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Morgan Stanley, one of the largest investment banks in the US, stated in its research report published on August 7th that artificial intelligence and its associated technologies will create a transformation across sectors and become one of the most important secular investment themes for the next 10 years.
Emphasis on Artificial Intelligence and its Associated Technologies as a “Secular Investment Theme”
Morgan Stanley, the giant investment bank, investigated whether the recent superior performance in the sector is a forming or inflating bubble and concluded that the performance of the artificial intelligence index does not conform to the historical peak pre-bubble returns. According to Morgan Stanley, artificial intelligence and its associated technologies will become one of the most important secular investment themes for the next 10 years. A secular investment theme is a long-term upward trend that is not dependent on market cycles.
Edward Stanley and Matias Ovrum, analysts at Morgan Stanley, noted in the report, “Since we do not know the peak date of the current artificial intelligence bull run, we assume that the productive market rally initiated with the launch of the viral artificial intelligence chatbot ChatGPT, and therefore we measure the current rally from December onwards.”
According to Analysts, Artificial Intelligence is Far from Peaking
The report highlights that typical investment bubbles tend to rise by a median of 154% and on average by 217% in the three years before reaching their peak. While winners of artificial intelligence hype such as Nvidia (NVDA) have gained over 200% so far, it is stated that the broader artificial intelligence index has only increased by about 50% and has not yet surpassed the peak levels of 2021.
Stanley and Ovrum emphasized in the note attached to the report that “stickiness and breadth of adoption distinguish artificial intelligence from previous hype cycles,” indicating their focus on the tendency of artificial intelligence hype to continue.
Goldman Sachs, Morgan Stanley’s rival and a Wall Street giant, also published a similar report, predicting that the adoption of artificial intelligence will begin to have a significant impact on the US economy between 2025 and 2030.
