Tag: Bank of America

Bank of America predicts the global AI software market will hit $900 billion by 2026. Specialized hardware, such as networking chips, will be in high demand to speed up machine learning processes.

Will the recent AI stock rally in the stock market continue? Experts predict a temporary trend with limited earnings growth and pessimistic outlook.

Artificial intelligence-powered chatbots in banking are causing headaches for customers, warns the US Consumer Financial Protection Bureau. Privacy invasion, transmission of inaccurate financial information, and customer dissatisfaction are potential issues with AI programs like Bank of America's Erica and several others. The CFPB urges banks to prioritize trust between their clients and institutions as they continue to monitor the situation.

Top-performing mega-cap companies like Apple, Nvidia, Alphabet, Microsoft, and Amazon are fueling the strong 2023 stock market performance. However, experts see optimism for the future even if these companies experience a decline. AI-software market predicted to boom $787B by 2026. Bank of America strategists have named top 20 stocks that will lead the market.

Bank of America reviewed 30 AI-focused software stocks, ranking the top 20 for the AI opportunity using factors like quality data and vertical solutions. Nvidia's latest earnings were boosted by demand for its GPU chips used in AI, causing the company's stock to soar over 24%. Investors should analyze potential winners based on factors that lend itself to success within the sector.