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Editorial
AI: INTELLIGENT INVESTING?
It has been hailed as the saviour of humanity by some, while others fear it could lead to our extinction.
Artificial intelligence (AI) could make breakthroughs in medical research that saves lives, but there is a risk that it could become oppressive if given free will. For the pessimists, who include the late Dr Stephen Hawking, popular culture is lit- tered with examples of the dangers that AI could pose. In 1984’s The Terminator, AI was put in charge of the US defence system and decided to start a nuclear war, while in 2001: A Space Odyssey, the ship’s computer decided it was in its best interest to kill the crew by switching off their life support systems. These are, of course, fictional and there are those who are more optimistic about the technology. They believe that AI will make us more efficient, productive and speed up decision making. But there are real fears that it could replace the need for people to work in industries such as IT, banking, marketing, manufacturing and journalism (please note: a machine cannot do a better job than wot I does). Indeed, two-thirds of jobs in the US and Europe are believed to be under threat from greater automation.
The question is: if AI could develop new antibiotics, write songs and set a legal defence in court, could it also make us better investors?
Our cover story this month looks at what benefits AI could have for those managing assets and how they should use it? Find out from page 16.
This edition also looks at what the changing geopolitical scene means for institutional investors (p.22), if we are winning the battle to create efficient sources of clean energy (p.38), how private equity could perform in a new investment environment (p.46) and how to make collective defined contribution (CDC) schemes more appealing (p.50). We also speak with Jane Firth, who discusses how Border to Coast is driving real change (p.34), while the TfL Pension Fund’s head of investment reminds us that not every scheme suffered during the LDI crisis (p.12). We hope you enjoy the issue.
Mark Dunne Editor
m.dunne@portfolio-institutional.co.uk
Issue 124 June 2023 | portfolio institutional | 3
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