Robocap: Threat of AI washing is a major concern for institutional investors
New global research from fund manager Robocap, a leading investor in robotics, automation and AI listed stocks since 2016, reveals that 37% of pension funds, insurance asset managers, family offices and wealth managers with combined assets under management of $1.183 trillion, are very concerned that companies are making false claims about the extent to which they use AI and the positive impact this is having on their operations. A further 63% are quite concerned about this issue.
There are several types of AI washing. It could include companies claiming to use AI when in fact they are using less-sophisticated algorithms. It could also involve overstating the efficacy of their AI over existing techniques, or falsely claiming that their AI solutions are fully operational.
Over the next three years, more than a quarter (26%) of the professional investors surveyed believe that AI washing will worsen slightly while 3% believe it will get much worse. However, almost two-thirds believe the problem of AI will become less severe, and 7% say it will not change.
Robocap is a thematic equity fund focusing on pure-play robotics, automation and AI listed stocks globally. This fast-growing theme includes AI cyber security, AI software, general automation, industrial robotics, healthcare robotics, drones, autonomous vehicles, key components, semiconductor automation, space robotics, logistics automation, and the multiple applications of Artificial Intelligence across its value chain.
