Polar Capital Technology Trust PLC Update from QuotedData
14 Junho 2023 - 7:10AM
RNS Non-Regulatory
TIDMPCT
Polar Capital Technology Trust PLC
14 June 2023
Polar Capital Technology - Update from QuotedData
14(th) June 2023
Me, myself & AI
An inflection point in artificial intelligence (AI) - which
combines computer science and datasets to enable problem-solving -
is close to being reached. Major improvements in output and rapid
adoption make the likelihood that it will become a general purpose
technology - technologies that can affect an entire economy, like
the computer and internet before it - and impact on all parts of
everyday life an inevitability.
Polar Capital Technology's (PCT's) manager, Ben Rogoff, has a
steadfast conviction in the all-encompassing potential of AI and
has been positioning the portfolio towards AI winners, with the
majority of PCT exposure now in companies that he believes will be
AI beneficiaries.
It is estimated that between a quarter and two-thirds of jobs
are exposed to AI automation, with a meaningful uptick in
productivity and economic output expected as a result. A
higher-than-usual cash position puts PCT in a good position to take
advantage of volatility in the market and any buying opportunities
that are thrown up in AI beneficiaries.
PCT's shares are currently trading at an excessively wide
discount to net asset value (NAV) of 13.4%, which seems attractive
given the substantial upside potential in the portfolio's exposure
to AI beneficiaries.
Full Research:
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June 14, 2023 06:10 ET (10:10 GMT)
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