Artificial Intelligence (AI) Spending Could Soar 820% by 2030: 1 Surefire Index Fund to Buy Now, and 3 Index Funds to Avoid
Demand for artificial intelligence (AI) products is poised to skyrocket in the coming years. Grand View Research estimates that annual spending across AI hardware, software, and services will soar 820%, from $197 billion in 2023 to $1.8 trillion in 2030. That implies an annual growth of 37% over that time frame.
Investors can capitalize on that opportunity by purchasing individual AI stocks. But that strategy requires quite a bit of work. Before buying a stock, investors should thoroughly research the underlying business. Additionally, investors must keep tabs on all the companies they own over time to ensure their investment theses remain sensible.
Alternatively, investors can buy AI index funds. It's a strategy that requires much less work. Index funds are ready-made portfolios that spread capital across many different companies. While it simplifies the work, investors must still investigate any index funds they want to own to ensure their capital is spread across the right companies at a reasonable price.
Source Fool.com
