|By definition, once-in-a-lifetime opportunities rarely come around. But when they do, it’s time to start paying attention. And right now, it’s time you start paying attention to artificial intelligence (AI).
You’ve probably heard of it before. Maybe you even have a vague idea of what the technology can do. Heck, I’m sure you’ve even read a few articles for yourself warning readers about how “scary” this technology is for the world and society.
AI isn’t scary. It’s new, yes, but it’s not scary. It’s going to push boundaries and greatly benefit the world.
You’ve probably even used the technology today to help you fulfill some of your daily tasks. Did you speak into your smartphone to ask it to send a text message or make a call? If so, you’re using the technology now!
Expanding on virtual assistants, companies like Google and Amazon have made devices to house these virtual assistants. Google has its Home product line, and Amazon has its Echo product line.
Both of these companies have been ramping up their product lines because virtual assistant technology is improving at a rapid pace, not to mention becoming a staple in every home. Homes are getting a lot smarter thanks to AI.
The devices we use and interact with on a daily basis are getting smarter through this groundbreaking technology. It’s no longer a distant or futuristic idea. We’re here. We’re experiencing the technology firsthand, and it’s only going to be more integrated into our daily lives.
Right now, banks are using the tech to detect fraud, machines that can identify images are helping doctors detect diseases in patients, police are using the tech to help them identify suspects from those grainy and hard-to-decipher images of suspects, and insurance companies are using AI to create policy quotes and assess claims. Those are just a few ways AI is benefiting our daily lives and helping other industries meet their goals and then some.
AI is Expanding Throughout Industries AND the World
The best part about this technology is that it’s not limited to one industry; instead, it’s slowly spreading throughout a variety of industries.
Bank of America is estimating that the AI market will yield $14 trillion to $33 trillion in annual wealth in the next 10 years.
And McKinsey & Company sees it generating a lot more wealth a whole lot sooner. The firm is saying the AI market could generate $50 trillion of value in the next seven years. Yes, that’s no exaggeration: seven years.
To fully understand that figure, the AI market is going to be 18 times bigger than the market for smartphones, tablets, and PCs… combined! We’re talking a huge impact. Humanity is going to be changed forever by AI technology and the devices that will follow.
AI is promising the world more personalized products and services that are cheap, fast, and free from human error.
Not only that, but it’s also going to save U.S. businesses $60 billion and the U.S. government $41 billion every single year. Generating profits while saving money is always an ideal situation for any business or government!
The Backbone of AI
We know AI is going to be huge. And we know it’s going to change humanity and the world forever. Which means this market is going to need a lot of support to ensure the technology is fluid and flawless.
That support will come from the chips that are involved with AI technology. These AI chips play an important role in providing fluidity and adaptability with the technology. The chips will be the backbone of AI. That’s why you should be paying attention to the companies that are focused on client-customized AI chips.
In order for this technology and those companies’ devices to work flawlessly, they’ll need a platform that can handle the technology. That’s why having an adaptive compute acceleration platform (ACAP) will be crucial for technologies like AI and 5G.
ACAP will be a crucial component for this new technological revolution.
Finding Your AI Opportunity
With a market that’s growing so rapidly, there are a lot of opportunities that will need to be evaluated, especially if you’re an investor who’s interested in reaping the rewards of this explosive tech and its expanding market.
Here at Wealth Daily, we want you to reap those rewards the best you can. Everyone is talking about artificial intelligence right now, and the investing opportunities that are emerging probably leave you wondering if you’ll be making the right decision when it comes to investing in AI.
To be perfectly honest, there might never be a right decision, but there are decisions you can feel confident in. Finding those little-known companies before the mainstream investment community does and finding those companies with long-term growth is the key.
A colleague of mine, Alex Koyfman, has discovered one of those little-known companies. Even better, he found a company that has a focus on the adaptive compute acceleration platform (ACAP) I briefly mentioned earlier.