AI technology is increasingly impacting every modern industry – including finance, national security, health care, criminal justice and transportation. Media attention may focus on self-driving cars or chess-playing computers but AI’s impact extends far beyond them. AI is now having an effect on finance, national security, healthcare, criminal justice and transportation services among others.
Value investors rely on emotional discipline, critical analysis and long-term patience in their search for companies with adequate business plans and management teams.
1. Investing in Artificial Intelligence
Artificial intelligence has quickly become a hot investment theme, yet investors must tread cautiously when investing in it as this relatively new technology still undergoes development and could experience boom-bust cycles.
Experienced investors can gain exposure to AI by investing in mutual or exchange-traded funds that offer exposure across all aspects of AI – including algorithms and software, processing power, data sources and business uses.
Investors should also look at large-cap companies already employing AI technologies, like Alphabet’s parent, Amazon, and Tesla. Alphabet uses it for search, while Amazon uses AI for product recommendations.
SmartAsset’s free tool matches you with advisors in your area who can offer customized investment advice based on your risk tolerance and goals. Click here to get started – Daria Uhlig and John Csiszar from SmartAsset wrote this article together.
2. Investing in Machine Learning
Artificial intelligence and machine learning have pervaded numerous industries. Colleges use this tech to screen applicants for admission while e-commerce platforms suggest products – it is here to stay!
But how can investors leverage this new technology? Investing in companies incorporating artificial intelligence as part of their core business models, such as electric car makers that employ AI for self-driving cars; semiconductor design and software firms with machine learning research divisions; cloud computing technology providers who incorporate AI solutions; as well as cybersecurity tools using AI to detect threats is the solution.
AI can also help investors analyze and interpret historical market data to predict future returns and automatically execute trades. Investors looking to take advantage of this can invest with AI-backed robo advisors such as Q.ai which offer risk-adjusted portfolios and one-of-a-kind Investment Kits; or with companies developing AI technologies like OpenAI’s ChatGPT or Google Bard AI.
3. Investing in Deep Learning
Artificial Intelligence can help companies automate processes more effectively, improve customer experiences and drive sales growth – yet few organizations have adopted AI widely as its implementation requires extensive computational power and requires experts who are rarer still.
Companies looking to implement advanced AI need specialized computers and data storage, and one of the leading suppliers of high-end graphics processing units essential to computer vision and deep learning is NVIDIA Corporation (NASDAQ:NVDA). Their technology is behind autonomous cars being able to recognize stop signs or distinguish pedestrians from lampposts or signs; medical imaging applications; voice recognition capability on consumer devices like smartphones or hands-free speakers.
Generative pre-trained transformers from this company enable companies to fine-tune models for specific tasks with reduced cost, expertise and time compared to traditional methods. Such models may help identify cancer cells in MRIs or add color to black and white images or videos.
4. Investing in Deep Learning Companies
Artificial intelligence has seen widespread adoption across several industries, from medicine and e-commerce to finance and manufacturing. AI technology is helping improve diagnostics, speed scientific research and provide better customer service – it even enables companies like Amazon to develop AI assistants, personalize merchandise and offer tailored recommendations!
As such, it is wise to invest in companies with both the technology and distribution channels necessary to capitalize on this growing trend. IBM (IBM) is one such firm, having already created an AI platform alongside several partners, while currently developing innovative AI solutions.
ChatGPT, its latest innovation, uses AI to assist individuals with managing their investments. By analyzing data from multiple sources and providing recommendations based on that information, ChatGPT also can monitor stocks and identify trends that would otherwise be difficult for humans to detect – another testament to how AI is revolutionizing investment world.