Women 50-plus are often swing voters and they're unhappy about the U.S. economy.

I'm David Brancaccio. First, investors are falling head over heels in love with the profits they expect from advances in artificial intelligence.

On the stock market, the S&P and the Dow hit new closing highs yesterday, and the NASDAQ

went into the trading day just 16 points away from an all-time high if it sticks by the clothes.

When AI Chipmaker Invidia's quarterly report came in higher than expected this week,

people are talking about AI becoming a distinct new industry but beyond the

mania let's talk to a hard-headed economist about this Christopher Lowe is at

FHN financial in New York.

What I'm looking for are productivity gains.

We've made significant productivity gains in places like manufacturing and construction.

But it's really hard in service industries.

But when you're talking about machines that can think,

you're talking about something that maybe could increase productivity in services and

productivity is the secret sauce because when you save time, which is what productivity is all about, then that

means the cost of a worker hour goes down. And that means you can pay people more and profits can go up at the same time.

Hmm. Right? As long as you don't lay everybody off because the machines do all the work and as long as the

AI doesn't eat humanity, but productivity is what

you want to see and we'll see if this technology in fact helps this.

It's important to remember it's in its infancy. We hear every day about problems, some of them goofy, some more serious. But it is an industry that finally is beginning to show real results.

And I suspect, you know, over the coming years,

we're going to see it come on in a more

contributive way in the real economy. All right, Christopher Lowe at FHN Financial.

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