The AI economy is entering a broader phase as artificial intelligence moves beyond technology companies and into healthcare, manufacturing, financial services and other parts of the economy. At the same time, growing demand for computing power is highlighting physical constraints around electricity, semiconductors and critical materials.

In this episode of The Bid, host Oscar Pulido speaks with Jay Jacobs, BlackRock’s US Head of Equity ETFs, about how the AI economy is evolving. They discuss where AI adoption is taking hold, what can distinguish productive implementation from investment without clear results, and why infrastructure is becoming increasingly important to the AI build-out.

The conversation also examines the intersection of AI investing, physical infrastructure, megaforces and capital markets—from data centers and power generation to robotics, autonomous vehicles and digital assets.

Key insights:

· How AI adoption is broadening beyond the technology sector.

· Why having a defined use case can matter when companies deploy AI.

· Where power, copper and specialized materials may create physical constraints.

· How healthcare and manufacturing are applying AI to complex processes.

· Why robotics and autonomous vehicles represent a shift toward physical AI.

· How digital assets could support machine-to-machine transactions and micropayments.

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AI economy, AI investing, AI adoption, infrastructure, megaforces, capital markets, artificial intelligence

Sources: 2026 Thematic Mid-Year Update “Welcome to the AI Economy”, iShares.com;

This content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. In the UK and non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures.

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273: AI Beyond Tech: How Artificial Intelligence Is Reshaping the Economy

The Bid - An Investing Podcast from BlackRock

273: AI Beyond Tech: How Artificial Intelligence Is Reshaping the Economy