Disruptive technology has a reputation as a giant killer, but the latest technological breakthroughs in the services sector will not bury all of today’s market leaders — they will lift some of these companies to greater heights, according to new research from PGIM, the $1.5 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).
Services now represent three-quarters of the workforce in developed markets, two-thirds of global GDP and more than one-third of the typical institutional portfolio. PGIM’s report, Reshaping Services: The investment implications of technological disruption, examines how advances in cloud computing, artificial intelligence (AI), machine learning (ML) and big data are impacting three of the economy’s largest industries: healthcare, finance and logistics.
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