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The analysts said in a note that the breadth, depth, and speed of change posed by AI are leaving many investors looking to history for a guide on stocks.
“Across 80 structural positive and negative adoption curves over the past 50 years, downside disruption occurs sooner and twice as quickly as upside diffusion,” the analysts wrote.
The analysts also noted that AI is “challenging the historical path that has played out over 70 bubbles over the past century.”
“Image AI tools (e.g. Midjourney) are already 50% lower than peak search,” they added. However, they added that “technology of all kinds has proven consistently deflationary,” and they “suggest investors familiarise themselves with the emerging debate on virtual assistants.”
