Artificial intelligence (AI) could have a greater impact on society and the economy than the internet or the smartphone. It's still early days, but the technology has already showcased its ability to answer almost any question posed by users, and it can also generate text, photos, videos, and computer code on demand.

Those capabilities could drive a productivity boom for businesses that could be worth a whopping $200 trillion to the global economy by 2030, according to Cathie Wood's Ark Investment Management.

Investors are incredibly excited about the potential of AI, and they have sent many stocks in the sector surging in 2023. Semiconductor giant Nvidia stock has rocketed 227% year-to-date, and small AI software company C3.ai has seen a 128% gain in its stock.

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Source Fool.com