Published on 6 Sep 2022 on Insider Monkey via Yahoo Finance
12 Best AI Stocks To Buy Now
In this article, we discuss 12 best AI stocks to buy now. If you want to see more stocks in this selection, go directly to 5 Best AI Stocks To Buy Now.
In 2021, the global artificial intelligence market was valued at $328.34 billion. The market is expected to grow from $387.45 billion in 2022 to $1,394.30 billion by 2029, at a CAGR of 20.1% during the forecast period. Amid the COVID-19 pandemic, Fortune Business Insights predicted that demand for AI skyrocketed about 150% in 2020 compared to 2019.
Josh Pokrzywinski, the industrial research director at Morgan Stanley, released a report this summer called “The Deflation Enablers”, which highlights how corporations allocate capital expenditure amid a high interest rate period. The Morgan Stanley report suggests that big enterprises will invest in artificial intelligence, clean energy, robotics, software innovation, and clean commercial heating and air conditioning advancements that can rapidly lead to efficiency savings. The prices for these technologies are dropping swiftly, which implies that goods and services using these technologies will be notably cheaper over the next multiple years.