Forget C3.ai, Buy This Magnificent Artificial Intelligence (AI) Stock Instead
This year began in stark contrast to its dubious predecessor. While the S&P 500 slumped 19% in 2022, it has gained 18% year to date and is now just 6% below its all-time high (as of this writing).
Arguably the biggest catalyst fueling the market ascent this year has been rapid advances in the field of artificial intelligence (AI), and more specifically the advent of generative AI. The ability of these advanced algorithms to create new content, summarize data, and automate tasks -- and the resulting productivity gains it promises -- has taken the world by storm. Furthermore, estimates regarding the economic impact are eye-catching, often amounting to trillions of dollars, there for the taking.
Investors have been enticed by the potential windfall wrought by AI, buying up shares of any company that throws its hat in the AI ring. One of the biggest beneficiaries of the trend has been C3.ai (NYSE: AI) -- which certainly wouldn't be easy to forget when it comes to AI -- particularly given its telltale ticker. Yet as intriguing as the opportunity is, investors might profit by looking at another AI stock that offers much more compelling potential.
Source Fool.com
