In the last decade, artificial intelligence (AI) has gradually crept into every business globally while boosting productivity, sales, personalized customer service, product innovation, and operating efficiency. With AI applications found in virtually every industry today, it has made the market highly profitable for investors. According to Fortune Business Insights, the global AI market size was valued at $27.23 billion in 2019 and is projected to reach $226.92 billion in 2027, exhibiting a CAGR of 33.2% during the forecast period.
AI has not only gained popularity among technology enthusiasts, but it is also catching the attention of a lot of investors around the world. Venture investors looking to capitalize on the growth and adoption of AI-enabled technologies must take a long-term approach as AI has been declared to be the catalyst for the Fourth Industrial Revolution. You may be ready to go all-in on AI, or you may choose a more gradual path. Doing nothing, however, has become increasingly risky in an investment landscape that is advancing speedily.
In this article, we will attempt to look at authentic reasons why you should look into AI investments in today’s fast-changing economy.
AI is projected to be the biggest commercial opportunity
According to a report by PwC, the global GDP will be 14% higher in 2030 as a result of artificial intelligence – the equivalent of an additional $15.7 trillion. PwC predicts that AI will likely be the biggest commercial opportunity for investment firms in today’s fast-changing economy. This presents an opportunity for individual forward-looking investors, large and small investment companies alike, to level up their game in order to get a big share of the AI industry in the years to come.
AI will be indispensable in all sectors of the economy
Currently, there is a high level of reliance on AI by almost all sectors in the economy including manufacturing, finance, construction, education, e-commerce, healthcare, and medicine amongst others. AI is paving the road to driverless cars, It’s behind the software that tells salespeople which client prospect to call first and it’s the brains behind virtual assistants that can interpret voice commands and play songs or provide weather updates. Subsequently, over the next few years, even more sectors and businesses will be talking about how AI is transforming their industries, and how they’re tapping the technology to keep up with competitors. It is therefore crucial for business investors to look into having stakes in AI-centered companies or start investing in AI-enabled technologies.
AI is driving large profits for top companies
Big corporations such as Amazon, Nvidia, Microsoft, and Alphabet have over the years pursued artificial intelligence and incorporated it into their products. Jeff Bezos, the CEO of Amazon, revealed that AI is the major reason why the company has been successful in the e-commerce industry, making enormous profit. Bezos further disclosed that machine learning drives Amazon’s algorithms for demand forecasting, product search ranking, product and deals recommendations, merchandising placements, fraud detection, translations, and much more that increases profitability. Prudent investors should take advantage of these AI-incorporated firm who sits on the list of hottest AI stocks and buy at least one.
AI will be integral in our daily operational lives
On a daily basis, we use artificial intelligence without thinking about it anymore: Google search algorithms, Alexa and Siri which gives voice commands to assist in our daily lives, Netflix and Spotify to determine our taste in film and music. AI is already enabling more personalized medicine and treatment plans in healthcare. Facial, voice, and fingerprint recognition are becoming more commonplace as well. With AI at the helm of the Fourth Industrial Revolution, we are expected to see more of it being utilized in our everyday living. In the nearest future, there will be an increase with the daily adoption of AI which presents investment opportunities for business-oriented individuals and companies alike.
AI is powering the future of work
As a suite of technologies enabled by adaptive predictive power and exhibiting some degree of autonomous learning, AI is dramatically advancing humans’ ability to recognize patterns, anticipate future events, create good rules, make good decisions, and communicate with other people. When adopted, AI empowers firms to dramatically deliver new kinds of value and reshape operating models. AI basically offers significant development opportunities that many companies have already been quick to seize upon. Pioneering the future of work is one of the major benefits AI offers, investors that therefore neglect to leverage on AI in years ahead will likely fall far behind their equals. It is imperative in staying ahead in the investment world that forward-thinking business enthusiasts begin now to invest in artificial intelligence and its allied technologies.