AI is booming and Oil is dooming

We look back in time (one week) and so much has changed. We almost had a peace deal to celebrate. Oil prices dropped on hopes the deal would hold. As always, we speculate on the next move in markets, given the uncertain territory we have to navigate.The first quarter of the year and the GDP results which printed higher than expected. A stronger starting point for the year means that the demand destruction we've been feeling this quarter might set us back without completely derailing the Kiwi economy.Data points to the AI investment boom as a driver of growth domestically. We make many convincing arguments as to why we (economists) can't be replaced by AI (yet). None more salient than interpreting the future of oil distribution from the Middle East and its impact on where prices are going next.Hosted by Jarrod Kerr and Alexandra Turcu. Follow our economic commentary & insights here.Any views or information shared in this podcast, while given in good faith, aren't necessarily the view of Kiwibank.