AI Could Shrink Public Companies by 20%, an Allianz GI CIO Warns

Artificial intelligence will usher in a period of “digital Darwinism” that will be “very, very brutal” for companies that fail to adapt, according to the chief investment officer of Allianz Global Investors’ global equities business.

“AI is both a threat and a huge opportunity,” Virginie Maisonneuve said at the Bloomberg Investment Management summit in London Wednesday. “It’s very hard to make a forecast, but 15% to 20% of companies listed today could not be here in five years time.”

The advent of AI has driven a massive rally for the perceived winners of the nascent technology such as chipmaker Nvidia ...