Appetite for (AI) disruption

Interesting chart linking US companies’ labour costs with their exposure to AI automation. In a nutshell, sectors like software and business services are labour-intensive (think programmers, engineers, consultants) but also more exposed to AI-driven automation (e.g., automated coding, copilots, workflow agents). Conversely, sectors like food & beverage appear less exposed to AI automation, so the direct impact should be more limited.

Investors love simple themes. Under the “AI disruption” narrative, the red zones are currently the ones being sold. But it raises a key question: is the market oversimplifying the story?

While the corporate world is changing at a dramatic pace, some companies will adapt, reposition, and thrive in an AI environment—often by embedding AI into their products, shifting pricing models, deepening customer lock-in, and improving unit economics. The real edge is not the theme itself, but selectivity: identifying which business models are fragile versus which are resilient and reinforcing in an AI world.