Ermotti said the election could temper spending on AI infrastructure, leaving the industry’s economic value harder to demonstrate for longer.
Reuters reported that Ermotti made the remarks at a UBS conference in Sydney on Monday, Nov. 9. He advised clients against letting short-term political issues dominate asset-allocation decisions.
He characterized the recent declines in AI shares as a recalibration after investor optimism outpaced near-term prospects. He linked the possible delay in AI’s economic payoff to the pace of infrastructure investment, which could be affected by the election outcome.
Reuters also reported that Ermotti remained positive about AI’s long-term potential. His comments follow his earlier view that AI’s economic payoff may take longer to arrive, covered in an earlier EconoTimes report.
