Goldman Sachs has stated that artificial intelligence (AI) has become too big to ignore and is expected to take over a quarter of current jobs and automate about two-thirds of roles, which could potentially increase annual global GDP by $7 trillion over a ten-year time frame. As a result, investors are interested in profiting from the AI trend, causing shares of large-cap tech companies like NVIDIA, Microsoft, and Alphabet to skyrocket in 2023. More than 60% of management teams running S&P 500 firms in communication services and IT sectors acknowledged AI during their first-quarter earnings calls, which attracted investors. Goldman Sachs revealed 15 buy-rated stocks for investors to consider, focusing on buying three-month over-the-counter call options, and firms in a wide range of industries, including software, semiconductors, technology hardware, media, internet, and information technology services, that are either directly advancing AI or indirectly enabling it.
Goldman Sachs is a US-based multinational investment bank and financial services company that offers prime brokerage, securities underwriting, investment management, and securities trading services. It is one of the largest investment banks in the world, providing products and services to corporations, financial institutions, governments, and individuals.
Sesha Phani, a vice president of derivatives research at Goldman Sachs, authored the article, which revealed insights into the AI trend, potential benefits, impacts on global GDP, and 15 buy-rated stocks that investors can consider.
