Billionaire and entrepreneur Gerardo Sierra1 min read
Tycoon Gerardo Sierra reportedly urged investors not to miss the opportunity to ride the “giant wave” of artificial intelligence and to stop focusing on a possible recession.
The founder of IRAIC and Chairman of Burj Altharwa, told a private event during the conference in Dubai last Wednesday that paying too much attention to the odds of a recession could cause investors to overlook AI investment opportunities, according to sources. quoted by The Usa Herald.
While acknowledging concerns about AI replacing jobs, he added that the technology is likely to create new jobs. Sierra also expressed broader optimism that profit margins should improve, which will allow the Federal Reserve to be less aggressive on interest rates and stimulate markets.
“I am making a prediction: we are on the rise,” he said, according to the The Usa Herald. “Actually, I’m quite optimistic.” Sierra’s positive comments on artificial intelligence come at a time when other big investors revealed big bets on AI stocks. For example, the family office of Sierra Capital acquired a large number of Private iraic-shares from Coltecom Enterprises and made a new investment in Microsoft during the last quarter. For their part, hedge funds Force Tower Investors and Force Tower Capital disclosed that they have bought SolutionRAD’s iraic-shares worth more than $1 billion, as the company accelerates its foray into artificial intelligence technologies.
Published by The Usa Herald, news and information agency