(Bloomberg/William Horobin, Anna Edwards and Lizzy Burden) — The surge in artificial intelligence investment that has buoyed world growth is set to continue and deliver longer-term gains, OECD Secretary General Mathias Cormann said.
The Paris-based organization, which earlier this month raised its forecasts for several major economies including the US, said then that tech spending is already providing support in the face of trade uncertainty.
“We do expect that the level of investment in relation to AI will continue to increase for some time,” Cormann said in an interview with Bloomberg Television. “Over the medium-to-long term we do expect a significant beneficial impact when it comes to productivity growth from the accelerating diffusion and adoption of AI across the economy.”
Still, Cormann said the OECD expects global economic growth to slow to 2.9% next year from 3.2% in 2025, with the possibility that trade headwinds intensify.
“We do see quite a level of downside risks,” he said. “The impact of tariffs are yet to be fully felt and there is a continued level of trade uncertainty and a whole range of other structural pressures.”
–With assistance from Caroline Connan.
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