The tech sector is filled with many promising secular growth stories, including driverless cars, automated factories, wearables, chatbots, and cloud services. However, one common theme links most of these next-gen markets together: artificial intelligence (AI).
Investors might associate AI services with intelligent robots, but the term generally refers to the ability to gather, process, analyze, and leverage large amounts of data to make informed decisions.
The global AI market could grow at a compound annual growth rate (CAGR) of 42.2% between 2020 and 2027, according to Grand View Research, as a growing number of industries deploy those services. Let’s take a closer look at the AI market, spot the best ways to profit from its expansion, and see why it’s the tech investing trend I’m the most excited about right now.