It's hard to find a tech company that isn't talking about what it's doing with AI. The level of adoption of Artificial Intelligence in different business industries is phenomenal.
The reason to invest in AI stocks is that the technology will soon be used by many industries all over the world.
It is estimated that self-driving cars will reduce the number of vehicle-crash related deaths significantly. According to the Zion Market Research, global driverless cars market was estimated at around $5.36B in 2017 and is expected to reach $26.58B by 2024, growing at a CAGR of 25.7% between 2018 and 2024. AI makes autonomous driving possible. NVIDIA utilize graphics processors to analyze the pictures and data captured by onboard sensors and cameras, allowing it to recognize and react to everything that's happening around it. Waymo uses AI to train its vehicles maneuvering, moving over for emergency vehicles and making space for cars that are parallel parking.
Voice assistants like Google Home, Amazon Echo, Cortana and Siri rely on natural language processing (NLP), which uses Artificial Intelligence. Technology is constantly improving and the voice assistant market will progress along with it.
According to research by Accenture: “more than half of healthcare organizations say that machine learning-enabled processes have helped to reduce costs to “service products after sales” by at least 50%. Many healthcare respondents (65%) say they have improved revenue by 10-20% by using machine learning-enabled processes to “understand markets, customers and capabilities.”