The hype around artificial intelligence has slowly been fading, as investors become more familiar with the technology and the tech itself loses some of its initial awe. However, AI remains a valuable tool for uncovering new stock ideas that investors can research further, using their own analysis and intuition. While blindly following AI stock picks alone often leads to disappointment, carefully applying your own due diligence to AI suggestions can yield excellent results over the long-haul.

Today, I’ll do exactly that by leveraging Google’s (NASDAQ:GOOG, NASDAQ:GOOGL) new Bard AI system to identify three stocks with the potential to make investors very rich. I chose Bard because this AI system has outperformed rival AI models at stock picking, despite its weaknesses in many other domains. However, I won’t simply suggest investing in Bard’s picks without further research. The key is combining AI’s screening abilities with human judgment.

Although the novelty of AI is wearing off on Wall Street, this technology still excels at initial data crunching to bring specific stocks to the surface, particularly those that investors might otherwise overlook. But researching and evaluating these AI-generated ideas yourself remains crucial. No AI today can match humans’ nuanced reasoning in assessing an investment’s risks and potential.

By using Bard’s suggestions as a starting point, and then applying my own analysis, I aim to discover fresh investment opportunities with asymmetric risk-reward profiles capable of generating substantial wealth. Bard’s track record indicates its stock ideas are worth considering. But only through diligent human examination can I determine if these opportunities truly have profit potential or if caution is warranted.

Let’s dive in!

Brookfield Renewable Partners (BEP)

Bard: “Brookfield Renewable Partners (NYSE:BEP): Brookfield Renewable Partners is a global leader in renewable energy, with a diversified portfolio of hydroelectric, wind, solar, and storage assets. The company’s AI-powered asset management platform helps optimize its operations and maximize returns. As the world transitions to a cleaner energy future, Brookfield Renewable Partners is well-positioned to benefit from the growing demand for renewable energy sources.”

This pick makes sense to me, as Brookfield was one of the biggest winners early in the pandemic, skyrocketing more than 260% from its 2018 bottom to its 2021 peak. However, the magic has since faded, and BEP stock slid more than 25% from its highs even before the pandemic began. Now, the stock sits around levels last seen during the company’s pandemic trough.

In my view, the company’s current stock price offers an opportunity. Analysts forecast 11.3% earnings per share growth this year, potentially accelerating to 15% afterward, with near double-digit growth for the foreseeable future. Revenue growth is expected to approach 10% over the next three years, too. Indeed, paying 13-times forward earnings for such growth potential certainly looks attractive.

Renewables are the future, and Brookfield owns premier assets in an essential industry. With the company’s shares beaten down, I believe substantial upside lies ahead, making this a stock capable of delivering life-changing wealth.

Of course, risks exist, like potential renewable subsidy changes. But weighed against Brookfield’s growth prospects, industry leadership, and discounted valuation, I see compelling asymmetry in the risk-reward trade-off. Therefore, I agree with Bard that BEP stock offers wealth-building potential, especially on further dips. While not flashy, patient, long-term investors could harness significant riches owning this name.

Intuitive Surgical (ISRG)

Bard: “Intuitive Surgical (NASDAQ:ISRG): Intuitive Surgical is a pioneer in robotic surgery, developing and manufacturing the da Vinci Surgical System, a robotic surgical platform used in minimally invasive procedures. The company’s AI-powered systems enhance surgical precision and efficiency, leading to improved patient outcomes. With the increasing adoption of robotic surgery, Intuitive Surgical is poised to continue its growth trajectory.”

There’s no denying this stock is expensive, trading near 45-times forward earnings. However, I believe substantial long-term upside remains with ISRG stock, as Intuitive dominates a massive growth industry intersecting red-hot sectors like robotics, healthcare, and technology.

By combining the growth of technology stocks with healthcare’s stability, Intuitive Surgical provides portfolio ballast, especially as the Nasdaq suffers. This stock likely won’t deliver overnight fortunes, but consistently reinvesting the company’s modest dividends into new shares could compound into something meaningful over decades. And if robotics advancement exceeds expectations, substantial multiple expansion may lift shares far higher down the road.

Past performance provides clues to Intuitive’s potential. Since its IPO, Intuitive stock rocketed higher, despite the dot-com crash. A similar growth trajectory from today’s levels could turn modest investments into fortunes. Intuitive also routinely beats estimates, and analysts forecast 19% earnings per share growth in 2023 and 15.5% growth in 2024.

Still, new competitors loom as threats. But Intuitive’s first-mover advantage is significant, and it continues advancing innovative products like its Ion system. Therefore, I believe Intuitive Surgical remains a long-term winner capable of generating tremendous wealth, albeit likely requiring patience. This AI pick seems poised to handsomely reward those with long time horizons.

MercadoLibre (MELI)

Bard “MercadoLibre (NASDAQ:MELI): MercadoLibre is the leading e-commerce platform in Latin America, offering a comprehensive marketplace, a digital payments platform, and a logistics network. The company’s AI-driven algorithms personalize the shopping experience, optimize logistics, and prevent fraud. As e-commerce penetration continues to expand in Latin America, MercadoLibre is set to capture a significant share of the growing market.”

MercadoLibre is definitely on my radar, given its potential to become a prominent fintech player in an underserved region. And while Latin American markets have proven themselves to be very unstable, MercadoLibre boasts diversification across a range of markets, providing relative stability.

In my view, MercadoLibre can deliver truly life-changing returns over the coming decades as e-commerce growth resumes and digital payments displace cash. To illustrate its potential, analysts expect MercadoLibre’s $13.8 billion in 2023 revenue to reach $74.6 billion by 2032. With margin expansion, profits are expected to explode higher.

Admittedly, risks exist, such as currency fluctuations and competition from foreign firms entering Latin America. But MercadoLibre’s first-mover advantage is substantial. Its brand recognition should help cement dominance as digital shopping and fintech adoption accelerates across the region.

On the date of publication, Omor Ibne Ehsan did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.