AI will take markets in 2024 as the technology reaches more sectors of the economy.

Compared to the tech giants of the early 70s and the Japanese tech bubble of the 80s, companies at the center of the AI boom are already much more profitable.

Compared to the tech giants of the early 70s and the Japanese tech bubble of the 80s, companies at the center of the AI boom are already much more profitable.

They're already much more profitable.

So I think this is a story that can run and have quite a big impact for some time to come, Peter Oppenheimer, Goldman Sachs analyst, via CNBC's 'Squawk Box Europe'.

Business Insider reports that the world's decarbonization efforts will be the other major driver of the coming cycle of economic growth.

According to Oppenheimer, developments in tech will be driven by the changing physical demands of our world amid worsening climate change.

According to Oppenheimer, developments in tech will be driven by the changing physical demands of our world amid worsening climate change.

Due to the world's warming climate, governments and economies are being pushed toward restructuring and modernizing.

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Oppenheimer suggests that this push to adapt to climate change will usher in a new phase of global economic growth.