AI (Artificial Intelligence) is the capability of a machine to mimic intelligent human behavior. It is a significant growth trend. Technology is used to smarten up countless things, small and large. Thus, it can smarten from homes and cities to computers and cars to healthcare diagnostic and factory equipment tools.
IDC, one research firm, is estimating that spending on artificial intelligence systems will soar from $37.5 billion in 2019 to $97.9 billion in 2023. Thus, it is more than a 28% compound growth of the annual rate. Moreover, some sources predict even faster growth.
Thus, it is wise for investors wanting some exposure to this area of high growth. We can now say the top artificial intelligence-related stocks worth investing in. You can invest in those stocks as little as $1,000 (or less). It is because some online brokerages can allow by fractional shares of stock.
The most obvious way to consumers in which Amazon uses Artificial Intelligence is probably Alexa. Moreover, they are doing it since the voice-activated assistant is the brains of the company’s popular Echo smart home speakers. Furthermore, in this space, Amazon was the first mover. It beat technology titans like Apple and Alphabet to the punch.
Nevertheless, the market leader is still the Echo. That is very important because smart speakers are acting as a hub of a smart home. Thus, Amazon can leverage its market leadership for selling consumers other quick home services and products.
Nevertheless, from a current standpoint, Amazon’s most important use of artificial intelligence is making the technology available to its Amazon Web Services customers. The market leader in the public cloud space, AWS, accounted for just over 11% of Amazon’s total revenue in its most recently reported quarter (2019’s fourth quarter). Nevertheless, it is the outsize 67% of its operating profits.
Moreover, Amazon is also using artificial intelligence in its e-commerce business.
- Trading Instrument