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Paradigm-Shifting
Technologies
AI
Infrastructure
Laying the Groundwork
Supercomputing Witnesses Significant Progress
Significant increases in computing speeds and efficiency are propelling the AI revolution and boosting productivity.
AI Could Accelerate Corporate Profitability
AI could extend the benefits of the information age and continue to have a significant impact on corporate profitability, potentially driving both earnings growth and overall macroeconomic expansion.
AI Infrastructure Spending Is Surging
The potential for productivity growth is spurring investments in AI infrastructure. Four tech giants—Amazon, Google, Meta, and Microsoft—are expected to spend upwards of $213 billion in capital spending in 2024.
AI Is Fueling a Data Centre Boom
With AI requiring specialised infrastructure and more computing power, increased construction of data centres in the United States is needed.
GPUs and Custom-Made AI Chips Could Fuel Semiconductor Growth
Alongside training GPUs, the AI chip market is being boosted by custom-made chips for specific workloads, which are increasingly being used by cloud data centres. By 2030, spending on AI chips is expected to grow to nearly $500 billion, up from just $70 billion in 2023.
U.S. Data Centre Power Demand Expected to Double by 2030
In six years, the power used by U.S. data centres is expected to double—surpassing the growth rates of residential, commercial, and industrial power usage.
Robotics
Breakthroughs in Automation
A New Era for Robotics
Responding to reshoring agendas and a tight labour market, some U.S. manufacturers are investing in automation, with installation of industrial robots growing each year since 2020.
Robotics in Manufacturing
Rising hourly wages for many U.S. manufacturing workers and the decreasing costs of robotic setups are contributing to accelerating robotics adoption in manufacturing, arguably making robotic automation critical for companies to stay competitive.
Humanoids Present the Next Robotics Breakthrough
With increasing access to advanced AI, humanoid robots—machines that resemble a human being— could present one of the next frontiers in automation, with the devices integrating into everyday life.
Growth of Humanoid Sales Mirrors Early Automobile Adoption
Just as autos transitioned from a nascent idea to widespread consumer sales in less than 10 years in the late 1800s, humanoids could be poised to take off
Humanoids Could Present Large Total Market Opportunity
In addition to industrial use cases, humanoids are likely to be adopted for a variety of household and domestic applications such as housework, security, and entertainment.
Defence Technology
Shield of Innovation
Growing Conflicts Push Military Spending Higher
Fueled by the war in Ukraine and escalating tensions in the Middle East, world military expenditures hit an all-time high of $2.44 trillion in 2023.
U.S. Defence Spending Expected to Reach $1 Trillion
With a proposed top line of $886 billion for 2024 fiscal year defence spending, the U.S. Congressional Budget Office projects defence spending in the United States will surpass $1.1 trillion by 2032.
Is Defence Going Digital?
Military spending has traditionally revolved around conventional hardware and the supply of ammunition. Current budgets reflect an increase toward research and development that bolsters digitalisation.
AI in Defence Tech
As AI and robotics play more pivotal roles in modern warfare, the U.S. military’s request for funds for AI investment has doubled in two years.
Increases Anticipated in Drone and Autonomous Vehicle Spending Worldwide
Military spending on drones and autonomous aerial vehicles is projected to double by 2030 as these products could prove key to next-generation defence.
Shifts in Cybersecurity Spending Point to Increased Importance of Software
As cloud-native and AI-native security solutions come to market, spending on cybersecurity could increase as the sector sees a shift from services to software.