Want to ride the next wave of Al madness? Then don't overlook these 3 stocks
I asked ChatGPT how they would recommend investing in artificial intelligence, which is currently on the rise. After a series of circuitous answers, I arrived at 3 stock suggestions that have huge potential in this area. Which stocks are they?
Since ChatGPT only works with data that is kept until 2021, it was quite challenging to get any specific pick. However, I did get some basic insights and added some actual research on my part.
So this is ChatGPT's pick, which, while it can't recommend anything, has named promising candidates for future dominance in AI 👇.
1. Amazon $AMZN+0.4%
Amazon is a leader in natural language processing (NLP) and uses its AWS platform to provide a suite of NLP solutions, including Amazon Lex, Amazon Cope, and Amazon Transcribe.
Amazon uses artificial intelligence in many areas of its business 👇
Personalization: Amazon uses AI to personalize offers and product recommendations for individual customers.
Chatbots: Amazon has an extensive system of chatbots that help customers with product research and problem solving.
Supply chain optimization: Amazon uses AI to optimize its supply chain and improve efficiency.
Working with images on the web: Amazon uses AI to recognize and categorize product images on its platform.
Amazon uses industrial robots and handlers in its warehouses. One of the latest additions is the Sparrow robot, which is the first robotic system that can detect, pick and grab different individual products in warehouses. Computer vision is used for object recognition and the data is processed by artificial intelligence, so it can recognize and move up to millions of different items before they are packaged 👇
This is a very efficient method that can speed up the whole process considerably. But manufacturing processes aside, AI can also be found in a number of Amazon products (mostly home appliances).
2. Microsoft $MSFT+0.9%
Microsoft has a number of different NLP products, including Microsoft Cognitive Services and the Azure Machine Learning platform. Oh, and let's not forget the current ''star of the internet'' - ChatGPT.
Microsoft uses artificial intelligence in many of its products and services 👇
Speech Recognition: Microsoft uses AI to recognize speech and convert voice commands into text form.
Voice assistant: Microsoft has its own voice assistant, Cortana, which helps users with various tasks and questions.
Predictive Analytics: Microsoft uses AI to analyze data and predict future trends and customer needs.
Image recognition: Microsoft uses AI to recognize images and automatically describe their content.
Task automation: Microsoft uses AI to automate routine tasks and improve efficiency.
ChatGPT is garnering the most attention at the moment, garnering countless positive reviews from reviewers who can use the chatbot's services in a really wide range of industries to assign tasks or questions.
In addition, the latest reports show that Microsoft wants to integrate ChatGPT into the Bing search engine, which may attract customers to use this search engine and increase its competitiveness against its rival Google.
3. Alphabet $GOOGL-1.4%
Google has a number of NLP products, including Google Cloud Natural Language and Google Cloud Speech-to-Text.
Google uses artificial intelligence in many of its products and services 👇
Voice Assistant: Google has its own voice assistant, Google Assistant, which helps users with various tasks and questions.
Speech Recognition: Google uses AI to recognize speech and convert voice commands into text form.
Search: Google uses AI to improve its search algorithms and personalise search results for individual users.
Photos: Google uses AI to recognise images and automatically describe their content.
Task automation: Google uses AI to automate routine tasks and improve efficiency.
Does Google have an answer to ChatGPT and Microsoft's strategy? Of course. Google has Bard technology built on the LaMDA (Language Model for Dialogue Applications) language model. For now, all we know is that a limited team of users is testing it, but in a few weeks Bard will be available to everyone.
Leaving aside these 3 dominant players, ChatGPT continues to highlight the qualities of IBM and Apple.
- IBM offers a number of different NLP solutions, including Watson Natural Language Understanding and Watson Discovery.
- Apple also has a range of NLP solutions, including the Apple Machine Learning platform and the Natural Language Framework.
- What do you think about the choice of ChatGPT? 🤔
- Do you have any of these stocks in your portfolio?
Please note that this is not financial advice. Each investment must go through a thorough analysis.