When asked about arguably the best company that is manufacturing AI tools for the world, Mobius cited Amazon as the best example.

Emerging markets guru Mark Mobius, the co-founder of Mobius Capital Partners, has decided to step down and establish a base in Dubai to invest in technology and AI-related stocks in emerging markets across the globe. But what’s the rationale behind it? Here’s what the 87-year-old has to say.

“The area will be only emerging markets again but the focus will be on technology” the market veteran said in a conversation with CNBC TV-18. He added that he is looking for companies that use AI or artificial intelligence extensively, and India is probably the best example of that.

Also read: China’s loss is India’s gain, Mark Mobius bets more investments coming

While Mobius is yet to identify specific companies in the Indian landscape, he clarified that technology stocks, for him, are the ones that use AI to increase their profitability and efficiency.

The emerging markets guru said that he is most interested in software companies that develop AI tools. “Soon after that, we shall move to companies that use AI in day-to-day operations to improve their efficiency”, Mobius said, answering a question about a specific sector that has will be looking at within the AI umbrella.

When asked about arguably the best company that is manufacturing AI tools for the world, Mobius singled out Amazon. This is because Amazon uses AI to improve their distribution and customer base.

https://www.moneycontrol.com/news/business/markets/mark-mobius-to-shift-base-to-dubai-focus-on-ai-investments-bullish-on-india-11806541.html/amp