Investment in technology—particularly, spending on software, hardware, and AI-related infrastructure—continues to drive U.S. economic growth.  

But beyond headline spending figures, a key question remains: how exactly is economic life being transformed? Some critics have dismissed current AI offerings as “just chatting with chatbots.” Others worry that broader AI adoption will replace workers, thereby increasing unemployment. 

Critics of new technology often lack imagination. One near-term possibility is that AI will move beyond back-and-forth chatbots and toward independent AI “agents” that could function like a scalable pool of junior analysts across various fields, effectively putting intelligence “on tap” (like a beer tap!). Need “intelligence” to work on a project? Pour yourself a helping! 

Read | Intelligence “On Tap”: The Early Economics Of AI Agents

Payden and Rygel

Payden & Rygel is one of the largest privately-owned global investment advisers. Founded in 1983, they manage fixed income and equity portfolios through domestic and international solutions.

Information provided is general information and is for educational purposes only, and does not include, or constitute as, financial product advice.