CIO Predicts AI Boom Could Triple Major Stock Indexes Within a Decade
• U.S. stocks off to rocky start in 2024, but one CIO predicts major indexes could double or triple over next decade due to AI boom
• CIO James Demmert forecasts S&P 500 hitting 15,000, Dow reaching 100,000, and Nasdaq surpassing 50,000 within 7-10 years
• Sees AI boosting productivity and profits across all sectors, unlike dot-com boom that was concentrated in tech
• Points to Adobe as example of how AI can help companies increase revenue without hiring more
• Outside of big tech stocks, sees current valuations as relatively cheap; expects other companies to stage catch-up rally if earnings hold up