As Artificial Intelligence gradually begins to take over the world, investors need to stay one step ahead by recognizing the potential in companies involved with the technology. According to RBC, the “capacity unlock” of AI will give businesses the opportunity to expand their capabilities significantly. Along with the cloud, SaaS, and mobile developments in the past, Generative AI will be the fourth major technology to revolutionize the way businesses and customers interact.
Although Microsoft has been a popular name mentioned in the recent AI conversation, RBC notes that it may still be too early to count out Alphabet despite their past issues. Deep learning AI capabilities, such as ChatGPT, amplifies the potential of businesses that take advantage of the technology, including big tech entities, niche industry companies, and mid-sized software companies.
To capitalize on this trend, RBC has identified a list of 17 stocks to watch as AI increases its presence in the market. Microsoft is one of the companies, and RBC notes that the technology giant has been investing in AI for more than a decade. Alphabet, the parent company of Google, is also mentioned and RBC believes their search revenue may not be at risk.
The research team at RBC, composed of Rishi Jaluria, Brad Erickson, Matthew Hedberg, and Matthew Swanson, have analyzed the market and suggested these stocks as the best AI investment opportunities. These 17 stocks range in size and industry, providing investors with a broad range of options to choose from.
For those investing in this technology, they should keep in mind the importance of prioritizing software development, security, and customer service improvements. This list of 17 stocks provides the perfect starting point for investing in the future of AI, with some of the most promising investments in the market. With these stocks, investors can put their money behind this revolutionary tech today and reap the rewards of the “rising tide” of AI that is transforming the world.
