Dollar's New Era: AI as the Final Pivot?

In an increasingly digital world, artificial intelligence (AI) emerges as a potential new anchor for the American dollar. By examining economic evolution from the consolidation of gold to the rise of oil, it becomes clear that AI represents a new paradigm. Gold and oil have transformed into symbols of stability and global value over centuries, creating indelible links with the American currency. However, the new nodes in the economic network—ranging from data centers to semiconductors—are redefining these relationships within an era of advanced technology. According to Julius Baer, this new scenario could lead to a concept of 'technodollar,' where the influence of the dollar extends beyond physical and traditional boundaries. Companies involved in AI, cloud providers, and payment networks are already sketching this future, raising questions about who will control these key nodes in the chain and in what currency contracts will be made. Debates on this new relationship are gaining traction within international trade and monetary policies, reflecting the growing importance of technology in the global economy. The inclusion of central banks in these discussions signals a collective recognition of potential impacts for international financial markets.