Kevin O’Leary: AI could trigger economic depression by 2028, the role of technology in driving innovation, and the impact of Chinese interference on US power projects | The Diary of a CEO

AI's rapid rise could trigger economic depression by 2028, reshaping industries and job markets worldwide.

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Add us on Google by Editorial Team May. 28, 2026

Key takeaways

• AI is predicted to cause significant economic disruptions by 2028, potentially leading to a depression.
• The rise of AI is essential for advancements in healthcare, education, and space research.
• Despite its disruptive nature, new technology historically leads to increased productivity and opportunities.
• Evidence suggests Chinese interference in US power project debates, highlighting geopolitical tensions.
• Data centers face pushback funded by complex networks of contributions.
• Businesses should finance their data centers without taxpayer subsidies.
• Legalized bribery in the US influences the establishment of data centers and their costs.
• AI advancements pose a risk of widespread unemployment, potentially leading to economic depression.
• Companies are incentivized to reduce their workforce to gain competitive advantages.
• New technology is seen as a creator of opportunities rather than a cause of job losses.
• The fear of robots replacing jobs is countered by historical evidence of technology fueling economic growth.
• The impact of AI on the job market is a critical concern for future economic conditions.
• Technological disruptions are uncomfortable but ultimately beneficial for the economy.
• Campaign contributions play a significant role in business regulations and local economies.
• The business community’s current practices reflect a trend towards workforce reduction for market gains.

Guest intro

Kevin O’Leary is a Canadian entrepreneur and investor, and the founder of O’Leary Financial Group and chairman of O’Shares Investments. He is best known as “Mr. Wonderful” on Shark Tank and is the bestselling author of Cold Hard Truth: On Family, Kids and Money.

The economic impact of AI by 2028

• AI is anticipated to cause a significant economic depression due to rising unemployment.

• We are heading towards a significant economic depression due to rising unemployment and AI disruption by 2028.

  — Kevin O’Leary

• The potential for economic downturns is linked to AI’s impact on the job market.
• O’Leary predicts a disaster from AI unemployment and geopolitical conflicts.
• The prediction is based on current trends in AI and employment.
• Understanding AI’s implications on the job market is crucial for economic forecasting.
• The forecast reflects a high level of confidence in the predicted economic conditions.
• The reasoning is grounded in observed trends and expert analysis.

AI’s role in driving innovation

• AI is crucial for significant advancements in healthcare, education, and space research.

• AI is essential for significant advancements in various fields, including healthcare and education.

  — Kevin O’Leary

• The role of AI in driving innovation is underscored by its potential to democratize education.
• AI is seen as a key driver of productivity in the S&P 500 and small companies.
• Data centers are essential for AI’s continued development and application.
• O’Leary highlights the critical importance of AI in future advancements.
• The statement reflects a high level of confidence in AI’s impact on innovation.
• Understanding AI’s role is vital for appreciating its economic and societal benefits.

Technological disruption and economic opportunity

• New technologies, while disruptive, lead to increased productivity and opportunity.

• Any new technology is extremely disruptive change is disruptive and it’s uncomfortable and it always is that way.

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  — Kevin O’Leary

• Historical technological disruptions have ultimately benefited the economy.
• The American economy has consistently turned disruption into productivity and opportunity.
• O’Leary provides a clear explanation of the cyclical nature of technological disruption.
• The benefits of new technology outweigh the discomfort of change.
• Understanding historical disruptions is key to appreciating current technological impacts.
• The reasoning is based on historical evidence and expert analysis.

Chinese interference in US power projects

• There is evidence of Chinese interference in local debates about new power projects in the US.

• I have irrefutable evidence the Chinese are meddling in every place where new power is being proposed in America.

  — Kevin O’Leary

• The interference is linked to geopolitical tensions and strategic interests.
• Understanding the context of proposed data centers in Utah is crucial.
• The pushback against data centers is funded through a network of contributions.

• It’s actually through contributions that are shown through a wide network of different entities…

  — Kevin O’Leary

• The explanation provides insight into the mechanisms behind misinformation campaigns.
• The statement presents a serious allegation backed by claimed evidence.

Financial responsibilities of businesses

• Businesses should bear the costs of their data centers without taxpayer subsidies.

• If you’re gonna do a data center you have to pay for it and you have to pay for all of its costs.

  — Kevin O’Leary

• Taxpayer responsibilities should not include subsidizing business costs.
• The viewpoint reflects a strong stance on financial responsibilities.
• Legalized bribery in America influences the establishment of data centers.

• Since we have basically legalized bribery in America that probably is true.

  — Kevin O’Leary

• Campaign contributions affect business regulations and local economies.
• The claim highlights systemic issues in how data centers are funded.

AI’s impact on employment and economy

• AI advancements pose a risk of widespread unemployment and economic depression.

• If everybody goes to fire 10 to 25% of their employees, we’re going to have not just a recession but a depression.

  — Kevin O’Leary

• The business community is incentivized to reduce their workforce significantly.

• Everybody is in a rush to fire 10 to 25% of their workforce and whoever gets there first gets a competitive advantage.

  — Kevin O’Leary

• Workforce reduction is seen as a strategy for gaining competitive advantages.
• The market rewards companies that reduce their workforce first.
• Understanding the implications of AI on the workforce is critical for economic analysis.
• The statement reflects a high level of confidence in the predicted economic conditions.

Opportunities created by new technology

• New technology creates vast opportunities rather than job losses.

• Every new technology in American history has created vast opportunity productivity and fueled the economy.

  — Kevin O’Leary

• The fear of robots replacing jobs is countered by historical evidence.
• Technological advancements have consistently fueled economic growth.
• The scare factor of job losses due to technology is seen as unfounded.
• Understanding the historical context is key to appreciating current technological impacts.
• The insight reflects a strong viewpoint on the positive impact of technology.
• The reasoning is based on historical evidence and expert analysis.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.