The views expressed are those of the authors at the time of writing. Other teams may hold different views and make different investment decisions. The value of your investment may become worth more or less than at the time of original investment. While any third-party data used is considered reliable, its accuracy is not guaranteed. For professional, institutional, or accredited investors only.
In part one of Tech WELLcovered, we explored how tech is augmenting work and unlocking our true creative potential. In part two, we profiled how tech disruption is evolving how we have fun, creating vast possibilities for experiences tailored to our interests. Here, we highlight how innovation is helping you control your own destiny with improved guidance for every life stage.
How may AI help you?
Navigating new life stages — like education, relationships, health care, and retirement — has long been filled with uncertainty. In the past, you may have sought guidance from friends or relatives on the best path forward, read self-help books, or scoured the internet. But this advice was rarely data-driven and often not suited to your individual needs, making it challenging to chart a clear path to achieving your goals.
Today, in every life stage and across industries, tech innovations like AI and machine learning are harnessing big data to offer personalized insights and assistance to everyone. This progress reduces unknowns by using hard data to overcome human error and anecdotal inconsistency, boosting your probability of success by enabling you to make more-informed decisions.
Let tech be your guide
Take health care, for instance, which was primarily reactive in the past. Today, innovations offer proactive medical insights, enabling you to take control of your health care journey. For example, genomic sequencing at birth, for cancer patients, and even for healthy adults could soon be the standard of care, allowing for preventative and personalized medical treatments. In addition, wearable medical devices like smart watches or clothing and household items like smart mirrors or toilets will help monitor your health on an ongoing basis. The widespread investment opportunities these innovations present span biopharma companies, genetics-based diagnostics firms, sequencing equipment companies, and medical device manufacturers and supply chains.
AI is also offering unique insights into relationships, aiming to make finding a partner slightly less of a leap of faith. Though often overlooked as an investable area, online dating is an innovative and fast-growing industry (Figure 1). One major online dating company is harnessing big data to help match prospective partners that are best suited to each other, adjusting its algorithms based on each individual’s characteristics, preferences, and ongoing actions on its mobile app. In the future, not only will data-driven matching offer increasingly suitable partners from more in-depth personal data but dating companies could also use this data to help plan ideal dates based on your shared interests, your city’s available options, and your budget.
The benefits (and drawbacks) of big dataThe future will likely see companies combine data across your education, career, health, finances, and personal life. This will help offer synergistic, personalized guidance on how best to fulfill your aspirations and enable increasingly proactive and impactful decision making. For example, if genomic testing shows you are likely to require specific medical treatment in the future, a financial planning company may suggest ways to save enough to cover the related costs based on your finances. A career advisor may even propose new, higher-earning job opportunities based on your educational and career backgrounds.
While data-driven foresight has its merits, it has also raised privacy concerns. Companies will have huge repositories of personal data, including sensitive health and financial information. Data privacy and security will therefore continue to be key areas of risk, potential regulation, and consumer advocacy. The regulatory effort aims to ensure that customers retain control of their sensitive personal information and benefit from the resulting insights (and opportunities) made possible by this new technology, while mitigating the associated risks.
Witnessed. Experienced. Fulfilled.Untangling uncertainty is a lifelong challenge. Fortunately, companies are harnessing data-driven insights to help us navigate every life stage — creating limitless investable opportunities, spanning across supply chains, high-performance chips, cloud computing, software, and professional services.
Notably, these technologies don’t just give individuals the foresight to potentially fulfill their aspirations. They can also do predictive analytics on a larger scale — possibly helping to solve some of the world’s most challenging problems — such as health care inequality, energy efficiency, and other ESG issues.
As tech’s use cases rapidly expand across industries, we think investors need to keep an open mind to the opportunities, cast a wide net, and take advantage of deep research capabilities. Is your tech exposure ready to capture this potential?
Actual holdings will vary and there is no guarantee that the strategies will have the same characteristics as described above.
1Source: US Food and Drug Administration statement, January 2019. | 2Source: ZDNet. January 2020. | 3Source: Company investor reports, 2021.