The key that Ibercaja lays out in 2026: true adoption of artificial intelligence
Ibercaja Gestión warned that it will be in 2026 when winners and losers will derive from implementing… artificial intelligence In companies. The company believes that productivity and efficiency will no longer depend on large investments and will be measured by the ability of companies to effectively integrate this technology.
According to its investment manager, the market is not already ruling out that AI will be an occasional driver, but its impact will come not through the macroeconomics, but through the microeconomics: the individual profitability of each company. Then, the manager asserts, he will begin to notice a clear discrepancy in the results.
Slow adoption is about to accelerate
Of the 500 most valuable companies in the US S&P 500 index, only 10% have adopted AI in their daily operations. Ibercaja Gestión, as reported by CincoDías, believes that this current low penetration contradicts the pace of implementation planned in the coming quarters, driven by the need to reduce costs without sacrificing productivity.
The manager points out that this difference in the pace of adoption will be crucial in explaining the profit gap that will open between companies. He points out that some companies are already showing signs of lagging behind in this technological race.
Sectors that focus on the greatest potential
- financial: The sector’s performance in 2025 makes it a key bet for 2026.
- Technological: It will continue to be one of the main focuses due to its ability to integrate artificial intelligence into strategic operations.
- pharmaceutical: Implementing advanced models of R&D opens up relevant opportunities.
- active: AI drives demand analysis and network optimization, enhancing its appeal.
Strategic movement in fixed income
With a weight of up to 80% in its investment portfolios, fixed income continues to form the core of Ibercaja Gestión’s strategy. The company extended the terms of its European debt products from 12 to 48 months, taking advantage of the European Central Bank’s interest rate cuts. This extension allows monitoring the revaluation of bonds issued in previous cycles with higher coupons.
Profitability achieved between January and November, more than 3%, remained in line with inflation. However, the new context forces an adjustment of the strategy, as the entity does not expect any further immediate cuts in the euro area.
Shift towards the United States
Ibercaja Gestión is now directing part of its strategy towards fixed income in the United States. The market gives a high probability of a new interest rate cut by the Federal Reserve, which creates a favorable environment for placing bonds with the possibility of revaluation.
The slowdown in hiring in the United States and analysts’ expectations reinforce these expectations. The company believes that this window allows it to diversify and improve the risk and return profile of its investment portfolios.
How will artificial intelligence affect company valuations?
The advancement of artificial intelligence will redefine the standards of valuation in the stock market. For Ibercaja, operational efficiency will become a central indicator, even higher than the amount of investment made. In other words, allocating resources to AI will not be enough: it will be necessary to demonstrate effective integration that enhances margins.
Differentiation that will directly impact the markets
The entity asserts that once AI is integrated as a cost-reduction system across all industries, the gap between efficient and inefficient companies will be clearer. The development of the stock market in 2026, according to their estimates, will be characterized by this difference.
Ibercaja Gestión’s analysis concludes that companies that manage to position themselves early in this technological shift will be better positioned to benefit from the new economic cycle. These forecasts, along with its fixed income strategy and review of its preferred sectors, set a clear map for investors in a year when AI will be crucial.
With this scenario, Ibercaja Gestión aims for 2026 to be the year that will definitively reveal who will lead the new productive system characterized by Amnesty International Who will be left behind?