While AI is set to drive long-term global productivity and economic growth, high AI spending and supply costs could make 3% the new inflation baseline in the near term, Kelvin Tay, Pictet Wealth Management's chief investment officer for Asia, said in an exclusive interview with Yicai. Over the next five to 10 years, the benefits of AI will extend far beyond the tech sector to fuel infrastructure, energy, and real estate, he added. #GlobalLens