Fund Manager 2024 Wrapped – The Rise of Artificial Intelligence

As the year wraps up, we discuss seven big themes for ASX Investors in 2024, and the outlook for 2025.

The biggest theme this year was, “Artificial Intelligence (AI): The Rise of the Machines”.

Blackwattle Large Cap Portfolio Manager, Ray David, detail ASX beneficiaries poised to outperform in 2025, which extends beyond data centres and developers, but to data rich ASX companies and even the implications for electricity generation.

Pivotable moments in 2024 include Google DeepMind’s CEO, Demis Hassabis, announcing an ambitious $100 billion investment in AI tools, and OpenAI’s valuation soaring to $157 billion.

There were plenty of examples on show for ASX companies investing in AI, signaling a renaissance in business innovation driven by generative AI. This includes applications in:
Rio Tinto (RIO): Analyze historical exploration data.
Commonwealth Bank (CBA): Resolving 15,000+ transaction disputes.
Suncorp Group (SUN): Deployed AI to manage claims progress.
Sonic Healthcare (SHL): AI for faster disease diagnosis and detection.
IT Services: Review and summarize legal agreements.

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