Artificial intelligence (AI) is often viewed through the lens of disruption, job losses, and the race among technology companies to build increasingly powerful models. But ace investor Vijay Kedia believes history points to a different outcome.
In a post on X on 9 June, Vijay Kedia argued that “many people worry that AI will take jobs. History suggests a different possibility. Refrigerators, electricity, highways, and the Internet created opportunities for entire ecosystems. AI may follow the same path. The invention creates the opportunity. The application creates the fortune.”
While a handful of companies may create AI, the larger economic opportunity could emerge for businesses that successfully apply the technology to solve real-world problems. So, let's understand which sectors are going to benefit from using AI.
What history says about inventions
To explain his point, Kedia compared how earlier technological breakthroughs have transformed industries and created wealth far beyond their original inventors.
Refrigerator
The first example was the invention of the refrigerator. While refrigeration technology itself was revolutionary, some of the biggest beneficiaries were beverage companies, which were able to distribute cold drinks across wider markets and significantly expand their customer base.
Kedia reshared his X post from 5 January 2025, in which he said, “Just as the invention of fridges enabled Pepsi and Coca-Cola to dominate globally, AI will empower users to create and innovate. The true beneficiaries of AI will be those who harness its potential, not just the developers.”
Electricity
The second example was the invention of electricity. The major gains did not accrue only to power generation companies. Instead, electrification improved productivity across thousands of businesses, helping entire industries grow more efficiently.
Highways
The third example cited by Kedia was the development of highways. He mentioned that “wealth was created not only for the builders but also for transporters, warehouses, hotels, restaurants, and countless businesses connected to them. An entire ecosystem prospered".
Drawing parallels with these innovations, Kedia argued that AI could follow a similar trajectory.
“Many people think only the companies creating AI will benefit from AI. History tells a different story. Some companies will create AI. But many businesses and industries may create enormous value by using it. The winners may not be only those who create AI. They may also be those who apply AI most effectively," says Kedia.
Which sectors will benefit from using AI?
He mentioned that several sectors could benefit from AI adoption, including technology services, banking and financial services, healthcare, manufacturing, retail, e-commerce, logistics, education, and insurance.
- Technology & IT Services: Helping businesses adopt, integrate, manage and scale AI solutions.
- Banks & Financial Services: Smarter decisions, faster services, better risk management.
- Hospitals & Healthcare: Better diagnosis, personalised care, efficient operations.
- Manufacturers: Predictive maintenance, quality control, and higher productivity.
- Retailers & E-commerce: Personalised experience, demand forecasting, efficient supply chains.
- Logistics & Transport: Route optimisation, real-time tracking, lower costs, happier customers.
- Education & Institutions: Personalised learning, administrative automation, better outcomes.
- Insurance Companies: Better underwriting, fraud detection, faster claims settlement
…. and many more," explained Kedia.
What did Vijay Kedia say about AI adoption?
In his X post, Kedia mentioned that “invention creates the opportunity. The application creates the fortune. New technologies come and go, but value is created by those who solve real problems for real people. Learn. Adapt. Apply. That's how fortunes are made”.
Summarising his post, Kedia underscores that breakthrough technologies do not only benefit those who invent them. The real fortunes are built by businesses that successfully apply those inventions at scale and create tangible value for customers.
The AI revolution will be no different. The biggest wealth creators may not be the companies building AI, but those finding the most effective ways to use it.