AI-Driven Dollar Dominance: A New Era in Global Finance
Two economists from ASEAN+3 Macroeconomic Research Office (AMRO) have proposed that artificial intelligence could strengthen the global dominance of the US dollar.
Their analysis, published on July 24, 2026, suggests that AI will create a recurring demand for US liquidity through the 'compute-dollar loop,' an economic mechanism based on four steps: electrical energy powers data centers, which convert this energy into billable computing capacity (compute), which becomes a recurring operational expense for global companies billed in US dollars.
AI agents could favor dollar-backed stablecoins for payment settlement, as they meet the need for programmable money. Circle and other sector players have built infrastructures for 24/7 programmable transfers without traditional banking intermediaries.
The economists estimate that the dollar billing of compute will generate a permanent demand for dollar liquidity, creating a structural demand in dollars.