AI and the Great Transformation: A Global Investor’s View

What this episode covers

Artificial intelligence is moving from promise to practical impact, reshaping companies, industries, and the global economy. In this new season, AI at Work: From Promise to Impact, we look beyond the hype to examine where AI may create lasting value, where expectations may be too high, and what investors should be watching as the technology moves into the real economy. Across the series, we explore the next phase of AI adoption, from the infrastructure and capital investment required to support it, to the rise of agentic AI, physical AI, sleeper beneficiaries, and the wider implications for productivity, labor, inflation, and growth. In the opening episode, Jennifer Martin sits down with Dave Eiswert to ask how a global investor thinks about AI. They discuss why AI is not just another software cycle and how AI is becoming a capital-intensive infrastructure cycle, dependent on compute, power, memory, networking, data centers, cooling, and supply chains. Dave also explains why as AI adoption grows, physical constraints may become increasingly important in determining where value is created and captured in this AI cycle.

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