"Allianz executive: AI will initiate digital Darwinism, 20% of listed companies may disappear within five years"

The Chief Investment Officer of Allianz Investment's global stock business has said that artificial intelligence will usher in a "digital Darwinism" era, which will be "very, very brutal" for companies that cannot adapt. "AI is both a threat and a huge opportunity," Virginie Maisonneuve said at the Bloomberg Investment Management Summit in London on Wednesday. "It's difficult to make predictions, but among the current listed companies, 15% to 20% may no longer exist in five years." Maisonneuve expects AI to eliminate some companies while others will be acquired.