While artificial intelligence (AI) has already transformed how many companies work, it is expected to make further advancements that rely on machine learning and deep learning, among other factors. So, we think it could be wise to bet on top AI stocks Intel (INTC), International Business Machines (NYSE:IBM), and Micron (MU), amid the fast-paced digital transformation. Read on.Artificial intelligence (AI) is expected to continue evolving and transforming the way businesses work. Many industries have already benefited from implementing AI in their business processes. For example, the introduction of virtual shopping assistants and chatbots has helped e-commerce companies offer a better experience to their customers. The continued evolution of AI and rising demand from almost all industries should drive the performances of companies operating in this space.
Investors’ interest in the AI stocks is evident in the Global X Robotics & Artificial Intelligence ETF’s (BOTZ) 5.3% gains over the past month, versus the SPDR S&P 500 Trust ETF’s (SPY) 3.5% returns. Due to consistent technological improvements and growing demand, the AI industry is expected to grow rapidly. Indeed, according to a ResearchAndMarkets report, the global AI market is expected to reach $171.02 billion in 2025, growing at a 35% CAGR.
Given this backdrop, we think it could be wise to bet on quality AI stocks Intel Corporation (NASDAQ:INTC), International Business Machines Corporation ( IBM ), and Micron Technology, Inc. (NASDAQ:MU). These companies have solid fundamentals and are expected to continue growing.