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Beyond AI: Future innovations worth investigating
Investing in tech can be tricky – where should investors look for the next big thing?
In the past few years, we’ve heard talk of technology’s ‘next big thing’ applied to various innovations – whether it was cryptocurrency, non-fungible tokens (NFTs), or more recently, artificial intelligence (AI). Of course, the technology sector is well known for cycles of hype, but the impact on the global economy of a real technological breakthrough can be immense.
Truly groundbreaking tech innovations can have massive knock-on effects for a range of industries and governments, transforming both business and society at large. But there is a very important cautionary note here if you are an individual investor, and that is to look beyond the hype. It’s never advisable to focus all your attention on 1 sector only, even if you consider yourself a tech expert.
Long-term tech investing
The hype cycle can lead to investors becoming too hooked on the tech sector. It is crucial to diversify your investments to reduce your risk. This is especially true for long-term investment in tech. Industry research shows that overconcentrating your portfolio holdings in any of the large US technology companies is a great idea when they are on their way up in terms of value. However, after becoming 1 of the top 10 stocks in the US market, their gains tend to fall away. Most of them fail to outperform the market after they reach the top 10.
Therefore, try to diversify your investment in different sectors, while keeping in mind that many tech trends are interconnected with other industry sectors, such as cloud computing and fintech. If you’re a more speculative investor, keep an eye on what these tech-driven sectors and their dominant companies are doing, but don’t overcommit to 1 sector.
If you’re interested in investing in innovative technology with the potential for rapid global growth, what should you be looking out for, beyond the hype?
1. AI may still have surprises in store
AI has been at the forefront of much technology hype for the past year, and AI companies continue to attract significant investment. From machine learning to natural language processing, AI has transformative potential across various industries. While large language models (LLMs) have dominated the AI discussion – for example, how apps like ChatGPT make it much easier to search and process natural language – this is only the beginning.
Generative AI (GenAI) is gaining prominence by reducing app development time and bringing powerful capabilities to non-technical users. McKinsey estimates that GenAI could add almost $5 trillion in global economic value through specific apps and productivity enhancements. It does so by building on existing technologies like applied AI and industrial machine learning.
The technology sector can be challenging to predict – especially if you’re investing in the future success of a new technology
GenAI can automate, augment and accelerate work by tapping into unstructured datasets to enable the creation of new content in various forms, such as text, video, code, and even protein sequences. This applicability across different industry sectors makes generative AI very interesting for investors and businesses looking for drivers of growth.
One of the main underpinnings of GenAI is the spread of models trained in machine learning. These can be used to solve classification, prediction and control problems to automate activities, add or augment capabilities and offerings, and make better decisions across corporate organisations, assembly lines, and other complex business and industrial contexts.
A rapidly evolving ecosystem of software and hardware solutions is enabling practices that accelerate and reduce the risk involved in the development, deployment and maintenance of machine-learning solutions. With the rapid spread of AI – both in generative technologies and in machine learning – there are many individual companies worth examining in the sector with investment potential.
2. Quantum computing promises more speed and efficiency
This is a relatively new technology trend, so you’d need to assess the long-term potential of any investment carefully. The automotive, chemical, financial services and life science industries, among others, could potentially gain more than $1 trillion in value by adopting quantum computing over the next 10 years, again according to McKinsey.
Put simply, quantum computing provides computing power for data computations that are not possible for conventional computers, due to the complexity and magnitude of the information. Investments in the field are often coupled to investments in companies specialising in superconductor technology.
3. Superconductors to power the future
Innovations in superconductors have ushered in a new era of technological advancements, transforming various industries from energy to computing. The development of room-temperature or high-temperature superconductors allows for more practical applications, because they operate at more accessible temperatures.
Superconductors in quantum computers enable the creation of more efficient, more scalable quantum processors. In the energy sector, superconducting cables are revolutionising power transmission by allowing for zero electrical loss while carrying vast amounts of power over long distances.
Superconducting magnets enhance the performance and efficiency of medical imaging like MRI machines and transportation technology such as maglev trains. These innovations reflect the growing potential of superconductors to reshape technology and contribute to a more sustainable, efficient, interconnected world.
4. Renewables and climate technologies
Electrification and renewable energy are becoming increasingly urgent in the global commitment to net-zero emissions to combat climate change. If you are looking to invest in a forward-looking, healthy sector for new technologies and companies, you have a choice of solar-, wind-, and hydro-powered renewables, as well as nuclear energy, sustainable fuel companies, and electric vehicles and the technologies to charge them.
Beyond renewable energy technologies, you can also look to invest in a range of companies involved in developing and marketing climate technologies like carbon removal and storage, alternative proteins and agriculture, and water and biodiversity solutions.
The technology sector can be challenging to predict – especially if you’re investing in the future success of a new technology, app or tech business. Nedbank offers sound, expert advice on investment vehicles and ways to approach the investment market.
