Yuichiro Chino/Getty Images
- AI may be powering the stock market higher but it won't stop a recession, David Rosenberg said.
- AI can't change the fact that businesses are about to face a debt-refinancing shock.
- History shows technological advancements have never altered the course of the business cycle, Rosenberg said.
As the artificial intelligence-powered stock market rally pushes on, proponents of the technology have posited that it could help ward off a recession that forecasters are calling for.
According to David Rosenberg, economist and president of Rosenberg Research, don't get your hopes up. AI won't change the trajectory of the business cycle enough to prevent a downturn.