* 'Improvements Facilitated by Artificial Intelligence, Coupled with Streamlined Labor Spending, Should Lead to a Productivity Boom Not Seen in Decades,' Says BofA Strategist The extremely high valuations of S and P 500 stocks are the 'new normal' because the internal structure of the market is very different from what it was a few decades ago, says Savita Subramanian, an equity strategist at Bank of America (BofA), Business Insider reports.

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