The widespread adoption of artificial intelligence technologies could help stoke a productivity surge and an acceleration in the global economy, Goldman Sachs Group Inc (NYSE:GS). analysts said.
Average potential global economic growth will slump to a three-decade low of 2.2% per year through 2030, ushering in a "lost decade" for the world's economy, unless policymakers adopt ambitious initiatives to boost labor supply, productivity and investment, the World Bank warned on Monday.
Oil prices fell slightly in early Asian trade on Tuesday after rallying in the prior session, as markets weighed the prospect of tighter near-term supply against growing political disruptions in parts of Europe.
The U.S. dollar slid for a second day against major peers on Tuesday as receding fears of a full-blown banking crisis sapped demand for the safest assets.
Asian shares followed U.S. stock futures higher on Monday on hopes authorities were working to ring fence stress in the global banking system, even as the cost of insuring against default neared dangerous levels.
Some investors and analysts are calling for more coordinated interventions from central banks to restore financial stability, as they fear that tumult in the global banking sector will continue amid rising interest rates.