Tuesday, 17 February 2026 Reading time : 3 minutes

The rapid development of artificial intelligence (AI) has caused market turmoil. So far, investors have focused primarily on the obvious winners — so-called AI enablers, such as Nvidia, which provide the technological infrastructure.

However, it is not only technology companies that are benefiting from advances in AI: corporates that can create long-term added value through the strategic use of artificial intelligence could benefit from second-round effects. 

History shows that the biggest winners of disruptive technologies were not just the immediate innovators, but also those who benefited from the second wave. The invention of the modern automobile and the subsequent triumph of motorised private transport is a prime example of this: car manufacturers were certainly among the first to benefit from this development. However, the long-term beneficiaries were companies that profited from car-driven suburbanisation, such as Walmart, which became a retail giant thanks to the emergence of suburbs and the expansion of road infrastructure.

A similar situation is emerging with AI. While graphics processor and AI software manufacturers are currently in the spotlight, companies that use AI strategically to transform their business models may offer the most sustainable value creation potential.

There is no simple answer to the question of which industries outside the technology sector could benefit from AI. Nevertheless, some sectors appear promising:

• Automotive manufacturers and suppliers: Electrification and automation are presenting the automotive industry with a dual challenge. AI plays a key role in this, whether in the development of autonomous vehicles, the optimisation of production processes, or the enhancement of driver assistance systems.
• Industry and mechanical engineering: AI is used in core processes such as automation, predictive maintenance and quality control, leading to increased efficiency.
• Energy suppliers: AI enables the real-time analysis and control of electricity flows, helping to match supply and demand more effectively. This is particularly important as the proportion of energy from volatile sources, such as wind and solar, continues to grow.
• Healthcare: Analysing large amounts of data using AI can improve diagnoses, enable personalised treatments, and increase the efficiency of patient care.

The Barrier Reverse Convertible on Iberdrola, Sanofi, Siemens and Volkswagen combines four European companies that strategically use AI. 

However, it is not yet clear today who will benefit from AI in the long term. While the strategic use of the technology offers enormous potential, some industries and companies may come under pressure as a result of this development. 

History also shows that disruptive technologies often lead to unpredictable developments. For instance, the success of the car not only transformed retail, but also gave rise to entirely new industries, such as tourism. The same could happen with AI.

Barrier Reverse Convertible on AI Adopters
14.00% p.a. BRC on Iberdrola, Sanofi, Siemens and Volkswagen
Barrier: 65%
Valor: 151 093 268

Indicative terms

 

Disclaimer
This communication is for marketing purposes. It is neither an offer nor an invitation to submit an offer, to purchase or to subscribe to securities and does not constitute investment advice. You should consult your advisors before making an investment decision. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, financial condition, development or performance of the issuer to be materially different from any future results, financial condition, development or performance expressed or implied by such statements. The present document has not been drawn up by the research department as defined in the rules of the “Directives on the Independence of Financial Research” published by the Swiss Bankers Association, hence these rules do not apply to this document. If securities are mentioned in the communication, the base prospectus, the final terms and any key information document may be obtained free of charge from Zürcher Kantonalbank, Bahnhofstrasse 9, 8001 Zurich, VRIS, and from www.zkb.ch/finanzinformationen.
© 2026 Zürcher Kantonalbank. All rights reserved.