Artificial intelligence (also known as AI) has dominated headlines recently, and it seems that everyone and their brother is trying to get a piece of the lucrative pie.
From your car’s built-in GPS to the “art bots” that permeate social media, AI is infiltrating our lives at a break-neck pace.
For most of us, AI is both mysterious and terrifying. We aren’t sure how AI might change our world. Will it be for the better? Or will we all end up like the “human batteries” that power society in 1999’s The Matrix.
The unknown scares the heck out of us – that’s why so many folks, despite the compounding evidence of how beneficial and profitable AI can be, are hesitant to embrace this new technology.
But this is simply the way innovation goes; we’re all a bit fearful of the changes that will come… until they become an integral part of our lives.
I told a similar story in early January to my Investment Report readers…
At the start of the 1900s, the motorcar was little more than a curiosity. In 1903, U.K. MP John Douglas-Scott-Montagu expressed the accepted wisdom of the era when he declared, “I do not believe the introduction of motorcars will ever affect the riding of horses.”
Obviously, that comment was laughably misguided…
In 1905, less than 100,000 Americans owned an automobile. But just 15 years later, 10 million Americans owned one.
That’s a 9,900% increase!
And a century later, cars are an inarguable necessity.
So, let me tell you a little bit about AI… and show you how to invest in it.
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The Birth of a Megatrend
Artificial intelligence is not a new concept.
While it sounds deeply futuristic, the initial stirrings of AI arose in the years following the second world war. The period was marked “by the conjunction of technological developments… and the desire to understand how to bring together the functioning of machines and organic beings,” as stated by the Council of Europe’s History of Artificial Intelligence.
However, the term “artificial intelligence” was not coined until 1955 in a proposal by several Ivy League elites and employees of IBM and Bell Telephone Laboratories. (You can read a copy of the actual proposal here.)
The goal of AI, at its core, is to enhance knowledge – humans can only “go” for so long before they need a break.
But AI isn’t subject to the same vulnerabilities that humans have. No worries about family, a social life, sleeping enough, eating well, balancing hobbies, keeping up with the bills…
The possibilities of the pursuit of knowledge are endless.
AI’s evolution can be broken down into three “phases,” as illustrated by SAS, an analytics and AI company…
- 1950s-1970s: Neural Networks
- 1980s-2010s: Machine Learning
- Present Day: Deep Learning
We’re well into the third phase, which is why you’ve likely been bombarded by headlines, pop-up ads, and video recommendations about it.
Beyond the developmental implications of better, faster, smarter AI… this is also the time to start investing in it.
Because as we march further into this new era, even the companies you’d least expect will participate in this massive, life-changing trend.
A Brave, New World
Now, the thing with AI is… it is, in essence, a concept. You can’t just pick up an “AI” at the store on your way home from work.
Instead, AI is a category of technology. And this broad category can be applied to a wide variety of uses.
One of those uses is called “generative AI” because it generates new outputs, based on the data it processes.
ChatGPT is a new generative AI product that burst into the public awareness four months ago and has become an instant sensation.
ChatGPT can answer questions, write poems, tell jokes…even write book reports or advertising jingles.
As such, ChatGPT signifies a profound change in the direction of AI.
Before ChatGPT’s debut in late 2022, several market analysts reported…
- That AI could a $13 trillion market by 2030…
- The AI market is on track to hit $15.7 trillion…
- And that AI could triple the value of the entire economy in the next two years.
But I believe that ChatGPT has greatly accelerated that timeline.
That only means one thing: Now is the time to act.
So, my colleague Luke Lango and I combined our research and zeroed in on our top stocks to buy for the next phase of AI’s development.
If you don’t know Luke, he’s one of InvestorPlace’s Senior Investment Analysts, who, like me, centers on megatrends that he sees changing the investing world for years to come.
And we both agree that this next phase of AI is one of the biggest and most profitable we’ve ever seen.
Check out what we’ve found here – and get our top picks for free.
Regards,
Eric
P.S. Along with making the right moves in investing in AI, you also have to avoid the wrong moves. And, as fate would have it, the wrong moves are far easier to make. Make sure you’re not putting yourself on a path to losing money. Details here.
