What Is Artificial Intelligence? Who Uses AI?

AI uses computer algorithms to replicate the human ability to learn and make predictions. Remember, AI software needs computing power to find patterns and make inferences from large quantities of data.

The two most common types of AI tools are called “machine learning” and “deep learning networks.”

Tech titans like Nvidia, Microsoft, Apple and Alphabet certainly qualify as AI stocks.

Amazon has also thrown its virtual hat into the ring. Yet, the e-commerce and cloud giant finds itself playing catch-up in generative AI.

Other such artificial intelligence stocks to watch include Advanced Micro Devices (AMD), Accenture (ACN) and Salesforce (CRM) — just to name a few.

 

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As noted, Nvidia is one company that can lay claim to AI-driven growth. Internet and tech companies buy its processors for cloud computing. Nvidia’s AI chips also help guide some self-driving cars in early trials.

Startups are racing to build AI chips for data centers, robotics, smartphones, drones and other devices. The rising AI trend has certainly swept up tech giants like Apple, Alphabet, Microsoft and Facebook parent Meta Platforms (META). They are applying AI software to speech recognition, internet search, image classification and an ever-expanding array of applications. Amazon has already established an integral foothold in AI through cloud-computing services and voice-activated home digital assistants. Just ask Alexa.

Then there are tech companies embedding AI tools in their own products to make them better. Video streamer Netflix (NFLX) and payment processor PayPal (PYPL) fit that bill.

Customers of tech companies are expected to increase spending on AI to get productivity gains or a strategic edge on rivals. Applications span banks and finance, health care, energy, retail, agriculture and other sectors. Using an ETF for some exposure is always an option, and Global X Artificial Intelligence & Technology ETF (AIQ) is one of many to investigate.

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