Robotic and AI equity performance is rising, creating opportunities for productivity growth
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With U.S. robotics and AI investments representing the highest performing sector in 2023, Societe Generaleâs Cross Asset Research said Wednesday that the industry has the potential to create productivity growth across the economy.
Robot technology is a sector poised for growth, with 150 stocks â two thirds in the U.S. â focused on application and system software and machinery, the firm said in a U.S. equity strategy note. The SG Rise of the Robots index has recorded a 36% performance year-to-date, as shown in the graphic below, provided by SG Cross Asset Research:

Breaking down the index, the firm reported that application software encompasses more than a quarter of the index, followed by semiconductors, systems and software, machinery and healthcare equipment.

"AI tools greatly enhance labor productivity without rendering the human workforce obsolete," the firm stated.
Generative AI could boost U.S. labor productivity by 0.5 to 0.9 percentage points annually through 2030, SG Cross Asset Research said, pointing to data from McKinsey Global Institute data. "When combined with other automation technologies, the growth potential is even greater, potentially driving US productivity growth to 3 to 4 percent annually."
Globally, the AI market is valued at $136.55B as of 2022. North America could have significant gains, with a projected 14.5% increase in GDP by 2030, SG Cross Asset Research said, citing statistics from PWC. This could result in a combined $10.7T economic impact, nearly 70% of the global total, the report showed.
Megacap stocks have dominated the AI discussion in 2023, with analysts pointing to names like Meta (META), Microsoft (NASDAQ:MSFT), Salesforce (CRM) and Nvidia (NASDAQ:NVDA) as potential players in various aspects of the technology. Meanwhile, smaller stocks have also received notice, like UiPath Inc. (PATH) and C3.ai, Inc. (AI).
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