A Once-in-a-Generation Investment Opportunity: 1 Artificial Intelligence (AI) Growth Stock to Buy Now and Hold Forever
There's been a great deal of buzz over the past year or so about the impact of artificial intelligence (AI). The consensus is that these recent advances are groundbreaking and will increase human productivity severalfold by automating a growing number of otherwise time-consuming tasks. As businesses scramble to profit from these advances, some fear the market has entered an AI bubble.
Arm Holdings (NASDAQ: ARM) CEO Rene Haas leaves no doubt about which camp he falls in. "AI is not in any way, shape, or form a hype cycle," he opined. "We believe that AI is the most profound opportunity in our lifetimes, and we're only at the beginning."
While it might seem like hyperbole, many in technology circles are adopting that view. Estimates run the gamut, but the potential economic impact could be immense. Generative AI is estimated to be worth between $2.6 trillion and $4.4 trillion annually, according to global management consulting firm McKinsey & Company. Companies on the bleeding edge of this secular tailwind could end up reaping a veritable windfall.
Source Fool.com
