By Lazare Hounhouayenou (in photo) – European equity fund manager at BNP Paribas Asset Management
The craze for innovation and technology is not new, the human mind is naturally inclined towards novelty. However, when we talk about technology adoption, we mostly think of the digital revolution of the last 50 years which began with the arrival of the personal computer in the early 1980s, then continued with the deployment from the internet in the 90s, the smartphone in the early 2010s, until the latest wave of innovation with the development of artificial intelligence which emerged around 2 years ago.
The adoption of new technologies is increasingly rapid and requires increasing investments. According to Microsoft CEO Satya Nadella, spending on technology is expected to double over the next decade. Private investment in artificial intelligence represented a cumulative total of $300 billion over the period 2021-2023.
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