The rapid adoption of generative artificial intelligence has boosted markets this year, but after the initial euphoria, investors are waking up to the possible risks, including the need to be highly selective in stock-picking
AI letters are placed on computer motherboard in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/IllustrationBut businesses face challenges like staff cutsMILAN, June 26 - .
McKinsey says generative AI could add $7.3 trillion in value to the world economy each year and believes half of today's work activities could be automated between 2030 and 2060. "It's not a given that AI will only have a positive impact. There could be a deflationary effect," said Gilles Guibout, who helps manage over 820 billion euros as head of European equities at AXA Investment Managers in Paris.
That might reduce sales growth and cause share price underperformance, especially for companies that face strong competition or where growth depends on headcount.
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