Vice President JD Vance says AI won’t replace humans.
Vice President JD Vance is pushing for growth in the artificial intelligence industry, but says it won’t replace humans.
Fox – 32 Chicago
The stock market continued what has been a turbulent period with another drop Feb. 12 attributed to concerns over artificial intelligence, experts said.
The Nasdaq Composite fell 1.5%, while the broad market index was down 1.1%, according to CNBC. The Dow Jones Industrial Average lost 530 points, or 1.1%. The S&P 500 was also down about 1.04% and Bitcoin down 2.45%.
The growing impact of AI, as well as speculation over its future use, is viewed as the main factor of the overall downward trend in stock prices in recent weeks.
A stock market plunge Feb. 5 was followed by a big rebound the following day, after tech officials dismissed concerns about AI affecting their companies. But investors have begun to worry about its potential impact on future business models and unemployment rates, CNBC said.
Companies like Microsoft and Alphabet, the parent company of Google, projected significant increases in AI spending in recent earnings reports. Microsoft’s announcement caused shares to drop 12%, the company’s worst day since March 2020.
Read More: Stock market and Bitcoin down today, why? What experts say
