US Treasury Secretary Scott Bessent said artificial intelligence will be the main engine of America’s future economic growth, calling it a transformative force that will shape both domestic productivity and global competitiveness.
Speaking late Wednesday, Bessent said AI is now central to US economic strategy and could help stabilise energy costs near major data and computing hubs, as energy infrastructure evolves to meet AI’s massive power demand. “Energy costs may stabilize around AI facilities,” he said, suggesting that concentrated clusters of AI activity could bring greater efficiency and predictability to local grids.
Bessent also described the US-China tech rivalry as a “pass/fail AI competition,” stressing that success in artificial intelligence will define the balance of economic power for decades. He expressed confidence that America is positioned to extend its lead in advanced technologies, from semiconductors to large-scale model development.
“AI will be the single biggest driver of US growth,” Bessent said, framing the technology as a pillar of both economic expansion and national security.
The remarks come as President Donald Trump continues to emphasize AI in talks with Chinese President Xi Jinping, with both leaders reportedly discussing the role of artificial intelligence in trade, security, and global innovation.
Bessent’s comments highlight the administration’s dual focus, leveraging AI to boost US productivity while maintaining dominance in the global technology race.
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