Artificial intelligence (AI) has become all the rage over the past year. Investors are constantly looking to identify the next company that could emerge as a leader in generative AI, and current market conditions show that they're willing to pay a premium.

While the upside of AI investments could be lucrative, there's still plenty of value in other areas of the capital markets. Investors should keep in mind that the Federal Reserve is working through an arduous battle with inflation. During this hazy macroeconomic period, I would suggest seeking out investments that may be less sensitive to a rising-interest-rate environment.

One such company that has been on my radar is AT (NYSE: T). The stock is currently trading near its lowest levels in 30 years. However, an analysis of the financial profile suggests that the company is doing a respectable job generating free cash flow and reducing its net debt. This dynamic has helped AT consistently pay a dividend, which currently yields a little over 7%.

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Source Fool.com