Fisher Investments’ Senior Vice President of Research, Michael Hanson, shares why emerging technologies—like AI, cryptocurrencies and central bank digital currencies—may not influence markets as much as many investors think, at least in the short term. Michael explains how when thinking about new technologies, investors should consider if they are in a stage where can be broadly adopted and used widely in a commercial sense. He explains how often, this can’t just happen overnight.

For example, it took decades for the internet to be set up and become a dominant force in capital markets. In terms of cryptocurrency, he shares how currently, the computing power and energy needed for global, widespread blockchain adoption isn’t available. He also discusses how the Federal Reserve is likely far from adopting a digital dollar. To Michael, emerging technologies present long-term problems and opportunities, but in the short term, shouldn’t worry investors.

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Investing in securities involves a risk of loss. Past performance is never a guarantee of future returns. Investing in foreign stock markets involves additional risks, such as the risk of currency fluctuations. The foregoing constitutes the general views of Fisher Investments and should not be regarded as personalized investment advice. Nothing herein is intended to be a recommendation. The opinions expressed are subject to change without notice.