AI is looking to increase the profitability of companies in many industries. But the companies that are actually providing AI services are likely to benefit the most.
According to recent reports about the best shares to buy in 2023, Microsoft Corp represents a strong buying opportunity. The major tech company is already one of the biggest powerhouses in the world of business, but its grip is expected to strengthen over the next few years thanks to its investment in artificial intelligence.
Anyone looking for exposure to AI stocks should consider investing in Microsoft. It’s also worth considering the potential applications of AI technology over the next decade and figuring out ways to benefit from the technology’s growth.
Microsoft Expected to Lead the Way in AI Progression
Many of the world’s most influential tech companies are now fighting for supremacy in the battle of future technology, with AI seen as the most important area to focus on. Google was once the leader in AI development, but Microsoft’s recent investment in OpenAI has shifted the balance. Ownership over the leading generative AI tool — ChatGPT — puts Microsoft in a strong position to take advantage of future advances and benefit massively.
There are a few other stocks that are heavily involved with the booming AI sector to watch out for. Nvidia Corp is up there with the other top recommendations for shares in 2023. This is because the demand for its industry leading processing chips isn’t likely to slow down. Adobe is another big name that’s busy integrating AI, with various machine learning models adapting to work alongside some of the brand’s main services like Photoshop. It’s clear that the experts are expecting AI to blow up, which is why they are recommending buying shares in companies that are getting involved.
Which Industries Will Benefit Most From AI?
Investors can look beyond the major companies that are leading the way with AI and consider investment in sectors that are likely to take advantage of the technology. The gaming industry is one that is likely to integrate AI more over the next few years. Developers are already using AI assistance in creating realistic NPCs in open world games and offering procedurally generated levels in expansive titles.
AI will also help developers in their market research when trying to figure out which games will appeal most to players. This is helpful in the slot games market, as players are faced with a vast amount of choice in terms of genres. Games like Gravity Bonanza, Funky Buddha, and Badlands highlight the broadness of themes in the market. AI can help developers collect mass amounts of data on player behaviour and figure out what type of game they should release.
Outside of gaming, AI could be influential in other areas of the entertainment industry. It could collect data for television producers as well, enabling them to zone in on the most engaging stories and themes. Investors should research companies and see which ones are forward thinking with AI integration, as these could be set to boom before 2030.
While many businesses and industries are busy incorporating AI, Microsoft and other big players stand to gain the most. There is a lot to pay attention to, but investing in the right stocks could be fruitful over the next few years.