The hoped-for benefits — and profits — springing from artificial intelligence triggered a powerful rally in the market, and Goldman Sachs believes several stocks could prove the leading players in the burgeoning technology. The Wall Street bank estimated that recent advances in AI could add $7 trillion to annual global gross domestic product over 10 years due to surging labor productivity.
Alphabet's Google unit recently announced it will bring AI features to its internet search engine to turn complex queries into simple answers by combining results from multiple sources. Microsoft is another red-hot AI bet as the company recently expanded a multiyear, multibillion-dollar investment in ChatGPT maker OpenAI, marking the third phase of their partnership.
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Source: Reuters - 🏆 2. / 97 Read more »