THE emergence of artificial intelligence (AI) has presented a new realm of possibilities and perils.
Despite initial displacements, AI, as in past technological innovations, will drive productivity gains over a longer time horizon.
According to McKinsey, AI could potentially deliver additional economic output of some US$17-25 trillion by augmenting labour productivity, reducing costs, and creating new revenue streams.
Against this backdrop, we remain constructive on Big Tech for the long term, on account of their compelling fundamentals, new revenue drivers, and augmented innovation.
Big Tech companies have thus far emerged as structural winners under the irreversible trends of technological disruption...
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