Artificial intelligence is beginning to reshape the global economy with unusual speed. From media to finance, activities once considered defensible are being automated, accelerated or commoditised. As this shift gathers pace, investors are asking a more fundamental question: which assets remain structurally resilient?
Live sport, in my view, sits in a distinct category. The reason lies in the nature of what artificial intelligence does well. AI scales repeatable processes. It generates, optimises and predicts. But live sport isnât a repeatable process. Itâs unscripted human competition. Its value rests on uncertainty, physical limits and emotional stakes. Those characteristics canât be reproduced synthetically in any meaningful way.
Simulations can be sophisticated. Probabilities can be modelled with increasing precision. But they canât replicate the lived tension of a final, or the collective experience of watching an outcome unfold in real time. As more content becomes abundant and algorithmically generated, genuinely scarce moments may become more valuable.
This doesnât make sport immune to technological change. On the contrary, AI is already reshaping the infrastructure around it.
Performance analytics, injury prevention and officiating are becoming more data-driven. Broadcasters are using AI to personalise feeds, translate commentary and reach new audiences. Commercial operations, from ticketing to pricing, are becoming more sophisticated.
Much of the long-term value, however, sits in these surrounding layers rather than in the competition itself. Data systems, distribution platforms and engagement tools can scale globally. The underlying product, the live event, remains finite.
That combination of scarcity and scalability is unusual. In an economy increasingly saturated with digital supply, scarcity tends to command a premium. There are only so many elite competitions, only so many decisive matches, only so many moments that carry genuine consequence. Technology can expand access to those moments, but it canât increase their number.
For investors, the most attractive opportunities often lie where those two dynamics intersect: scarce live competition paired with global, technology-enabled distribution.
There are, however, new risks. As sport becomes more data-intensive, questions of integrity and governance become more complex. Betting markets, biometric data and performance analytics all introduce vulnerabilities. Oversight matters more, not less.
Thereâs also a more subtle risk. If technology fragments the viewing experience too aggressively, it may erode the shared, communal aspect that gives sport its cultural weight. The value of sport isnât only in the contest, but in the fact that itâs watched together.
The same logic extends beyond elite competitions. Grassroots and community sport retain relevance because they anchor identity and belonging. Technology may change how fans discover teams or consume matches, but it doesnât alter why they care. Loyalty is built slowly and often inherited across generations.
Stepping back, the broader point is that not everything of value is optimisable. Artificial intelligence improves efficiency. But efficiency isnât the same as meaning.
Sectors rooted in human performance, shared experience and cultural significance may prove more durable than those built primarily on information processing. Live sport sits firmly in that category.
It will evolve alongside technology, becoming more data-rich and more globally distributed. But itâs unlikely to be replaced by it.
Nicole Junkermann is an international investor focused on technology, sports and media. She leads NJF Holdings, a global investment group, and its sports platform Gameday by NJF Holdings, which invests in sports leagues, media rights and technology-driven fan engagement. Her work in the sector focuses on building long-term sports infrastructure and expanding the commercial and global reach of professional leagues.