Bank of America has identified several stocks and exchange-traded funds poised to benefit from the growth in artificial intelligence. The Wall Street bank surveyed its fundamental equity team of 130 analysts, covering approximately 3,400 companies, to identify the companies that stand to gain from AI across various sectors. The bank believes the development of AI is the third major tech cycle over the past five decades. The earlier cycles are the growth of the internet and mobile phone devices.
Their research highlighted three ETFs offering exposure to the AI theme that are readily accessible to investors: The analysts suggest that although AI-powered chatbots, writing, research, and coding apps have captured user interest, the long-term — and more profitable — use case will likely appear when large corporations embed AI systems into their processes.
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