Investing Ideas

Artificial intelligence: Opportunities beyond the tech sector

 
Utilities, several services segments, and industrials all represent potential AI-related plays.

By: Tom Rollins Michael Hickey
Updated: 7/11/2024
Key Takeaways
  • The use of artificial intelligence appears to be broadening across a range of industries, and across market cap and capital structures, as companies seek new ways to gain efficiencies and competitive advantages.
  • Several infrastructure investment themes related to AI buildouts, including among utilities, have driven market performance in the sector.
  • Professional services has embraced the use of AI at more than double the overall rate, which is why several Fidelity portfolio managers have focused their attention mainly among services sectors.
  • The industrials sector also appears likely to increase its AI adoption in the coming years.
  • Active managers at Fidelity continue to rely on bottom-up analysis, although they are tracking corporate AI-related investments that appear likely to contribute to a strong return on investment, operational efficiency, cost savings, and/or higher profit margins.
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