Bank of America is the latest firm to chime in about the AI revolution — and how investors can profit from it. The Wall Street giant predicts the global AI market will grow by 19% per year to be worth an astounding $900 billion by 2026, or double the market's size in 2022.There will be many winners from the coming AI boom, according to Bank of America.
But some industries will also get disrupted. Just as automation and robotics impacted blue-collar jobs, there's fear . BofA noted that jobs in media that are focused on creating text, images, video, or music could be most at risk.Bank of America analysts recently wrote that ChatGPT has led to the. In other words, although AI has been around for years, ChatGPT made it mainstream — similar to how the iPhone helped boost smartphone adoption.
Twenty companies will benefit most from the explosion of AI, according to a February 28 note from four BofA researchers led by Eric Lopez, head of EMEA equity research. Below are those names, all of which are buy-rated except for two that have a neutral rating: Adobe and Apple. Along with each company is its ticker, market capitalization in US dollars, price target in local currency, and commentary from the BofA analyst that covers it.
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