The ASX-listed tech sector shouldn’t bank on AI boom, says Barrenjoey

After a month of listening to companies espouse the virtues of artificial intelligence, analysts have warned investors not to be seduced by the hype and that its biggest benefits could be realised outside the tech sector.

A wave of AI breakthroughs that has lifted the stocks of companies such as Nvidia, Microsoft and Google featured heavily in local investor presentations throughout the earnings season, which wrapped up last week.