tech
How to play the AI-driven ‘blue-collar renaissance’
Oppenheimer sees artificial intelligence driving a "blue-collar renaissance" as automation threatens to replace office jobs and boost physical trades.
TL;DR
- Artificial intelligence (AI) is feared to disrupt white-collar jobs, potentially leading to unemployment and stock market sell-offs.
- Oppenheimer suggests AI could conversely create a "blue-collar renaissance" by driving demand for skilled trades involved in building and servicing AI-related machinery.
- This phenomenon represents a "nuanced reshaping of the labor market," with increased demand for goods and services produced by traditionally blue-collar jobs.
- Oppenheimer identifies five investable themes: physical-to-digital connection (sensors, data pipelines), automation tools for workforce reskilling/upskilling, in-field labor augmentation, autonomous physical systems, and less AI-affected industries like agriculture.
- Specific companies are highlighted within each theme, including Aeva Technologies, Aptiv, Caterpillar, Deere, Rockwell Automation, Vertiv, Aurora Innovation, International Flavors and Fragrances, and Ingredion.