Artificial intelligence (AI) is rapidly transforming various industries, from healthcare to finance, and the market for AI technologies is expected to reach $900 billion by 2025. With such significant growth potential, investors seek ways to capitalize on this AI boom. Bank of America recently released a list of the top 20 stock picks in the AI industry, which they believe offer the best investment opportunities.
– Artificial intelligence has become a mainstream concept since the introduction of ChatGPT, an AI chatbot that went viral.
– It is anticipated by Bank of America that Artificial Intelligence will have an estimated value of $900 billion worldwide by 2026.
– Bank of America has identified the 20 best stocks for investing in Artificial Intelligence (AI).
AI has quickly become one of the foremost influential technologies of our generation. From chatbots and autonomous vehicles to predictive analytics and fraud recognition, AI is already starting to revolutionize the business environment.
The utilization of AI is predicted to be a major factor in the success of businesses over the coming years as numerous corporations endeavor to utilize its power for better functioning, improved productivity, and an edge over the competition.
The last couple of sentences have been generated by ChatGPT, the AI chatbot from OpenAI that has become a sensation on social media. This newfound popularity has resulted in substantial investment in stocks associated with this cutting-edge technology, prompting some analysts to anticipate further rapid development of AI.
Bank of America has recently commented on the AI revolution and how investors could benefit from it. The financial institution anticipates that the world’s AI sector will expand by 19% annually and reach a remarkable $900 billion by 2026, which is twice what is expected in 2022.
Bank Of America
The Bank of America predicts numerous entities will benefit from the forthcoming AI revolution. Cloud analytics firms and semiconductor producers will give it both the capacity and muscle, as they are essential in supplying the necessary computing power and data for efficient AI operation.
Fears exist that AI may eventually substitute certain white-collar occupations. Bank of America pointed out that media jobs centering on making text, pictures, videos, or music are the most vulnerable to disruption. Just as automation and robotics influenced manual laborer roles, some industries could also be affected.
20 Stocks That Will Profit From The Ai Boom
Analysts from Bank of America recently commented on the impact ChatGPT has had in popularizing Artificial Intelligence (AI). This can be compared to the iPhone’s effect on propelling smartphone usage, as AI is becoming more mainstream due to ChatGPT’s presence.
A February 28 note from four BofA researchers headed by Eric Lopez, head of EMEA equity research, indicates that twenty companies will receive the greatest advantage from the burgeoning AI field.
Below are the names, with their respective tickers, market capitalization in US dollars, price targets in local currency, and analyst commentary from BofA covering them. All of them are buy-rated except Adobe and Apple, rated neutral.
The rapid advancement of AI technology presents exciting investment opportunities in various industries, and the growth potential is significant. Bank of America’s list of the top 20 stock picks in the AI industry provides investors with valuable insights into companies well-positioned to benefit from this AI boom. By investing in these companies, investors can take advantage of the growth potential of the AI industry and potentially reap significant rewards.
Source: Business Insider
