GOOGL - A Once-in-a-Generation Investment Opportunity: 1 Artificial Intelligence (AI) Growth Stock to Buy Now and Hold For a Decade
2024-05-19 05:05:00 ET
Artificial intelligence (AI) has created a lot of buzz since early last year. Even as the technology has been around since the 1950s, recent developments show that these algorithms have improved by an order of magnitude. Generative AI has shown its mettle for a wide and growing variety of tasks, including streamlining processes, creating original content, and increasing productivity, with a flood of new applications on the drawing board.
Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) CEO Sundar Pichai is emphatic that these algorithms will change virtually everything. "Over time, AI will be the biggest technological shift we see in our lifetimes. It's bigger than the shift from desktop computing to mobile, and it may be bigger than the internet itself."
The opportunity is enormous. The generative AI market is expected to be worth between $2.6 trillion and $4.4 trillion annually over the coming decade, according to global management consulting firm McKinsey & Company. Companies at the leading edge of this technological shift will be among the first to profit from this expected windfall, enriching investors along the way.
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A Once-in-a-Generation Investment Opportunity: 1 Artificial Intelligence (AI) Growth Stock to Buy Now and Hold For a Decade