AI is widely recognised as the core technology in an emerging industrial revolution that will probably transform every facet of the global economy. In considering that question, it is important to bear in mind that no industrial revolution has ever emerged outside advanced democratic capitalism. To assess its place in the next industrial revolution, one must consider two critical issues. While a “DeepSeek moment” may capture our attention, achieving long-term competitiveness and fostering a genuine industrial revolution is another matter entirely. After all, AI is not a remedy for deflation – and deflation itself is fundamentally incompatible with any industrial revolution.

Source: Irish Examiner December 29, 2025 12:11 UTC