Some investing trends come and go, resulting in a few winners and lots of potential losers. But other trends take hold and don't let go, making plenty of investors wealthy. One recent example of an investing trend with staying power that has yielded incredible results is the migration to cloud computing. Amazon's Amazon Web Services (AWS), Microsoft's Azure, and 's Google Cloud brought in a combined revenue of $64 billion for these three companies in just the last reported quarter.

Before the advent of the cloud, it was the internet that provided an enduring trend. An enduring trend that dominated much of the 20th century was the automobile. What all three of these trends have in common is their emphasis on efficiency and practicality. Cars have become more efficient and practical than most other forms of transportation. Making data and communications easily accessible online anywhere all the time topped things like encyclopedias, sending a letter, using a phone operator, buying a newspaper, etc. Connecting to the office remotely, eliminating on-premises servers, and analyzing reams of data carries on the neverending need to be more efficient and effective.

Artificial intelligence (AI) shares these characteristics and offers the latest example of an enduring trend and investors are obviously excited. But that doesn't mean that all AI stocks are good buys. Many won't generate the success that translates into life-changing wealth for investors. To increase your chances of success, diversified investing that focuses on quality companies is critical. Famed investor Peter Lynch summed it up well: "Know what you own and why you own it."

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Source Fool.com