RBC: Buy these 17 future AI winners as the technology begins to transform the world

by Samuel Pordengerg Mar 26, 2023 News
RBC: Buy these 17 future AI winners as the technology begins to transform the world

It's easy to forget that the technology isn't new when it's being talked about. The potential is as big as it appears, according to the bank.

In a recent note to clients, the firm called generative artificial intelligence a "capacity unlocked" that increases the capabilities of technology in general. The internet, software as a service and cloud computing were three of the major technological breakthrough before the emergence of artificial intelligence.

A group of analysts, including Matthew Hedberg, wrote thatrative artificial intelligence is a major advancement in the field of artificial intelligence. GAI has become a near-term reality that has the potential to upend a broad array of industries.

The group warns that companies that don't get on board quickly have a lot to lose.

Three broad categories of companies have the most to gain, according to the analysts, are cloud-oriented companies that incorporate artificial intelligence quickly and use it to enhance their advantages, niche companies that use it to build on their leadership positions, and mid-size software companies that can use artificial intelligence to

The analysts agree that Microsoft is in a strong competitive position and that the company has gotten a lot of attention. Despite some of its recent stumbles, they said it's too soon to give up on the company.

It's not just the tech giants that can make money from the advent of artificial intelligence.

"We believe GAI's widespread adoption could also lead to commoditization for smaller companies in particular, allowing the ecosystems to widen existing moats and accrue disproportionate value," wrote the analysts. Close followers of Microsoft have been investing in artificial intelligence for more than a decade.

17 stocks were chosen as the best plays on the artificial intelligence trend. The tickers and commentary about each company are provided by the analysts.