For investors, the main issue is the evolution of oil prices. High prices revive fears of higher-than-expected inflation, which could push the US Federal Reserve (Fed) to raise interest rates. However, higher interest rates mean lower stock prices, since the value of future profits decreases.
The good news? Historically, oil crises rarely last long. Moreover, we are currently experiencing a global oil surplus. So, I remain confident.
Economic figures related to AI
Many articles on AI are being published right now, and some are very pessimistic about the future of workers. So here is the current situation.
Employment continues to grow
Since 2022, the year ChatGPT appeared, the United States has created 3 million white-collar jobs, and wages are rising.
The same phenomenon occurred when computers entered the workplace: employment increased, and half of the jobs created between 1980 and 2010 were entirely new professions.
Even though AI seems revolutionary, it still makes mistakes in 2 to 3% of cases: its work therefore still needs to be reviewed by humans. This currently limits the replacement of human labor by AI.
Productivity: An Impact Still Slow to Materialize
We are not yet seeing a clear impact of AI on worker productivity.
In the United States, productivity increased by 1.9% in 2025, while the economy grew by 2.2% (data from February 20, 2026). Few jobs were created, but this is not unusual: economic growth is often 2% higher than the rate of job creation (0.1% in 2025).
Yet, in November 2025, 41% of workers reported using AI, and only 13% reported using it daily. According to experts, we should see a 15% to 25% increase in productivity for certain tasks.
But as with the arrival of electricity or computers, it will take time: companies need to rethink their business model and integrate AI into their processes. This will take a few more years…
The evolution will be slow but steady.
Don't panic: you'll simply have to adapt. The changes will be gradual, in my opinion, even though AI technology is constantly improving.
Changing companies' business models will take time.
Book of the Month
Regarding AI, I just finished reading *The Thinking Machine*. The book tells the story of Jensen Huang, the founder of NVIDIA, the company that manufactures the microprocessors at the heart of modern artificial intelligence. It's the story of the greatest technology company of our time!
The author, Stephen Witt, interviews Jensen Huang's key collaborators who helped shape AI into what it is today. And you'd be surprised to see how much further back the story goes than you might think.
Happy reading!
Daniel Dionne
Actuary by training and financial security advisor - Ellipse Financial Services
Mutual fund representative - MICA Capital Inc.
*Sources: AI and productivity (The Economist – February 28, 2026) and AI and the labor market (The Economist – January 31, 2026).
Please note that these comments reflect my personal opinion and do not constitute investment advice. Each individual's unique financial situation may influence the most suitable investment choices.
I encourage you to send me your questions, which I will answer in the next newsletter, for the benefit of all.
