AI, the investment world’s Taylor Swift, steals the show at Hong Kong summit
Money mongers at the Global Financial Leaders’ Investment Summit forecast AI would bring massive but uneven benefits for investors
Artificial intelligence is becoming the Taylor Swift of the investment world – a force expected to deliver benefits to industries and consumers while rewarding investors, though money managers cautioned that not all companies will reap rewards.
During the final day’s programme on Wednesday, a panel-discussion moderator drew a playful analogy, asking whether AI was overhyped or the US pop star. The four asset managers on stage offered a unanimous, lighthearted answer, saying it was the latter.
The pop star’s economic impact, known as “Swiftonomics”, generated billions of dollars for local economies through tourism, hospitality and retail spending wherever her concerts played.
The impact of AI was “absolutely not overhyped”, said Hendrik du Toit, founder and CEO of Ninety One. “This is a change which is going to be massive and has only started.”