In recent years, Artificial Intelligence (AI) and Machine Learning (ML) have become dominant forces in the tech world. It is changing the way our industries are working. Plus, it provides endless possibilities for innovation. For investors, finding out which tech stocks are for sure going to benefit from this revolution is crucial.
So, which companies should you keep an eye on as AI and machine learning continue to grow?
The Importance of AI for the Future
The potential of AI is enormous. A report by McKinsey says, AI could add $13 trillion to global economic activity by 2030. It is expected to automate repetitive tasks and totally change the way we function on a day to day basis.
Key Tech Stocks to Watch
1. NVIDIA (NVDA)
There is no doubt that NVIDIA is one of the leaders in AI. It creates graphic processing units (GPUs) which are very crucial in training artificial intelligent models and running machine learning algorithms. Interestingly, many of today’s AI applications rely on NVIDIA GPUs including the self-driving cars and data centers.
NVIDIA has also been dedicated to integrating AI into its products for years, and its products are vital components of deep learning in the most advanced AI today. With the growing need for new computing applications, increased demand for AI capabilities, and a robust fortress of premier clients, NVIDIA is in a position to ride this wave profitably.
2. Alphabet (GOOGL)
Alphabet is a key player in AI and machine learning. Google has invested heavily in AI research and development, making its AI capabilities some of the most advanced in the world. Machine learning is embedded in many of the company’s core products, from Google Search to Google Assistant.
3. Apple (AAPL)
Apple is known for consumer hardware but it is ramping up on Artificial Intelligence. Apple’s iPhone contains Siri, the virtual assistant, which, thanks to machine learning algorithms, can recognize voice and respond.
Apart from Siri, Apple has included Artificial Intelligence in its products for other uses, such as facial recognition, AR, and smart recommendations. AI is also already present in the company’s progress in owning more health technologies, such as how the Apple Watch can use machine learning to check health indicators.
Apple’s decision to tie AI into hardware and software future development makes it a strategic player in the future of AI for consumers.
4. Amazon (AMZN)
Amazon has been using AI for years to improve its operations and enhance customer experiences. As e-commerce continues to grow and AI becomes increasingly central to Amazon’s business, the company’s stock is well-positioned to benefit from the expansion of machine learning technologies.
The Future of AI – What’s Next?
Even though the above companies are pioneers in the AI and machine learning industry, more advancements are expected in the future. Looking at the future we can foresee new applications of AI in such fields as healthcare, transportation, and finance.
For instance, in the healthcare industry, through AI, diagnostics is poised to transform how diseases are diagnosed totally. In the automotive industry, self-driving technology is set to advance and may revolutionize the transportation system in general.
Machine learning algorithms will also improve and increase smart decision-making and automation. The growth of a new generation of quantum computers may also spur the advancement of AI, which can lead to new, more complex models of constructing artificial intelligence, as well as faster data processing.
AI is still a relatively young subject and it can be safely stated that in the future it will also create new investment opportunities. This is why, paying attention to these tech stocks and seeing how they are applying AI to the existing and future business strategies, investors will be ready for future success.
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