In times of rapid technological change, markets often fixate on the immediate—headlines, hype, and the next big breakthrough. The bigger story is what unfolds over the long term as adoption spreads and market leadership shifts. In this Better Vantage video, Vanguard Global Chief Economist Joe Davis speaks with Christine Kashkari, editorial director of WSJ Custom Programming and cohost of the Better Vantage by Vanguard podcast series, about what AI could mean for markets and why volatility may be part of the path.
Davis draws on 150 years of technology history to highlight a familiar pattern: Early gains often concentrate among the builders—the companies supplying foundational tools, chips, and platforms. But as adoption broadens, a quieter transition begins—what Davis calls the “great rotation.” Value can move toward the adopters—firms across health care, manufacturing, finance, and logistics using AI to improve efficiency, reduce costs, and support sustainable growth. That’s where opportunities can begin to emerge.
Watch the video for more on why investment opportunities can evolve over time, even as the technology trend remains intact.
Notes:
- All investing is subject to risk, including the possible loss of the money you invest. Diversification does not ensure a profit or protect against a loss.
- This content was created by Custom Content from WSJ, a unit of The Wall Street Journal Advertising Department.