We’re probably all familiar by now with the Gartner Hype Cycle which says that a technology will go through a phase of unrealistic expectations (hype) before it goes crashing down, and then re-emerges sans hype so that everyone can profit from it. It seems like we’re starting to flirt with peak hype for artificial intelligence (AI) based on irresponsible articles lately talking about how to profit from the AI boom. Then there’s the fact that we now have somewhere in the range of 3,000 AI startups that have been funded by eager venture capitalists. As retail investors, we want to know what this means for our portfolio. Maybe the only picks and shovels pure-play stock for AI has been shares of NVIDIA which have gone completely apeisht (that’s a technical term that finance people use behind closed doors). There are other stocks trying to ride these coattails, and we remain convinced that there aren’t many pure-play AI stocks out there for retail investors. What we are certain of is that every single company out there will now be looking to “use AI” so they don’t get left behind.
There are going to be generally two types of companies that are using AI:
Type 1 – Those who have a core business already and will use AI to create efficiencies
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