AI stocks have revolutionized the way Australians invest this year. ChatGPT was one of the major advances in AI technology that revolutionized the way the public perceived AI, and brought the technology to a larger audience. Since AI stocks offer potential for growth and can produce substantial gains in the long run, they have quickly become popular with retail investors.
eToro has developed a service called ‘AI-Revolution Smart Portfolio’ that offers investors a way to start investing easily while understanding their investments, without needing to consult a broker. Investors need to understand the different types of AI, such as machine learning, natural language processing, and computer vision, to assess how they are applied and used in various industries.
Investors aged 55 and up have been most keen to allocate their funding to AI stocks, with a 60% increase in Q1 2023 on Q4 2021 compared to an increase of just 41% for 18-34 year olds. This goes to show that age isn’t necessarily a barrier for understanding new technologies and trends in investments.
AI offers a wide array of applications. Development in the field of AI is continuously advancing, with tech giants such as Microsoft and Amazon pouring investments into the rapidly growing field. Yet such investments should be balanced in order to avoid over-exposure to any one sector.
Josh Gilbert is the Marketing Analyst at eToro. His expertise and opinion provide guidance to investors of all ages and backgrounds. Gilbert stresses the importance of researching investments and getting to know the business, along with the potential rewards AI stocks could bring, to ensure long-term success. He advocates diversifying as an important tool to guard against potential risks.
While AI stocks may be unfamiliar territory to many, the results are encouraging – AI is offering a new and exciting way for Australians to invest. With the right research and strategic approach, it is possible to capitalize on the gains AI stocks can offer going forward.
