Major technology shifts tend to reshape both our daily lives and stock markets over long periods. The internet is a good example. It transformed how we live and work, and it also created clear winners and losers in markets. AI has the potential to have a similar impact over the years ahead. In fact, we are already seeing this in areas like semiconductors, where demand has surged, and in industries now questioning how AI might disrupt their business models, such as software, professional services and data providers. These changes won’t happen overnight, but they are significant.
AI is moving very quickly. More powerful models are being developed, and we are entering a phase where “agentic AI” – software that can plan, write code or complete pieces of work with limited human input – is becoming a reality. At the same time, the computers that run AI are becoming much more powerful. Companies like Nvidia are developing new hardware that allows AI systems to run faster and more efficiently. The combination of smarter software and more powerful hardware is accelerating progress.
This has the potential to unlock major productivity gains. In some companies, human workers are already shifting from doing the work themselves to supervising AI systems. That speed of change explains why new AI capabilities seem to appear almost weekly.
It reinforces that AI is not a short‑term trend. It is a structural shift that will influence how companies operate, compete and grow. For investors, the challenge is to look beyond the noise and focus on which businesses can genuinely benefit over time.
