Aim to grow wealth with companies that adopt innovative strategies: ICICI Prudential

In today’s day and age of Artificial Intelligence, Quantum Computing, hyper-automation, and industry cloud platforms, it is important to stay relevant with your investments too.

In this episode of Smart Money, the focus is on innovation in investing, why innovation is important and what are the different kinds of innovation in 2023.

Anish Tawakley, Deputy CIO—Equity, and Head—Research at ICICI Prudential Mutual Fund, aims to grow wealth with companies that adopt innovative strategies. He added that innovation is the key driver for market cap creation.

Tawakley said, “Typically, in any industry, the market-share gainers are the ones who are innovating. Obviously, there are some exceptions, like commodities, there's very little innovation, but in most industries, other industries, you find innovative companies gaining market share. If you enter these companies at the right time, at a reasonable valuation, then you end up creating wealth.”

Talking about innovation in healthcare Tawakley said, “In healthcare, the way technology is being used for diagnoses, for increasing access and then for treatments, right, the treatments that are available today are obviously far more advanced than treatments that were available earlier. The machines that are delivering them are superior, etc. In fact, the entire pharma industry the non-generic part of it is is innovative. So, I mean, in this industry, there's phenomenal innovation actually at every step of the way.”