It's been roughly a year since the latest developments in generative artificial intelligence (AI) burst onto the scene, captivating Main Street and Wall Street alike. These next-gen algorithms can do much more than their predecessors, dramatically increasing productivity by drafting original documents, summarizing data, writing and correcting computer code, and even creating original presentations from existing data.

co-founder and former CEO Bill Gates knows a thing or two about technology, and his views on AI are eye-opening: "AI is about to completely change how you use computers and upend the software industry," Gates noted recently. He goes on to say that over the next five years, generative AI "agents" will handle many day-to-day tasks, doing things that would have been unfathomable just a few years ago.

Conservative estimates peg the economic value of the generative AI market at more than $1 trillion, and some are many times that size. This could provide a windfall for the companies and shareholders positioned to benefit from the trend. One company that's long been at the cutting edge of AI research is Palantir Technologies (NYSE: PLTR). As the godfather of AI, the company represents a compelling addition to any AI portfolio.

Continue reading

Source Fool.com