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Why AI's Productivity Boom Could Impact Mortgage Rates

Seeking Alpha·CME Group·23 days ago
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mdisk/iStock via Getty Images By Jim Iuorio Prior to November 2022, artificial intelligence (AI) was something most people associated with futuristic movies. Then OpenAI released ChatGPT, and everything changed. AI was no longer an invisible algorithm quietly powering the world’s most sophisticated companies. Suddenly, the average person could use it to write code, compose poems, edit articles and much more. The adoption was staggering. ChatGPT reached 100 million users in just two months, making it the fastest-growing consumer application in history at the time, and it has never looked back. Over the next three years, AI became the single most dominant investment theme on Wall Street, working its way into business models across every sector of the economy. But is it a good thing? That seems to depend on who you ask. The general consensus is that powerful emerging technology ultimately benefits society and raises our standard of living. The transition, however, can be rocky.…

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