About Mary Erdoes
Mary Erdoes, CEO of JPMorgan Asset & Wealth Management, said in November 2025 that artificial intelligence is not a bubble, calling that idea a "crazy concept." Speaking at CNBC's Delivering Alpha conference, she described AI as a "transformative opportunity" and a "major revolution" in how companies operate, comparing its potential impact to a process that will happen "slowly, then all at once." Erdoes stated that the market is still figuring out how to price AI's potential and that companies are only beginning to harness its power, predicting "explosive growth in both revenue and expenses."
Regarding the broader economy, Erdoes said she does not foresee a recession in the near term, noting that people have been predicting one for five years without it materializing. She characterized the current environment as a "great buying opportunity" for credit investments. Erdoes also discussed the shift in investment options, noting that investors must consider whether they can sustain periods of illiquidity when accessing private markets. She has emphasized that diversification is key to preserving wealth, stating that while people often build wealth by mastering one thing, they keep and grow it through diversification.
Source: AI-verified profile updated from Mary Erdoes's recent appearances.
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Transcript (13 segments)
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Narrator0:00
Here's a bold statement. Artificial intelligence, AI, isn't a fleeting bubble. It's a transformative opportunity that's only just beginning to reveal its potential. But here's where it gets controversial. While some investors are fixated on whether AI is overvalued, others like Mary Erdoes, CEO of JP Morgan Asset and Wealth Management, argue that the real focus should be on the untapped possibilities it brings. And this is the part most people miss. The current market fluctuations around AI aren't signs of a bubble bursting, but rather the growing pains of a revolutionary shift in how companies operate. During CNBC's delivering alpha event in New York City on November 13th, 2025, Erdoes addressed the elephant in the room, skyrocketing valuations of AI related companies like Nvidia and AMD. While these valuations have caused market volatility, Erdoes emphasized that AI's true impact is still misunderstood.
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Mary Erdoes1:01
We're just on the precipice of something massive. The world is still figuring out how to price AI's potential, and companies are only beginning to harness its power. It's like Hemingway's famous line about bankruptcy. It happens slowly, then all at once. That's exactly what's coming for AI.
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Narrator1:22
Erdoes flat out dismissed the idea that AI is a bubble.
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Mary Erdoes1:24
That's a crazy concept.
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Narrator1:28
Instead, she sees AI as the catalyst for a major revolution in business operations. But she also acknowledged the disconnect. While the US is gaining traction, we're far from realizing AI's full bottom-line impact.
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Mary Erdoes1:43
You'll see explosive growth in both revenue and expenses, and suppliers will need to navigate this pipeline carefully.
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Narrator1:49
Erdoes isn't alone in her optimism. Michael Arafy, CEO of Aries Management, echoed her sentiment, arguing that current AI investments are a drop in the ocean compared to its potential.
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Michael Arafy2:05
We're not investing nearly enough relative to the economy size. The demand is outpacing supply and the hype is real because the numbers and the revolution are that big.
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Narrator2:15
But here's a thought-provoking question. Are we overestimating the risks of AI's growth, or are we underestimating its long-term impact? Erdoes, for one, isn't worried about a recession anytime soon.
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Mary Erdoes2:28
People have been predicting one for 5 years, and it hasn't happened.
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Narrator2:32
Instead, she sees the current climate as a golden opportunity for credit investment.
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Mary Erdoes2:40
If a recession isn't on the horizon, now's the time to lean in and buy.
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Narrator2:45
So, is AI a bubble or a breakthrough? The answer, according to Erdoes and Arafy, is clear. It's a breakthrough. One that demands patience, investment, and a willingness to embrace the unknown. What do you think? Is AI overhyped, or are we only scratching the surface of its potential? Let's hear your thoughts in the comments.
