Had you invested in a dedicated Artificial Intelligence ETF one year ago, you could have made close to a 40% return. Investing in individual companies that trust in AI use cases could have been even more lucrative. Consider Netflix, which uses machine learning for content recommendation, or Amazon, which uses AI not only for product recommendations but also in its fulfillment centers, AWS and Echo: both more than doubled their market capitalization over the last 12 months, though admittedly driven by coronavirus. Irrespective of the pandemic, AI is a growth business – which is rightfully reflected in share prices – with spending on AI systems projected to grow annually by 28%, according to a report by IDC.
Not only established organizations have found AI to be beneficial. Many start-ups now tap into