Wall Street is fired up about artificial intelligence (AI). Wedbush Securities analyst Dan Ives recently called it the fourth industrial revolution -- the other three were brought on by technologies like steam power, electricity, and the internet -- and he conservatively expects $1 trillion in incremental spending over the next decade.

Ark Invest is even more bullish. Analysts led by Cathie Wood believe AI could be more impactful than the internet, and the firm estimates AI software revenue could reach $14 trillion by 2030, up from $1 trillion in 2021. Former CEO Bill Gates expressed a similar conviction, saying that AI is the most transformative technology he has seen in decades.

All signs point to AI changing the course of human history. There will be ups and downs along the way, and naysayers will use the word "bubble," but some people said the same thing about the internet following the dot-com fiasco in 2000. A decade from now, I believe investors will look back and see AI as a once-in-a-generation opportunity. The most prudent way to benefit is to build a basket of AI stocks today.

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Source Fool.com