Information technology firms should benefit as the adoption of artificial intelligence increases.The analysts shared five IT stocks uniquely positioned to become key beneficiaries of AI's rise.
For instance, another subset of technology firms that could capitalize on the rise of automation enabled by AI, especially in the near term, includes information technology services vendors. They continued:"Therefore, irrespective of the pace of AI advancements and eventual scope for cost and complexity reductions, customers will continue to lean heavily on vendors who can provide informed advice and support."The analysts noted that in the short term, these benefits are likely to be smaller in impact and limited to early adopters and service vendors that have robust in-house talent, financial resources, and existing customer relationships.
In fact, it's more likely that AI will prove a long-term tailwind for IT firms by speeding up data services, and the industry as a whole should be able to successfully pivot with minimal disruptions, the team concluded.Even within the information technology industry, it's clear that not all firms are created equally.