From banks to beauty: Fund manager says AI is giving these companies 'phenomenal' uplift

Artificial intelligence has taken the world by storm, with Big Tech players Amazon , Nvidia , Meta and Microsoft among investors' favorites to play the theme. Liontrust Asset Management's Clare Pleydell-Bouverie is looking beyond the headline-makers, however, to other companies set to gain from AI adoption. She said AI is set to remove "a lot of waste out of people's jobs," and bring about a "phenomenal productivity uplift.

The bank is now developing a ChatGPT-like AI-powered software service called IndexGPT to select and tailor securities according to customers' needs. JPMorgan shares are up around 15% year-to-date and almost 40% over the last 12 months. According to FactSet data, of 28 analysts covering the stock, 20 give it a buy or overweight rating. The average price target on the stock is $213.09, giving it around 9% potential upside.

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