Opportunities on the Horizon: Investing Through a Slowing Economy

Thematic Updates | WEALTH OUTLOOK 2023 | MID-YEAR EDITION | 57 5.3 Generative AI: The beginning of (another) technological revolution DAVID BAILIN Chief Investment Officer JOSEPH FIORICA Head of Global Equity Investment Strategy WIETSE NIJENHUIS Senior Portfolio Manager, Citi Investment Management We are likely witnessing the birth of a technology as significant as the internet itself. The growing demand for generative AI will have ripple effects across industries, withwinners and losers emerging over time. The expected growth in AI suggests investment opportunities for companies that facilitate its infrastructure, such as hardware manufacturers and cloud computing vendors AI will drive enormous productivity gains and incremental economic growth as it is adopted As a new industry, there are risks related to regulation, data privacy and cybersecurity