Artificial intelligence is already revolutionizing industry, like it or not.
Wall Street occasionally seizes upon futuristic themes with religious fervor, bidding up shares in companies that supposedly lead in one space or another. AI once occupied that “fascinating-but-far-off” thematic market sector, but the best artificial intelligence stocks to buy today use techniques like machine learning and neural networks routinely as a core function of their business. Millions of consumers interact with AI directly or indirectly on a day-to-day basis via virtual assistants, facial-recognition technology, mapping applications and a host of other software. That said, this is just the early innings, and the area’s profit potential is hard to overstate.
The first big investment wave in tech was the personal computer. Then came software, the internet, smartphones, social media and cloud computing.
The next big thing is artificial intelligence, or AI, professional stock pickers say.
AI is the science-fiction-like technology in which computers are programmed to think and perform the tasks ordinarily done by humans.
The size of the global AI market is expected to grow to $202.6 billion by 2026, up from $20.7 billion in 2018, according to Fortune Business Insights. Funding of upstart AI companies by venture capitalists remains brisk. Last year, 956 deals valued at $13.5 billion took place through the third quarter, putting AI deal activity on pace for “another record year,” according to PitchBook-NVCA Venture Monitor.