The first wave of AI investment went to industries already rich in software: coding, marketing, customer support, knowledge work.
The next wave will be more consequential, because it moves into physical industries where margins are thin, operations are manual, and every point of efficiency counts.
The reason is easy to miss but decisive: the thinner a company's margin, the more a saved dollar multiplies into profit.
Logistics is the clearest example.
The thinner the margin, the bigger the multiplier
