Artificial intelligence (AI) is quickly becoming the new electricity, according to Bank of America. In a recent report, the bank named its top picks for investors looking to capitalize on this breakout trend.
The emergence of AI has been one of the most significant technological advancements in recent years and it’s only expected to grow more powerful over time. AI can be used in many different ways, from automating mundane tasks to helping businesses make better decisions faster than ever before. As such, Bank of America believes that investing in companies that are leveraging AI could be a great way for investors to benefit from this trend.
In their report, Bank of America identified several stocks they believe have strong potential due to their use of AI technology: Microsoft Corporation (MSFT), Alphabet Inc (GOOGL), Amazon Web Services (AWS), NVIDIA Corporation (NVDA), Salesforce.com Inc (CRM) and Adobe Systems Incorporated (ADBE). All six companies have made significant investments into developing or utilizing AI technologies and are well-positioned for growth as demand increases across industries.
Microsoft is already using its Azure cloud platform with machine learning capabilities while also investing heavily into research and development related to artificial intelligence solutions like natural language processing and computer vision systems. Similarly, Google’s parent company Alphabet has invested billions into developing self-driving cars powered by deep learning algorithms as well as other projects related to robotics and automation through its X division which focuses on moonshot initiatives like Project Loon – an effort aimed at providing internet access via high altitude balloons around the world – among others . Amazon Web Services offers various services including machine learning tools that allow customers build applications with predictive analytics capabilities while NVIDIA provides hardware components specifically designed for deep learning applications such as graphics processing units which enable faster training times when compared with traditional CPUs alone . Finally Salesforce’s Einstein platform enables customers develop custom apps powered by artificial intelligence while Adobe uses Sensei software suite which helps automate tedious tasks like image recognition or facial recognition within photos taken by users .
Given these developments , Bank Of America sees tremendous potential in all six stocks mentioned above but cautions investors against putting too much money into any single stock given market volatility . The bank recommends diversifying portfolios across multiple sectors so that if one sector experiences a downturn , there will still be other areas where returns can remain positive despite market conditions . Additionally , they suggest keeping an eye out for smaller firms who may not yet have achieved mainstream success but could become major players once their products gain traction amongst consumers or businesses alike .
Overall , Artificial Intelligence is rapidly changing how we interact with technology today – from automated customer service agents answering questions online ,to robots performing surgery -and it looks set continue doing so moving forward making now an ideal time invest in companies leveraging this revolutionary technology before everyone else catches up !