FINANCIAL EDUCATION FOR YOUNG PEOPLE đ¨âđđŠâđ
Here's what happened
Widespread user and investor interest in Artificial Intelligence (AI) exploded tail end of 2022 with the release of ChatGPT and this interest gained momentum in 2023.
Investors view ChatGPT as the tip of the AI iceberg and foresee hundreds of other life-changing AI use cases across just about everything!
The Bank of America predict AI shares are on the brink of an "iphone moment" and could boost the global economy by $15.7 trillion in seven years.
For more on AI and ChatGPT, here are "6 ways to use AI in 2023 (using ChatGPT)" by SamanthađŠ Read More Here
Adobe (ADBE)đ
Adobe makes software for content creation, marketing, data analytics, document management, and publishing.
In 2022, Adobe announced new AI and machine learning (ML) capabilities in its Experience Cloud product, a marketing and analytics suite. These advancements include predictive capabilities that help sales and marketing teams understand how the different facets of marketing campaigns affect customers' buying decisions. They can use that information to optimize campaigns and their budgets
Alphabet (GOOGL)đ
Google parent Alphabet recently launched a test version of its own AI chatbot called Bard, which functions like ChatGPT. Ask it a question and Bard quickly accesses, compiles and summarizes online information to provide an answer.
Some see this as the next evolution of search. Rather than querying a search engine to receive a selection of webpages to view, you get one answer that's both simple and complete.
Unfortunately for Alphabet, Bard botched its test launch. In a short demo video intended to showcase Bardâs power, the chatbot gave an incorrect answer. Clearly, Alphabet has some work to do on its technology
Amazon (AMZN)đ
Amazon delivers AI and ML services and infrastructure through Amazon Web Services (AWS). The e-commerce giant also uses AI in its own online store to make product recommendations. Alexa, the virtual assistant of Echo devices, is AI powered.
Baidu (BIDU)đ
Baidu is a Chinese tech company that operates the largest search engine in China. In early February, Baidu announced it would launch its own AI chatbot in March. The chatbot, known as ERNIE bot in English and Wenxin Yiyan in Chinese, uses a language model Baidu developed internally.
Baidu has been investing in AI for years. Like Amazon and Google, Baidu also has a cloud computing unit that supports various AI capabilities.
C3 AI (AI)đ
C3 AI provides SaaS (software as a service) applications to develop, deploy and run enterprise-scale AI applications. Offerings include purpose-driven software suites for supply chain optimization and energy efficiency, and industry-specific solutions for financial services and oil and gas.
Notably, C3 has a partnership with Alphabet. Together, the two companies develop new AI applications using Google Cloud infrastructure and resources. All C3 AI applications are also available on Google Cloud.
IBM (IBM)đ
IBM, through its Watson products, sells AI and ML services that help its customers make better decisions and more money. The portfolio of Watson AI solutions include AI applications that improve customer service while cutting costs, predict outcomes and automate workflow processes. Enterprise customers can alternatively use IBMâs Watson Studio to build and scale proprietary AI applications.
IBM has also made several AI acquisitions over the last several years, including Turbonomic, Instana and Databand.ai.
Micron Technology (MU)đ
Micron Technology makes high-performance memory and storage hardware that powers AI solutions. The chipmakerâs products are used in data centers and self-driving cars.
Micron strengthened its AI portfolio when it purchased startup FWDNXT in 2019. FWDNXT hardware and software solutions power deep learning solutions and neural networks.
Microsoft (MSFT)đ
Microsoft has been investing in OpenAI, the company that developed ChatGPT, since 2019. The partnership began with a $1 billion investment and the agreement that Microsoft exclusively would provide cloud computing services to the AI lab. In January 2023, Microsoft announced it would extend the OpenAI partnership into a âmultiyear, multibillion-dollar investment.â
Microsoft also has a stated goal to make AI technology universally accessible through its Azure cloud computing platform.
And, like Alphabet, Microsoft recently debuted an AI chatbot for its search engine Bing. Unfortunately, Bingâs chatbot also failed the accuracy test. As reported by Dmitri Brereton, the chatbot misstated financial information pulled from Gap and Lululemon quarterly reports.
Nvidia (NVDA)đ
Nvidia makes high-performance microchips that power AI software and services. In October Nvidia announced it would expand its long-running AI collaboration with Oracle. As part of the deal, Oracle uses Nvidiaâs full AI platformâchips, systems and softwareâin its Oracle Cloud Infrastructure, a competitor to Amazonâs AWS. The goal is to broaden access to AI capabilities for Oracleâs enterprise customers and encourage AI innovation.
In a news release Nvidia founder described rising business demand for AI platforms this way: âAccelerated computing and AI are key to tackling rising costs in every aspect of operating businesses. Enterprises are increasingly turning to cloud-first AI strategies that enable fast development and scalable deployment.â
Tesla (TSLA)đ
Amid the ChatGPT buzz, fund manager Cathie Wood says Tesla is the best AI stock out there. Wood made the argument for Tesla in an interview with Yahoo Finance in early February.
Wood believes the companies to benefit most from the AI revolution are those with massive proprietary data sets, domain expertise, plus AI know-how. Tesla ticks those boxes. The EV maker has the worldâs largest pool of driving data. That data, combined with AI modeling power, can be used to launch and win new industries. In this case, autonomous taxis are at the top of the list. (Note that Woodâs firm Ark Invest owns 4.6 million shares of Tesla, per SEC filings.)
Takeaway đ
âď¸Thereâs more than one way to position your portfolio to benefit from a continuing AI revolution.
âď¸You can invest in companies that build AI hardware, develop AI solutions or sell AI development tools.
âď¸Or, you can invest in companies that use AI to make better products, improve their marketing or create efficiencies.
Remember this is not investment advice nor investment recommendation. We are not regulated financial advisers, therefore, always do your own researchđ
Powered by the GenMoney team
Keep in touch with us and subscribe to our weekly newsletter đ
Comments