Ed Ludlow

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Bloomberg Tech is live from coast to coast with Caroline Hyde in New York and Ed Ludlow in San Francisco.

That investment cycle is underwritten by a productivity story as the technology diffuses into the market.

And it's on the back of that data that, yes, we've been able to identify where there are companies that have been sold indiscriminately, and there's a real opportunity.

In research, we're a heavy adopter.

of AI technology.

And the conversations we're having right now with large language models is how do we connect those models to the applications and data that we use every day to unlock the real potential?

And so you can see that the list

that we published last week, the thread across the software and services companies are where there is a data moat, whether that's credit or it's market data or it's systems of record in financials or customer data.

So what's really important in this dataset is tracking rate of change.

Right now, the rate of change is actually greatest in non-tech categories, particularly in consumer, in apparel, in durable goods, in autos.

Yes, we see areas of software that have been sold indiscriminately where there is a data mode and there's an opportunity, but it's broader than just technology.

What we see in the data is that the AI adopters,

are experiencing margin expansion that's double the market indices, double the MSCI World Index, double the S&P 500.

And so we believe that there's a regime shift happening in the market away from a purely tech and specifically AI enabler leadership to now broadening of AI adoption and leadership, not just in technology, but across all sectors.

But there are areas of thematics, think humanoids.

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