The Year of AI

A common investment theme around here is that “savings and innovation equal economic opportunity”.  The 2023 market certainly benefited from that view even though an MIT study had previously indicated that innovations are less likely to trigger economic growth because the big ideas are harder to find.  With two letters, AI, innovative new technology arguably single handily carried the market through the first three quarters of last year.  After pausing in October, the rest of the year was led by medical innovations, most notably in weight loss and to a lesser extent Alzheimer’s.  As we look to 2024 and beyond, the future remains bright for innovative solutions to the world’s most vexing issues.  Hopefully, potential gains on Wall Street may follow.