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Investors have treated some established software and data companies as potential AI casualties, but fund manager Nick Train argues they may be among the beneficiaries. He points to their existing customers, specialist expertise and proprietary data as advantages when putting AI to work.

In an interview with Interactive Investor, Train cited recent share-price recoveries at London Stock Exchange Group, RELX and Sage, and said Sage is already delivering AI-related savings and time gains to customers. Those are Train’s assessment and examples, not independent proof that AI is driving the rebounds. The useful question is whether these companies can turn their customer relationships and data into lasting advantages, rather than simply adding an AI label to familiar products.

Discuss: In the AI race, should investors back the model-makers or the established businesses that can put the tools to work?

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