What a difference a year makes for tech giant (NASDAQ: GOOGL)(NASDAQ: GOOG). Its stock experienced a decline in 2022, hitting a 52-week low of $83.34 last November, but it's executed an about-face in 2023, reaching a high of over $134 on Aug. 24. The stock's climb is thanks in part to Alphabet's advances in the artificial intelligence arena.

Alphabet CEO Sundar Pichai declared, "AI is the most profound technology we are working on today." To that end, this year the company introduced a form of artificial intelligence called generative AI, which is capable of creating new content on its own.

Alphabet now employs generative AI across many services, including its Google Cloud and Workspace business products, where generative AI helps customers compose emails and draft proposals.

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Source Fool.com