When we look back years from now, 2023 will likely be seen as the year artificial intelligence (AI) came of age. Early this year, ChatGPT quickly set the record for fastest growing consumer application in history, attracting 100 million users within two months of its debut. The next-generation chatbot, powered by generative AI, attracted an estimated 1.4 billion visits over the past month alone, according to Similarweb. 

Excitement regarding the potential productivity enhancements and vast number of use cases for generative AI has helped propel the market higher this year. The tech-heavy Nasdaq Composite is up roughly 30% thus far in 2023, causing some to wonder if the stock market has simply risen too far, too fast.

One Wall Street veteran believes there's still much more to come and that tech stocks will "rip higher" heading into 2024, led by the next level of AI adoption. 

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Source Fool.com