Are you on the hunt for the best stocks to invest in for Artificial Intelligence (AI)? Like NVIDIA Corp (NASDAQ: NVDA)? Or Tesla Inc (NASDAQ: TSLA)? Or looking for some technology ETFs for AI exposure?
In this episode, Owen Rask explains how he’d invest in AI and why he’s not rushing to do it. Plus, Kate and Owen discuss the ways AI might impact how they invest and some current use cases.
✅ Owen’s AI stocks & ETFs article: Owen’s article about 10 AI stocks & ETFs
What is Artificial Intelligence?
Here’s what IBM has to say about AI:
At its simplest form, artificial intelligence is a field, which combines computer science and robust datasets, to enable problem-solving. It also encompasses sub-fields of machine learning and deep learning, which are frequently mentioned in conjunction with artificial intelligence. These disciplines are comprised of AI algorithms which seek to create expert systems which make predictions or classifications based on input data.
Over the years, artificial intelligence has gone through many cycles of hype, but even to skeptics, the release of OpenAI’s ChatGPT seems to mark a turning point. The last time generative AI loomed this large, the breakthroughs were in computer vision, but now the leap forward is in natural language processing. And it’s not just language: Generative models can also learn the grammar of software code, molecules, natural images, and a variety of other data types.
Here’s what ChatGPT has to say about AI:
To explain what Artificial Intelligence (AI) is to listeners of the Australian Finance Podcast, you can use a simple and relatable approach. Here’s how you can do it:
Artificial Intelligence, often abbreviated as AI, is a rapidly evolving field of computer science that focuses on creating smart machines that can perform tasks typically requiring human intelligence. In essence, AI aims to make machines ‘think’ and ‘learn’ like humans, allowing them to understand, reason, and solve problems.
The key to AI’s success in finance is its ability to process and analyze data much faster and more comprehensively than humans. However, it’s essential to note that while AI can automate many tasks and improve decision-making, it’s not infallible, and human oversight is still crucial to ensure ethical and responsible use.