Artificial Intelligence as a catalyst for a sustainable growth
Generative artificial intelligence could increase global GDP by 7%, or nearly $7,000 billion, within ten years, according to an analysis by Goldman Sachs . This impressive figure illustrates the extent of the disruption caused by technologies associated with artificial intelligence – and the importance of this market for investors.
Published on 5 May 2025
Seizing on major trends
Since 2009, major trends have been at the heart of CPRAM's investment strategy. A pioneering approach driving by our desire to support the major changes in our societies and economies.
Over the years, our multi-sectoral approach to these major trends has demonstrated its relevance. From medical to environmental issues, from agri-food to digital, we have identified the tectonic forces that are shaping tomorrow's growth. Today, AI can no longer be ignored. The rapid pace of technological development and the rapid adoption of the tools derived from these technologies by users have convinced us of their immense disruptive potential.
If we are at a turning point, it is because we now have technologies mature enough to allow AI to take off. One example among others is the spectacular increase in the computing power of computer chips, which has been multiplied by 1000 in 8 years. This is enough to shatter the predictions of Moore's Law, which provided for a doubling of this capacity every two years. Now, from smartphones to supercomputers, from personal applications to professional applications, AI is everywhere. This disruptive and cross-functional nature reinforces our conviction that we are at the beginning of a new cycle of innovation, as the one of the smartphones in the late 2000s.
AI, nothing but AI
A transformation of this magnitude requires an original and ambitious strategy. Capitalizing on our experience of "megatrends", we have implemented a global approach built around three complementary pillars: physical infrastructures, including semiconductors, GPU chip and data center suppliers; facilitators such as cybersecurity, software or consulting players; and finally, companies that use AI. We believe that addressing the entire value chain is the most relevant way to seize the opportunities offered by this technological breakthrough. Among these three pillars, we have chosen to give a central place to infrastructure.
A crucial choice, while we are still at the beginning of the AI wave: the growth of this sector will condition the growth of facilitators and users. AI players are well aware of this: in the 1st half of 2024, spending on AI infrastructure reached $47.4 billion, up 97% year-on-year; they are expected to exceed $223 billion by 20282. And while new data center shipments are expected to reach a record in 2025, they won’t be enough to meet growing demand3.
Supporting the AI cycle
The scale of the technological, economic and social phenomenon, that is AI also requires common reference frameworks. We have therefore decided, in collaboration with MSCI, to capitalize on the analysis carried out on this theme and to launch an index dedicated solely to it: the MSCI ACWI IMI Artificial Intelligence Select Issuer Capped index. Our ambition with this index is to provide a reference tool to best capture the potential and challenges of AI.
We are at the beginning of a new cycle of innovation and growth – and now is the time to put in place the beliefs, strategies and tools that will make this cycle profitable for everyone.
1. https://www.goldmansachs.com/insights/articles/generative-ai-could-raise-global-gdp-by-7-percent
2. https://www.idc.com/getdoc.jsp?containerId=prUS52758624
3. https://www.jll.fr/fr/etudes-recherche/marches/are-data-centers-being-built-fast-enough