Artificial intelligence (AI) could transform the economy by completing tasks humans can't, and by making existing workers more productive. Goldman Sachs believes the technology will add $7 trillion to the global economy within the next decade, whereas Cathie Wood's Ark Investment Management places that figure at $200 trillion.

Investors are rushing to buy AI stocks like Nvidia, Microsoft, , and Amazon, all of which have soared over the past year.

But other AI stocks aren't faring so well. C3.ai stock more than doubled in 2023, but it remains 82% below its all-time high. Similarly, Upstart stock has plunged 93% from its best-ever level. Those cases prove that developing AI alone isn't enough -- companies need to build solid businesses.

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Source Fool.com