Artificial Intelligence's ‘Apex’ Potential...The Outlook for Europe...Blockchain and More

Insights on markets, industries and the global economy [Goldman Sachs] [BRIEFINGS] January 03, 2017 Artificial Intelligence: The Apex Technology of the Information Age Artificial intelligence -- the science of teaching computers to think like humans -- is rapidly becoming accessible for companies across many industries thanks to advancements in machine learning and the availability of vast troves of data and computing power. While the increasing sophistication of AI adds to concerns that automation will displace workers, Heath Terry of Goldman Sachs Research says a more likely outcome is an increase in productivity and the development of new areas for investment. "The US economy is very good at destroying jobs. It's also very good at creating jobs," he says on the latest episode of our podcast, Exchanges at Goldman Sachs. "[We] can create more jobs than we destroy in these technology cycles." Subscribe to the podcast on [iTunes], [Stitcher] or [Soundcloud]. [Listen to podcast] [Watch video] SHARE: [twitter] [facebook] [LinkedIn] [email] The Year Ahead for Europe Europe will continue "muddling through" in 2017, says Goldman Sachs Research's Chief European Economist Huw Pill, with growth coming in marginally lower on account of the fading influence of low oil prices and a relatively weak euro. In the year ahead, "the drivers of growth and demand... are going to be shifting quite importantly," he says, with currency, energy prices and financial conditions giving way to a single driver: easier fiscal policy. Pill predicts the European economy will expand a modest 1.4% in 2017, though he notes this won't be sufficient to address the institutional and structural weaknesses that have kept Europe locked in its recent low-growth range. [Watch video] SHARE: [twitter] [facebook] [LinkedIn] [email] The Defining Tech Trends of the Next Decade The entrepreneurs in attendance at the Goldman Sachs Private Internet Company Conference represented the next wave of industry disruptors, with fresh ideas for the way media is consumed, ventures are funded and healthcare is provided -- not to mention the scope of technology itself. But while their interests and endeavors were diverse, all agreed that advances in connectivity and data analysis would form the backbone of a more responsive, capable and, above all, personal internet in the next ten years. Hear some of their predictions for what technology will bring. Above: Jennifer Tejada, CEO of PagerDuty [Watch video] [Watch: Buzzfeed's Jonah Peretti at PICC] SHARE: [twitter] [facebook] [LinkedIn] [email] Talks at GS: The Blockchain Revolution Is blockchain worth the hype? For some, a better question might still be: what's blockchain? Alex Tapscott, co-author of Blockchain Revolution, provided answers to both when he sat down for a Talks at GS session moderated by Goldman Sachs' Tom Jessop, chief financial officer for Technology and global head of Technology Business Development. Count Tapscott among the evangelists: blockchain, which first rose to prominence as the technology underpinning Bitcoin, is a reimagining of the ledger, one of the oldest instruments in finance. Its principle innovation is in distributing the facts of a transaction across a cryptographically secure network, which in theory can provide enormous gains in the fight against fraud and theft, while simultaneously speeding up complex transactions and reducing costly inefficiencies all across the financial industry. Says Tapscott: "With blockchain you have a new platform for the movement of value." Above (L-R): Tom Jessop and Alex Tapscott [Watch video] SHARE: [twitter] [facebook] [LinkedIn] [email] [Subscribe] The data provided in this newsletter is for information purposes only and should not be construed as investment or tax advice nor as a recommendation to buy, sell, or hold any particular security. Goldman Sachs believes the data in this newsletter is accurate, but does not verify its accuracy independently and does not warrant or guarantee that it is accurate or complete. Goldman Sachs has no obligation to provide any updates or changes to the data. No investment decisions should be made using this data. To the extent this newsletter includes material from the Goldman Sachs Securities Division, please click [here] for information relating to Securities Division material and your reliance on it. [My Profile] | [Unsubscribe] © 2017 Goldman Sachs, All rights reserved. 200 West Street, New York, NY 10282, USA [GS.com] | [Careers Blog] | [Privacy and Security] | [Terms of Use] [Twitter] [LinkedIn] [YouTube]