Ray Dalio, a billionaire investor, emphasizes the profound influence of artificial intelligence and draws attention to potential issues concerning US debt.

Billionaire investor and former hedge fund manager Ray Dalio has expressed great enthusiasm for the potential of artificial intelligence (AI), while also highlighting his concerns about its broader socioeconomic implications. During an interview on CNBC’s “Squawk On The Street,” Dalio emphasized the impressive capabilities of AI, particularly its superiority over human cognition in certain tasks and its lack of emotional bias. However, he did not ignore the darker aspects of AI, such as its possible use in warfare and the risk of job displacement. Dalio acknowledged that while he is excited about AI, it is a double-edged sword. He also expressed his concerns about the societal impacts of technological shifts, noting that AI could lead to increased job automation and further income inequalities, potentially widening the wealth gap. Dalio’s remarks support the growing consensus that AI can drive innovation but also poses significant challenges to traditional job markets. Turning to the fiscal and political landscape of the United States, Dalio acknowledged the country’s debt problem and the complex interplay between domestic politics and financial markets. He anticipates no significant shifts in the actions of the Federal Reserve and expects a relatively flat rate structure.