Picking AI Winners Proves Tougher for Australia’s Pension Funds

Australia’s top pension funds agree that artificial intelligence is a major US investment opportunity for the A$4.5 trillion ($3.1 trillion) industry. What’s less certain: how they’ll pick the future winners as bubble fears mount.

Fresh from a tour of Silicon Valley, Washington and New York — where Australian pension chiefs met top investors and Trump administration officials eager to tap the world’s fastest-growing pool of retirement savings — the mega-funds are this week hosting Wall Street leaders on home turf as they hunt for places to deploy their record inflows.