Mike Pyle, Deputy Head of BlackRock's Portfolio Management Group joined Bloomberg Open Interest to explain why AI isn’t a bubble and how it’s  reshaping the global economy. He breaks down the short-term inflation hit vs. long-term productivity boom, and why traditional 60/40 portfolios are failing to diversify in an AI-dominated market. He also warns investors may be underestimating the economic risks from the Iran conflict, global oil disruptions, and the Strait of Hormuz crisis.