by Brian Shilhavy, Health Impact News:
AI was a top subject discussed this week at the 2026 World Economic Forum (WEF) in Davos, Switzerland.
One of the most illuminating events regarding how world financial leaders view AI today was in a panel discussion hosted by CNBC that included Larry Fink, CEO of BlackRock, Ken Griffin, CEO of Citadel, Christine Lagarde, President of the European Central Bank, and renowned economist Adam Tooze of Columbia University.
The discussion started out by discussing historical parallels between the economic boom of the “roaring 20s” just after WW I, which then ended with the Great Depression in the 1930s, and what we are seeing today with the massive spending in AI which is propping up the world economy, for now.
TRUTH LIVES on at https://sgtreport.tv/
Christine Lagarde, President of the European Central Bank, stated that she did see parallels between the 1920s and today, because the 1920s produced life-changing technology, such as the electrical grid, combustible engines, assembly lines (mass production), which led to an increase in the markets.
To me, that speaks volumes about how a global banker could possibly see that AI is going to change our lives the same way electricity and gas cars did in the 1920s. It shows that she is either completely ignorant about the limitations of AI, or that she is continuing the hype by making comments like this comparing it to the invention of electricity and cars.
Lagarde also stated that unlike the 1920s, trade is threatened today by tariffs, and access to the data that AI needs that is often protected by privacy laws.
Larry Fink, the CEO of BlackRock who is the co-host of the WEF this year, agreed with this, stating that if the western economies do not participate together, China wins, because China has a “dramatic” advantage to their data which is protected (from Western countries).
Ken Griffin, the CEO of Citadel, disagreed that there were parallels between the 1920s and today, as he stated that government spending around the world is “recklessness”, because they are spending beyond their means. He stated that in the 1920s it was “recklessness” in the private capital markets.
I actually agree with this, but I see BOTH happening today: recklessness in U.S. Government spending, and in the past few years recklessness on Wall Street by investing in all of the AI technology, based on what it is going to do in the future.
Then Griffin said this:
“There’s a huge question as to where AI will take us, … because this is one of the big issues of our moment. Will AI create the productivity acceleration that is honestly just hoped for in Washington and in the halls of government around the world as a way to overcome the profligate spending that we’re currently engaged in?
Like, the world needs a savior, and the hope is that AI is the savior that we need for productivity. And the challenge with this is it may or may not be.
We just don’t know yet.
Now there’s a tremendous amount of hype around AI. And in some sense, the large AI companies need to create that hype to raise the tens of, or actually hundreds of billions of dollars of investment that are going into the field.
Like, you wouldn’t be able to raise hundreds of billions of dollars – we’ll spend roughly 600 billion dollars this year in capex for data centers in the United States.”
Fink then stated “I think it will be larger (than 600 billion dollars).”
But even though they admitted the current risks of AI, they all agree in the end it is going to make everyone rich.
So the WEF motto from a few years ago: “You will be happy and own nothing” – seems to have changed now to: “AI will make all of us rich and we will be able to live like a king (while AI and the robots do all the work).”
But to get there, they will require sacrifices from people, namely, the loss of PRIVACY. This is the only way this “prosperity” works, where they have access to everything and anything about you.
Read More @ HealthImpactNews.com
