The Canadian Investor 4 Industries AI Can’t Replace and Stocks on Our Radar
Feb 23, 2026
They highlight four sectors AI is unlikely to replace: natural resources, waste collection, skilled trades, and critical infrastructure work. They explain how physical assets, regulation, and human accountability create durable moats. They flag stocks to watch tied to payments infrastructure and engineering firms benefitting from electrification and grid buildouts.
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Why Funerals Resist AI Replacement
- Bereavement services are unlikely to be disrupted by AI because customers demand human compassion and accountability during grief.
- Dan Kent and Simon Belanger note heavy regulation, health codes, and acquisition-driven consolidation protect margins and market share.
Why Resource Companies Stay AI Resistant
- Natural resources firms are resilient to AI because their value ties to physical commodities and constrained geologic supply.
- Simon Belanger highlights reserve ownership, permits, pipelines and that AI mainly improves exploration and efficiency, not the resource itself.
How Waste Firms Turn AI Into A Moat
- Waste collection won't lose market share to AI entrants because incumbents own landfills and scale to squeeze competitors.
- Dan Kent describes pilots using AI in sorting, sensors for fill-levels and predictive truck maintenance that increase efficiency but consolidate incumbents.