Many of the biggest ideas in technology over the past decade have centered on how people communicate, consume, transact and travel. Over the next decade, however, the most profound innovations—and investment opportunities—could be on factory floors, in operating rooms, at mining sites and energy facilities.
The world's economy is in the early stages of a Second Machine Age—sometimes called a "Fourth Industrial Revolution"—an explosion of new digital technology poised to transform manufacturing and industry as dramatically as the steam engine or telegraph.
"The current pace of technological change is breathtaking," says Ben Uglow, Morgan Stanley's head of research for the Capital Goods Industry. "This is not a vague concept that may happen one day in a hypothetical world. It is very much here and now, as real dollars are being committed, with tangible benefits in efficiency and productivity."
In their newest report, Investing in the Second Machine Age—Picking the Winners, Uglow and his research colleagues take an in-depth look at the six most relevant technologies—artificial intelligence software, autonomous vehicles, Internet of Things (IoT) hardware, industrial software, robotics and semiconductors—and identify companies best positioned to capitalize on this theme.
From Morgan Stanley
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