The adoption of artificial intelligence (AI) is gathering steam across multiple industries, which is not surprising as this technology has the potential to raise productivity and contribute significantly to the global economy in the long run.

McKinsey estimates that generative AI could increase labor productivity at an annual rate of 0.1% to 0.6% through 2040. PwC, on the other hand, is expecting AI to contribute $15.7 trillion to the global economy by 2030, of which $6.6 trillion will be on account of productivity gains. Investors would therefore do well to invest in companies that are leveraging AI to enhance productivity.

(NASDAQ: MSFT) is one such company that is using AI to boost productivity, so it may be a good idea to buy it right now and hold it for a long, long time. Let's take a closer look at the reasons why.

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Source Fool.com