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This power goes well beyond fun wordplay. There are numerous business applications for AI, ranging from early detection of disease in humans to real-time data analytics that can streamline manufacturing processes.

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In 2022, Adobe announced new AI and machine learning (ML) capabilities in its Experience Cloud product, a marketing and analytics suite. These advancements include predictive capabilities that help sales and marketing teams understand how the different facets of marketing campaigns affect customers' buying decisions. They can use that information to optimize campaigns and their budgets.

Google parent Alphabet recently launched a test version of its own AI chatbot called Bard, which functions like ChatGPT. Ask it a question and Bard quickly accesses, compiles and summarizes online information to provide an answer.

Amazon delivers AI and ML services and infrastructure through Amazon Web Services (AWS). The e-commerce giant also uses AI in its own online store to make product recommendations. Alexa, the virtual assistant of Echo devices, is AI powered.

Baidu is a Chinese tech company that operates the largest search engine in China. In early February, Baidu announced it would launch its own AI chatbot in March. The chatbot, known as ERNIE bot in English and Wenxin Yiyan in Chinese, uses a language model Baidu developed internally.

C3 AI provides SaaS (software as a service) applications to develop, deploy and run enterprise-scale AI applications. Offerings include purpose-driven software suites for supply chain optimization and energy efficiency, and industry-specific solutions for financial services and oil and gas.

Notably, C3 has a partnership with Alphabet. Together, the two companies develop new AI applications using Google Cloud infrastructure and resources. All C3 AI applications are also available on Google Cloud.

Oracle provides cloud computing infrastructure, software and hardware, including the AI-capable Oracle Cloud Infrastructure. As noted, the company recently expanded its partnership with chipmaker Nvidia to expand the AI capabilities it offers to enterprise customers.

As of February, BOTZ holds 43 global stocks. All are positioned for gains as robotics and AI adoption rises. Sector exposure is primarily in technology, industry and healthcare. More than 40% of the holdings are U.S. companies, but there is also double-digit exposure to Japan and Switzerland. BOTZ has an expense ratio of 0.68%.

Wood's ARKQ invests in 30 to 50 companies that develop or support autonomous transportation, robotics and automation, 3D printing, energy storage and space exploration. U.S. companies make up almost 90% of the fund and Tesla is the top holding. The expense ratio is 0.75%.

Companies can use AI to find patterns across huge data sets. From those patterns, they can identify opportunities to improve customer experiences and outcomes, operate more efficiently, develop new products and services, and sell more existing products and services.

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Artificial intelligence stocks are rarer than you might think amid buzz over chatbot technology such as GPT-4. Many companies tout AI technology initiatives and machine learning. But there really are few public, pure-play AI stocks.

In general, look for AI stocks that use artificial intelligence to improve products or gain a strategic edge. Amid a surge in investor interest in artificial intelligence, be on guard against poor performing companies that tout themselves as plays on AI technology.

Chip maker Nvidia (NVDA) at its GTC conference announced a wide-ranging portfolio of AI products, including new graphics processing units, data center hardware, AI software models and AI as a service. NVDA stock belongs to the IBD Leaderboard..

In addition, OpenAI's ChatGPT is only one of many "generative AI" technologies that could roil a host of industries by creating text, images, video and computer programming code on their own. Generative AI technology already is finding applications in marketing, advertising, drug development, legal contracts, video gaming, customer support and digital art.

As software companies integrate generative AI tools into products, their customers will spend more on software, said a Goldman Sachs report. Generative AI will add an incremental $150 billion to the current global software market of $685 billion, the brokerage said.

Meanwhile, OpenAI on March 14 launched its next-generation chatbot technology. It's called GPT-4. The new language model is multi-modal. That means it accepts text, speech, images and video as inputs. IBD readers can check it out at OpenAI's website.

Meanwhile, Adobe (ADBE) on March 21 unveiled generative artificial intelligence services for creative professionals and marketers. They include Adobe Firefly, a new family of creative generative AI models focused initially on image generation and text effects.

"Companies who don't truly embrace generative will see their multiple compress by 50% over the next five years," RBC Capital report said in a recent note to clients. "We believe every technology company needs a strategy to truly embrace generative AI, otherwise they will be left behind by those that do."

The report went on to say: "Not only will these companies see market share losses over time, but they will also see multiple compression as investors lose confidence in the ability of those companies to be future-proof."

The generative AI wars are heating up in marketing. Salesforce (CRM) on March 7 rolled out Einstein GPT, which adds OpenAI's features across its software platform. Pilot technology will be available first on its Slack messaging tools. Salesforce has used predictive AI tools since 2016.

Bank of America, Morgan Stanley and Barclays tout chip maker Nvidia and Arista Networks (ANET) as top AI stocks. Internet data centers will need more computing power and network bandwidth to process AI workloads.

"We see ChatGPT and the surging AI use cases akin to the 2007 iPhone introduction that expanded the mobile landscape and use cases for consumers and businesses," said a Morgan Stanley report on AI stocks..

Prior to ChatGPT's launch in November, IDC predicted that the conversational AI market will grow at a 37% compound annual growth rate from $3.3 billion in 2021 to just over $16 billion in 2026. Generative AI is expected to impact cybersecurity.

"We see (generative) AI becoming 'table stakes' for most software companies," Evercore ISI analyst Mark Mahaney said in a report. "This generally favors the bigger companies with deeper pockets and access to more data."

Key to the rise of generative AI are improved natural language processing models that help computers understand the way that humans write and speak. OpenAI is part of a wave of NLP startups that includes AI21 Labs, Anthropic, Cohere and others. Anthropic has introduced a competitor to ChatGPT called "Claude."

All AI software needs computing power to find patterns and make inferences from large quantities of data. And the race is on to build AI chips for data centers, self-driving cars, robotics, smartphones, drones and other devices.

"Use of AI will be critical driver of all things Internet, including content relevance, ad performance, e-commerce conversion, marketplace efficiency and even customer service," BofA analyst Justin Post said in a recent note to clients.

Federal Trade Commission chair Lina Khan on March 27 said her agency would protect AI startups from big-tech companies aiming to block new entrants. At a antitrust conference, Khan said the FTC would ensure that startups can compete in the AI industry.

Cloud service providers are expected to hike investments in artificial intelligence technology. Nvidia beat Wall Street's estimates for its fiscal fourth quarter as data center chip sales rose 11% to $3.62 billion.

Some companies have been aggressive making AI acquisitions. IBM (IBM) has bought at least five artificial intelligence companies since mid-2020. They include Databand.ai, Turbonomic, ReaQta, MyInvenio and WDG Automation.

Alphabet recently acquired Alter for $100 million, an AI avatar startup that enables brands and creators to express virtual identities. The acquisition is aimed at helping Google ramp up its content offerings and compete with other platforms like TikTok.

The top artificial intelligence stocks to buy span chip makers, enterprise software companies and technology giants that utilize AI tools in many applications. Think of cloud computing giants Amazon.com (AMZN), Microsoft and Google.

Further, Amazon leverages AI in retail stores, noted a recent Monness, Crespi, Hardt and Co. report to clients. More than 30 Amazon Fresh U.S. stores, over 25 Amazon Go U.S. stores and two Whole Foods Market stores use Just Walk Out payment technology.

Venture capitalist Marc Andreessen once observed how "software is eating the world" by remaking industries through automation. In the same way, artificial intelligence is expected to modernize software.

Amid a shortage in software engineers, low-code programming tools are making it easier for business units to develop AI applications. DataRobot is part of a new wave of AI startups bringing low-code tools to market.

Meanwhile, Snowflake (SNOW) and startups such as Databricks aim to shake up the database market with lightning-fast analysis of "unstructured data" gathered from sensors. One example would be streaming video.

Still, corporate adoption of AI technologies is nascent. The majority of organizations are still experimenting with AI technology, said an Accenture (ACN) study. Only 12% are using AI tools at a maturity level that achieves a strong competitive advantage, according to Accenture. 041b061a72