The writer is head of Pictet Research Institute

Research on demographics mostly looks at the perils of a shrinking labour force on economic growth but ignores what automation and artificial intelligence does for productivity. Likewise, research on automation and AI focuses on jobs that may be lost, but overlooks the demographic issues they may solve. Put the two together — ageing populations with automation/AI — and there are clusters of investment opportunity.

We all know that advanced economies face a rise in dependency ratios — the number of retirees to workers. By 2080, China is expected to have more people over 65 than aged 15 to 65. Happily, as these demographic pressures increase, automation technology and AI is beginning to reshape productivity.