Last week, AI was ‘coming for’ software. This week, it’s part two and the plot has thickened. The disruption narrative has spread beyond enterprise tech into financial services, with banks, insurers and even wealth managers facing fresh questions over underwriting, research and advisory models. Headline markets were broadly flat. But beneath the surface, there was a sharp rotation. Some of the biggest AI winners came under pressure, while investors shifted towards defensives and so-called ‘old economy’ sectors such as utilities and materials. With Jane Parry away, Tom Willis steps in as co-host and is joined by Tom Hibbert, Chief Investment Strategist, to unpack: Why AI disruption fears have spread from software to financial servicesWhether this is genuine structural change or another ‘shoot first, ask questions later’ momentWhy the capital spending plans of big tech are now being scrutinisedWhich areas of the market are quietly benefiting from the shift.The AI story is evolving at pace. Excitement is giving way to scrutiny. And markets are starting to differentiate between hype and durable business models. If you have any feedback on this episode, the podcast overall or questions regarding future topics, please email coffeebreak@canaccord.com. We’d love to hear from you. Investment involves risk. The value of investments and the income from them can go down as well as up and you may not get back the amount originally invested. Past performance is not a reliable indicator of future performance. The information provided is not to be treated as specific advice. It has no regard for the specific investment objectives, financial situation or needs of any specific person or entity. It is accurate at the time of recording and is subject to change. Canaccord Wealth is the trading name of Canaccord Genuity Wealth Limited (CGWL), CG Wealth Planning Limited (CGWPL), Canaccord Genuity Wealth (International) Limited (CGWIL) and Canaccord Asset Management (International) Ltd (CAMIL), which are all subsidiaries of Canaccord Genuity Group Inc. CGWL and CGWPL are authorised and regulated by the Financial Conduct Authority (reference numbers: 194927 and 594155). CGWL and CGWPL are registered in England & Wales at 88 Wood Street, London, EC2V 7QR (numbers 03739694 and 08284862). CGWIL is licensed and regulated by the Guernsey Financial Services Commission, the Isle of Man Financial Services Authority and the Jersey Financial Services Commission. CGWIL is authorised by the Financial Sector Conduct Authority (FSCA) as a financial services provider in South Africa, FSP no. 48055. CGWIL is registered in Guernsey at Dorey Court, Elizabeth Avenue, St. Peter Port, Guernsey, GY1 2HT (number 22761). CAMIL is licensed and regulated by the Jersey Financial Services Commission. Its Guernsey branch is licensed and regulated by the Guernsey Financial Services Commission and its Isle of Man branch is licensed and regulated by the Isle of Man Financial Services Authority. is authorised by the FSCA as a financial services provider in South Africa. Registered in Jersey No: 143275. Registered office: Third Floor, No 1 Grenville Street, St. Helier, Jersey, JE2 4UF.
