ARK Invest CEO Cathie Wood delivered a striking forecast on the future of AI-driven payments during the Federal Reserve’s “Payment Innovation Conference” on Oct. 21, saying that emerging technologies could supercharge global economic growth.
Speaking at the event, Wood said her confidence in accelerating real GDP growth “has increased” due to agentic payment systems, a new class of AI-powered systems capable of making autonomous financial decisions.
“We believe that with breakthroughs like this one and productivity gains being unlocked, real GDP growth in the next five years could accelerate to 7% or more,” Wood remarked.
Wood highlights blockchain and AI in GDP growth
Wood tied these gains directly to advances in blockchain and AI, calling them “two of the most important” platforms driving this new productivity wave. She credited open-source development for fostering the innovation required to make AI payments scalable and interoperable.
“I love the open-source movement,” Wood said. “We have learned about programmability, interoperability, and openness, and that increases my confidence that these growth expectations will be realized.”
Reduced hostility towards blockchain innovation
Wood also reflected on the role of U.S. regulators, describing how an initially “hostile” approach to blockchain innovation may have inadvertently strengthened the industry.
“Our regulatory regime was so hostile, especially against blockchain technology,” she said. “We were coming through a rubber band stretching, and now it’s going because everybody had a lot of time to think.”
She added that the earlier hostility from regulators may have been a “blessing in disguise,” as it ultimately made policymakers realize that stifling innovation would push it offshore — a wake-up call, she said, for the U.S. to reclaim its role in leading “the next-generation internet” and to promote its growth globally.
