Artificial intelligence (AI) is already making big changes to the corporate landscape. Generative AI applications are capable of answering in plain language almost any query posed to them. They can also create photos, documents, and video content based on user-generated parameters and even write computer code. 

This latest version of the technology has real potential to drive the next productivity boom for businesses. Cathie Wood's investment firm Ark Invest estimates that generative AI could add roughly $200 trillion to the global economy by 2030 by making knowledge workers -- like lawyers, scientists, and software engineers -- more efficient.

But the big technology companies aren't the ones driving this revolution. Many of the major AI breakthroughs in 2023 were actually achieved by smaller start-ups. Hoping to benefit from this fact, tech giants are pouring billions of dollars into those up-and-comers to accelerate their progress and put their AI applications in front of millions of potential customers.

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Source Fool.com