Pfizer CEO Albert Bourla and Wells Fargo CEO Charlie Scharf raised concerns about the U.S. losing its competitive edge to China due to inconsistent policy and underinvestment. They believe AI can help America maintain its lead. AI is expected to reduce workforces but boost productivity, a trend already seen in big banks like JPMorgan and Goldman Sachs.

Scharf anticipates major regulatory changes in the financial sector despite political stalemate. Bourla is worried about China’s dominance in biotech and pharmaceuticals, pointing to increased research spending and patent filings. He urged the U.S. to focus on improving productivity and innovation rather than slowing China down.

Pfizer recently secured a drug pricing deal with the Trump administration, removing uncertainties around pricing and tariffs. Bourla sees AI as the future of medicine, predicting it will revolutionize drug discovery and accelerate finding treatments for diseases like Alzheimer’s and cancer.

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