What a difference a year makes. While fears of an economic downturn triggered a dramatic sell-off in tech stocks in 2022, the artificial intelligence (AI) boom has reignited investor optimism in 2023. Countless tech companies' stocks have surged this year, with their gains primarily driven by their prospects in AI.

The launch of OpenAI's ChatGPT late last year highlighted how far the technology had come, with the potential to advance numerous industries, from consumer products to healthcare, manufacturing, education, and more. According to Grand View Research, the AI market hit $137 billion in 2022 and is projected to expand at a compound annual rate of 37% through 2030.

Even as many companies have pivoted their businesses to AI development this year, the sector still has much to offer new investors. As the proverb goes, "The best time to plant a tree was 20 years ago. The second-best time is now." It's not too late to profit substantially from this budding market, and there's no time like the present.

Continue reading

Source Fool.com