Bank of America says AI is the new electricity, names its top picks to play the breakout trend
Bank of America recently released a report on the potential of artificial intelligence (AI), stating it is the “new electricity” and is set to be the biggest investment trend of the decade. The report also named five companies with potential to benefit from the AI boom.
The report, titled “Artificial Intelligence: The New Electricity”, explained how AI is the “new electricity”, in the same way electricity spawned many industries 100 years ago. Bank of America pointed out that AI is already being used in various industries, such as healthcare, finance, autonomous vehicles, and robotics. The report also highlighted how AI will continue to expand its reach and become an even more integral part of the global economic landscape.
For investors looking to capitalize on the AI trend, Bank of America recommended five stocks to consider, including NVIDIA (NVDA), Amazon (AMZN), DocuSign (DOCU), Salesforce (CRM), and Microsoft (MSFT). Bank of America noted that these companies have the potential to benefit from the advancement of AI, as they all have a "deep commitment to AI."
In conclusion, Bank of America believes that AI is the new electricity and is set to be the biggest investment trend of the decade. For investors looking to capitalize on this trend, Bank of America has recommended five stocks to consider, including NVIDIA, Amazon, DocuSign, Salesforce, and Microsoft.