Artificial intelligence (AI) has been the talk of the town.
The momentous launch of OpenAI’s ChatGPT backed by Microsoft (NASDAQ: MSFT) in November last year has undoubtedly sparked the coming of a golden age that is being touted as the “AI Spring”.
Following that, we witnessed a flurry of activity in this space with accelerated deployment by competitors and record-breaking adoption rates by consumers.
Some of the largest banks such as Morgan Stanley (NYSE: MS) view AI as an investment megatrend.
Unfortunately, pure play AI stocks have fared somewhat poorly.
As of April 2023, C3.ai (NASDAQ: AI), BigBear.ai Holdings (NYSE: BBAI), and SoundHound AI (NASDAQ: SOUN) have lost anywhere between 65% to 80% since inception.
If the prospect of holding onto these names haunts you, rest assured as there are other methods that investors can tap on to participate in the burgeoning growth of AI.
Here are three companies that you can consider if you remain convinced that AI is the future....