Is artificial intelligence (AI) a civilization-changing discovery like fire or the wheel? Or, is it a here-today-gone-tomorrow fad like pet rocks, lava lamps and bitcoins? Goldman Sachs has a prediction. They say that the discovery of AI and its rapid integration into the worldwide information network is not a bubble, but is instead an epic long-lasting change to our planet. They argue that we are still in the early stages of a new technology cycle that will lead to further discoveries, technologies, and extraordinary economic performance in areas that are AI-related or impacted.
The AI sector has contributed most of the positive gains of the stock market, with about 20 AI-related companies bolstering the S&P 500, which is up 12% for the year. Without those stocks, the S&P 500 would be down at least 2% so far this year. Investors have made substantial investments in anticipation of AI growth because of significant projected annual growth rates in AI-related sales and services. However, there are hurdles to overcome, including volatility in stock prices, regulatory challenges, dangerous misuse of AI, reliance on obscure data, and a vast competitive field with many new faces. Not to mention a typically dismal stakeholder understanding of what AI is and how it functions. It is important for AI investors to research AI and individual companies, and to consider investment goals and risk tolerance.
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