PGIM: Beware the Hype Around Blockchain and Autonomous Vehicles

For futurists, blockchain and autonomous vehicles are sure to transform everyday life and global economies. But that doesn’t mean investors should pour money into the underlying businesses. 

The exuberance around these technologies “is often way ahead of today’s investable reality,” argues global asset manager PGIM in a new report. While institutional investors are often rewarded for being among the first to new asset classes, uncrowded sectors, and start-ups exploiting new innovations, it also comes with risk. 

“As these evolving technologies mature, institutional investors should consider tangible investment opportunities like private blockchains and infrastructure for greener and smarter vehicles,” said the study, which addresses the investment implications of technology disruption in the services sector. 

Taimur Hyat, chief operating officer at PGIM, Prudential Financial’s $1.5 trillion public and private asset management business, pointed out that investors need to be aware of the stances of regulators in different countries. In China, for example, there is a lot of regulatory support behind autonomous vehicles, while in Europe, there are serious concerns about the employment impact that self-driving vehicles could have on the workers who currently operate traditional means of transportation, such as truck and taxicab drivers. 

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