Artificial intelligence (AI) has taken Wall Street by storm in 2023, and it could be a key growth catalyst for some companies that have been struggling over the last year.

While OpenAI's ChatGPT has given us a glimpse of how useful generative AI applications can be, AI models are getting smarter all the time. Companies that are using this technology to improve their products are best positioned for growing demand.

Two of those struggling stocks over the past year are Upstart Holdings' (NASDAQ: UPST) and Spotify Technology (NYSE: SPOT). And both are perfectly positioned to benefit from this important new technology.

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Source Fool.com