T. Rowe Price Cuts Through AI Hype with New Investor-Focused Podcast

BALTIMORE, MD – July 01, 2026 – As global spending on artificial intelligence is forecast to surge past $2.5 trillion this year, the line between transformative technology and speculative bubble has never been blurrier. Navigating this landscape is the central challenge for today’s investor. T. Rowe Price, a global asset management firm with nearly nine decades of history, is stepping into the fray with a new season of its "The Angle" podcast, aiming to provide a research-driven roadmap through the AI maze.

The new season, titled "AI at Work: From Promise to Impact," launched today, bringing together the firm’s top investment professionals to dissect what they see as the real, tangible effects of AI on the economy. Hosted by Global Equity Portfolio Specialist Jennifer Martin, the series promises a sober look beyond the headline-grabbing valuations of a few tech giants to uncover where durable value is truly being created. This initiative arrives at a critical juncture, as many corporate leaders admit they are still waiting for AI investments to translate into clear revenue growth or cost savings.

From Promise to Profitability

The central theme of the new podcast season is the difficult journey from AI promise to practical, profitable impact. While market enthusiasm is undeniable—with AI-related infrastructure investment alone projected to approach $3 trillion by 2028—the return on that investment remains elusive for many. Recent studies indicate that while AI is a top priority for executives, a significant portion have yet to see clear financial returns, highlighting a gap between spending and strategic success.

T. Rowe Price aims to bridge this gap for listeners by leveraging its fundamental research process. The podcast will feature episodes tackling the technology from multiple angles, from infrastructure constraints to the rise of autonomous AI systems. "What makes this season timely is the number of unanswered questions investors are facing," said host Jennifer Martin in the announcement. "The conversations are intended to bring a research-driven lens to those questions; from how companies are funding AI ambitions to which industries may see meaningful change first and to help listeners separate near-term excitement from longer-term investment implications."

This approach—focusing on fundamental analysis over market momentum—is what distinguishes seasoned asset managers. The series plans to look beyond the most visible technology companies, a crucial perspective when some analyses show that 21% of S&P 500 companies now cite AI benefits, with adopters seeing cash flow margin expansion at roughly twice the global average. The question the podcast seeks to answer is how to identify these future winners.

AI Sleepers: The Revolution in Traditional Industries

Perhaps the most compelling angle for long-term investors is the one that looks beyond Silicon Valley. A key focus of the podcast will be on "AI Sleepers"—the companies in traditional sectors quietly integrating AI to create immense value. Episodes are dedicated to AI's move into the physical world through robotics and autonomous vehicles, as well as its impact on healthcare, industrials, and financials.

This focus is well-placed. In healthcare, for instance, AI is already moving beyond administrative tasks. With over a thousand AI-enabled medical devices cleared by the FDA as of last year, the technology is transforming diagnostics, clinical documentation, and patient engagement. The sector is seeing AI spending grow three to four times faster than the broader health-tech market, as AI assists in everything from drug discovery to predicting patient needs.

Similarly, the financial services industry is rapidly deploying advanced AI. By the end of this year, analysts predict that 40% of business software will incorporate "agentic AI" capable of completing end-to-end tasks like fraud detection and loan processing independently. This isn't just about efficiency; it's about competitive differentiation, with some experts suggesting banks that effectively leverage this technology could see a 15% greater market share. The podcast's deep dive into "agentic AI" and its implications for both hardware and software should provide critical insights for investors trying to understand the next evolution of the tech stack.

The Macroeconomic Earthquake

Beyond individual company performance, AI is a macro-critical force poised to restructure the global economy. The podcast dedicates significant airtime to this, bringing in the firm’s chief U.S. economist and head of global fixed income to discuss productivity, jobs, and inflation. These are not academic questions; they are core to every investment thesis for the coming decade.

Productivity is the holy grail. Evidence suggests that companies most exposed to AI have already seen 40% higher productivity growth than their peers. This AI-fueled investment is a significant driver of GDP growth in the U.S., fueling demand for everything from servers to the power infrastructure needed to run them.

However, this productivity boom comes with a complex and potentially disruptive impact on the labor market. Economists warn of a "two-track" labor market, where jobs that are "professionalized" by AI see rapid wage growth, while more routine roles face displacement. One stark estimate from Goldman Sachs suggests that 300 million jobs globally are exposed to automation. The International Monetary Fund (IMF) has labeled this a "macro-critical transition," warning that while technology has historically created more jobs than it destroyed, the interim disruption can be severe, potentially straining social safety nets.

This dynamic feeds directly into questions about inflation and interest rates. A rapid AI boom could fuel near-term inflation before productivity gains can increase supply and lower prices. The new podcast season's willingness to engage with these thorny, systemic questions is a testament to its serious-minded approach, offering investors a crucial framework for thinking about portfolio resilience in an AI-driven world. By bringing together equity managers, economists, and fixed-income experts, T. Rowe Price is signaling that understanding AI requires a holistic view that transcends a single asset class or sector.