The artificial intelligence story is just heating up.
In fact, according to Jensen Huang, founder and CEO of NVIDIA, “AI will be mainstream in every application for every industry. Placing an AI supercomputer on the desks of every data scientist, AI researcher and student empowers them to engage and shape the age of AI.”
Even better, according to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030.
Plus, according to a new IBM study, “retail and consumer products companies surveyed say they plan to allocate an average of 3.32% of their revenue to AI—equivalent to $33.2 million annually for a $1 billion company,” as noted by an IBM press release.
“AI is no longer just a tool; it’s a strategic imperative,” said Dee Waddell, Global Industry Leader, Consumer, Travel & Transportation Industries at IBM, as also noted in the IBM press release. “Retail and consumer product companies are at a tipping point where embedding AI across their operations can help define not just productivity gains, but the future of brand relevance, engagement and trust.”
That being said, investors may want to jump into ETFs such as:
Artificial Intelligence & Technology ETF (AIQ)
With an expense ratio of 0.68%, the AIQ ETF invests in “companies that potentially stand to benefit from the further development and utilization of artificial intelligence (AI) technology in their products and services, as well as in companies that provide hardware facilitating the use of AI for the analysis of big data,” as noted by GlobalXETFs.com.
Some of its top holdings include Tesla, Broadcom, Nvidia, IBM, Amazon, Salesforce and Meta Platforms to name a few of its 84 holdings.
Sincerely,
Ian Cooper
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