Tools & Platforms
AI Boom Seen Driving Next Decade of Emerging Markets Performance
(Bloomberg) — Emerging-market funds are pivoting to capture the artificial intelligence craze, with some investors predicting that booming technology spending will drive returns for years to come.
Encouraged by the success of Chinese AI developer DeepSeek and Asia’s powerhouse semiconductor firms, asset managers like AllSpring Global Investments and GIB Asset Management are concentrating more of their portfolio in AI stocks. That’s been a winning trade, with AI companies being the six biggest contributors to the rally in Bloomberg’s EM stocks index this year.
“This trend could last for the next 10 to 20 years,” said Alison Shimada, head of total emerging markets equity at AllSpring, which oversees $611 billion. “The impact on local populations within EM will be transformational.”
While much of the AI investment frenzy has focused on a handful of Silicon Valley firms, EM companies that can harness the technology or supply crucial components are benefitting. AI servers, for example, have become the main growth driver for Taiwan’s Hon Hai Precision Industry Co., which is known as Foxconn.
The top contributors to Bloomberg’s EM stock index this year are Taiwan Semiconductor Manufacturing Co., Tencent Holdings Ltd., Alibaba Group Holding Ltd., Samsung Electronics Co., SK Hynix Inc. and Xiaomi Corporation, together accounting for 37% of the index’s rally.
Emerging-market stocks that are highly exposed to AI have even outperformed the so-called Magnificent Seven megacap tech firms so far this year, according to equities strategists at Citigroup Inc.
“You cannot invest in emerging markets without having a sanguine and optimistic view of what this AI story can evolve into from a corporate earnings perspective,” said Kunal Desai, London-based co-portfolio manager for global emerging markets equities at GIB Asset Management.
Desai said that Taiwan and South Korea will be “central drivers” of the EM market story over the next two to three years, with Malaysia, China, India, parts of Latin America and the Middle East seeing “disproportionate gains” due to their exposure to AI data and applications. His fund has invested in AI stocks during recent market dips, predicting that a third of emerging market returns will come from AI-related stocks in the coming years.
There are signs that the momentum will continue as AI adoption accelerates across segments including cloud computing and electrical vehicles. The average estimate of forward 12-month earnings for EM tech stocks has increased 15% since the start of the year, compared to 6% for EM stocks overall.
“The share of AI contribution from the performance standpoint will only grow from here,” said Xingchen Yu, an emerging markets strategist at UBS Global Wealth Management. “The rise of AI and tech is creating a new layer of secular growth, especially in North Asia.”
The AI revolution could help EM stocks overcome a key obstacle: earnings performance. Company results have lagged forecasts every quarter since early 2022, with MSCI EM Index companies collectively missing profit expectations by more than 12%, according to data compiled by Bloomberg.
But firms in the AI-heavy information-technology sector have consistently met earnings projections since the fourth quarter of last year, boosting investor confidence.
“This sector has been expected to grow explosively and will continue to do so in the future,” said Young Jae Lee, senior investment manager at Pictet Asset Management Ltd. “AI will continue to be a key sector within emerging markets.”
–With assistance from Jorgelina do Rosario.
More stories like this are available on bloomberg.com
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Tools & Platforms
OpenAI Unveils Jobs Platform, Certification Program to Match Workers With AI-Era Employment
- OpenAI is launching the OpenAI Jobs Platform, a marketplace designed to connect AI-skilled workers with employers, as part of its effort to address workforce disruption and create new opportunities as AI adoption accelerates.
- The platform will feature candidates across expertise levels and support hiring for large companies, small businesses, and governments, with early partners including the Texas Association of Business, Walmart, John Deere, BCG, Accenture, Indeed, and state governments.
- Complementing the platform, OpenAI will expand its Academy with new certification programs available directly in ChatGPT, aiming to certify 10 million Americans by 2030, positioning AI fluency as a critical workforce credential.
OpenAI is rolling out a jobs platform and certification program designed to connect AI-skilled workers with employers, part of a broader push to address workplace disruption as artificial intelligence spreads across industries, CEO of Applications Fidji Simo announced in a blog post.
The OpenAI Jobs Platform will serve as a marketplace for businesses seeking employees fluent in AI tools and for workers looking to apply those skills. The platform, which will feature candidates at multiple levels of expertise, is intended to streamline hiring for large companies, local businesses, and government agencies. Groups including the Texas Association of Business plan to use the system to link thousands of employers with AI-trained talent, according to Simo.
Other partners include John Deere, Boston Consulting Group, Accenture, Indeed, and several state governments, the company said.
The move comes as employers increasingly cite AI expertise as a critical requirement for future competitiveness. OpenAI said it will complement the platform with a certification program to validate workers’ AI skills. The certifications build on the company’s OpenAI Academy, a free online training hub launched earlier this year that has already drawn more than two million participants. The expanded program will allow users to prepare for and earn certifications directly in ChatGPT, from basic AI fluency to advanced prompt engineering.
The company aims to certify 10 million Americans by 2030. Walmart, the world’s largest private employer, is among the first partners, the company pointed out.
“At Walmart, we know the future of retail won’t be defined by technology alone—it will be defined by people who know how to use it,” John Furner, CEO, Walmart U.S., said in a statement. “By bringing AI training directly to our associates, we’re putting the most powerful technology of our time in their hands—giving them the skills to rewrite the playbook and shape the future of retail.”
OpenAI indicated its initiatives highlight the dual nature of AI’s economic impact: the technology is expected to generate new opportunities while disrupting traditional roles. Jobs will look different, companies will have to adapt, and all of us—from shift workers to CEOs—will have to learn how to work in new ways,” Simo wrote.
She pointed out the launch aligns with the White House’s AI literacy campaign and as they move forward, the initiatives will focus on the needs of employees and employers.
“It’s all about being intentional about the kind of future we want to build,” Simo wrote. “If we want to put more power into the hands of more people, not just a fortunate few, we need to help everyone, at every level, take advantage of the opportunities that come with AI. We’ve still got a long way to go, but this is an important step in the right direction.”
Tools & Platforms
OpenAI Unveils Jobs Platform, Certification Program to Match Workers With AI-Era Employment
- OpenAI is launching the OpenAI Jobs Platform, a marketplace designed to connect AI-skilled workers with employers, as part of its effort to address workforce disruption and create new opportunities as AI adoption accelerates.
- The platform will feature candidates across expertise levels and support hiring for large companies, small businesses, and governments, with early partners including the Texas Association of Business, Walmart, John Deere, BCG, Accenture, Indeed, and state governments.
- Complementing the platform, OpenAI will expand its Academy with new certification programs available directly in ChatGPT, aiming to certify 10 million Americans by 2030, positioning AI fluency as a critical workforce credential.
OpenAI is rolling out a jobs platform and certification program designed to connect AI-skilled workers with employers, part of a broader push to address workplace disruption as artificial intelligence spreads across industries, CEO of Applications Fidji Simo announced in a blog post.
The OpenAI Jobs Platform will serve as a marketplace for businesses seeking employees fluent in AI tools and for workers looking to apply those skills. The platform, which will feature candidates at multiple levels of expertise, is intended to streamline hiring for large companies, local businesses, and government agencies. Groups including the Texas Association of Business plan to use the system to link thousands of employers with AI-trained talent, according to Simo.
Other partners include John Deere, Boston Consulting Group, Accenture, Indeed, and several state governments, the company said.
The move comes as employers increasingly cite AI expertise as a critical requirement for future competitiveness. OpenAI said it will complement the platform with a certification program to validate workers’ AI skills. The certifications build on the company’s OpenAI Academy, a free online training hub launched earlier this year that has already drawn more than two million participants. The expanded program will allow users to prepare for and earn certifications directly in ChatGPT, from basic AI fluency to advanced prompt engineering.
The company aims to certify 10 million Americans by 2030. Walmart, the world’s largest private employer, is among the first partners, the company pointed out.
“At Walmart, we know the future of retail won’t be defined by technology alone—it will be defined by people who know how to use it,” John Furner, CEO, Walmart U.S., said in a statement. “By bringing AI training directly to our associates, we’re putting the most powerful technology of our time in their hands—giving them the skills to rewrite the playbook and shape the future of retail.”
OpenAI indicated its initiatives highlight the dual nature of AI’s economic impact: the technology is expected to generate new opportunities while disrupting traditional roles. Jobs will look different, companies will have to adapt, and all of us—from shift workers to CEOs—will have to learn how to work in new ways,” Simo wrote.
She pointed out the launch aligns with the White House’s AI literacy campaign and as they move forward, the initiatives will focus on the needs of employees and employers.
“It’s all about being intentional about the kind of future we want to build,” Simo wrote. “If we want to put more power into the hands of more people, not just a fortunate few, we need to help everyone, at every level, take advantage of the opportunities that come with AI. We’ve still got a long way to go, but this is an important step in the right direction.”
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