Florida Trust Wealth Management recently held its annual 2026 Economic Outlook events, focusing on the role of artificial intelligence (AI) in driving economic growth.The discussions featured insights from industry experts, including Ian N.Breusch, Chief Operating Officer, and Kristian R.Jhamb, Chief Investment Officer, among others.
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prioritymarketing.comfloridatrust.comBreusch opened the session by reviewing the economic performance of 2025, noting that for the first time in several years, international stocks had outperformed domestic stocks.The S&P 500 exceeded expectations, finishing over 6,800, which represented a 16% return.However, as the team looked toward 2026, they anticipated ongoing market volatility alongside solid US economic fundamentals.
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prioritymarketing.comDuring the panel discussion, Breusch highlighted a complex economic landscape where consumer strength coexists with rising unemployment rates.Logan S.Webb, a senior portfolio manager, explained that two parallel economies are emerging: one thriving, supported by affluent consumers, and another struggling, where those living paycheck to paycheck face increasing challenges due to inflation.This disparity is contributing to a widening wealth gap, with rising debt and diminished savings impacting consumer spending across the board.
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prioritymarketing.comA significant focus of the discussion was the transformative potential of AI.Jhamb emphasized that the AI landscape is intricate and evolving rapidly, with major players like Nvidia, Amazon, and OpenAI leading the charge.He pointed out that AI has been a dominant investment theme since the launch of ChatGPT in October 2022, which has reshaped market dynamics and investment strategies.
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prioritymarketing.comJodi Schwartzel, another senior portfolio manager, expanded on the theme of AI, suggesting that its integration into various industries will yield cost efficiencies and innovative solutions.She noted that as companies adopt AI technologies, they will not only enhance their operations but also expand their market participation.In 2026, many businesses are expected to see the benefits of AI projects that improve productivity and drive growth.
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prioritymarketing.comWebb discussed the impact of the aging workforce, as Baby Boomers retire at a rate of more than 10,000 per day in the US He posited that AI could mitigate labor shortages by increasing productivity, although it might also lead to job displacement in certain sectors.The panel agreed that while AI may replace some jobs, it will also create new opportunities, necessitating a workforce adept in AI and technology.
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prioritymarketing.comgordoninstitute.fiu.eduFrom a policy perspective, the Florida Legislature is evaluating AI-related bills to ensure responsible adoption and ethical standards.This is crucial as AI is anticipated to significantly alter Florida's economy and workforce in the coming years.McKinsey Global estimates that up to 12 million job transitions could occur nationally by 2030 due to AI and digitization, underscoring the need for proactive workforce development and education initiatives.
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gordoninstitute.fiu.eduThe outlook for AI's economic impact is optimistic, with projections suggesting Florida could benefit from an estimated $22 billion boost by 2030.This growth potential hinges on effective legislative frameworks and collaborations among academia, industry, and government to foster innovation and skill development in AI-related fields.
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gordoninstitute.fiu.eduLooking ahead, the panelists emphasized the importance of rebalancing investment strategies, selecting diverse portfolios, and maintaining a focus on ethical AI implementation.As the market evolves, these strategies will be vital for navigating the complexities introduced by AI and ensuring sustainable economic growth in Florida and beyond.
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prioritymarketing.comfloridatrust.comWith AI at the forefront of the economic outlook, Florida is poised to become a significant player in the global technology landscape, provided it embraces the necessary changes in education, policy, and investment strategies to harness AI's full potential.
