Select Page

The 3 Best AI Stocks For 2023
Published 9th March 2023
By Michael Dubois, Head of Corporate at VG Global Holdings 

ChatGPT is by far the  biggest topic in the tech world right now. The recently launched artificial intelligence (AI) chatbot can conduct nearly human-like conversations and performs language-based tasks – from writing academic papers to generating social media captions and helping students write better essays – and is already revolutionising numerous industries as the workforce landscape starts to evolve and change shape.

The investment world is now solely focused squarely on the potential power of AI in the very near- to long-term future, as it is obvious that there are numerous business applications for AI, ranging from uses in the healthcare industry with the early detection of disease in humans, to real-time data analytics that can streamline manufacturing processes. Many analysts are claiming that AI is the “next big thing” in technology, and the potential for high investment returns is huge.

There are various ways to position your portfolio to benefit from a continuing AI revolution – for example, you can invest in companies that build AI hardware, develop AI solutions or sell AI development tools, or you could invest in companies that use AI to make better products, improve their marketing or create a more efficient and streamlined, and more profitable, way to run the business.

Here are my top 3 picks for the year ahead.

Adobe (ADBE) 

Adobe makes software for content creation, marketing, data analytics, document management, and publishing, and its flagship product, Creative Cloud, is a suite of design software sold via subscription. The company announced numerous new AI and machine learning (ML) capabilities in its Experience Cloud product, a marketing and analytics suite, advancements which include predictive capabilities that help sales and marketing teams understand how the different facets of marketing campaigns affect customers’ buying decisions, allowing them to then use that information to optimize campaigns and their budgets.

Baidu (BIDU) 

Baidu is a Chinese tech company that operates the largest search engine in China, much like Google does in the rest of the world, and the company has been investing in AI for years. In early February, it announced that it would launch its own AI chatbot in March – the chatbot, known as ERNIE bot in English (Wenxin Yiyan in Chinese), uses a language model Baidu developed internally. Like Amazon and Google, Baidu also has a cloud computing unit that supports various AI capabilities.

IBM (IBM) 

IBM sells AI and ML services that help its customers make better decisions and more money, through its Watson products, a portfolio of AI solutions which includes AI applications that improve customer service while cutting costs, predict outcomes and automate workflow processes. Enterprise customers can also use IBM’s Watson Studio to build and scale proprietary AI applications.

This author does not hold any shares in any companies which are mentioned in this article.