One way to get to the riches is to follow the trend. Peter Lim, one of the richest men in Singapore, said that his secret to investing well is to invest in sectors that have good prospects. One high-growth sector that is currently staring us right in our faces is artificial intelligence (AI).
According to estimates from UBS, a Swiss bank, revenue from the AI industry is expected to balloon to US$12.5 billion from US$5 billion in 2015, representing a massive growth of 20% annually. In another statistic, PwC states that by 2030, AI will contribute up to US$15.7 trillion in global gross domestic product (GDP). No matter the data, we can see how huge AI is poised to become.
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So, what is AI, and more importantly, how can you partake in this growth sector? Learn about these and more in the string of articles that follow.
“Artificial intelligence (AI) is the capability of machines to imitate human intelligence. These can include learning, reasoning, and self-correction. For example, artificial intelligence can recognise speech, pictures and now AI is even being used in self-driving cars.”
“Machine learning is a study of algorithms and statistical models which computer systems use to perform tasks without being given explicit instructions. The AI system makes use of pattern recognition and inference to “learn” over time how to be more effective and efficient in carrying out its tasks.”
“Artificial Intelligence is taking centre stage like never before, and here’s what you need to know about the different types of AI.”
“The Monetary Authority of Singapore (MAS) and the Institute of Banking and Finance (IBF) had just released fresh findings recently on the impact of data analytics and automation on the future workforce, and the prognosis for humans is not looking good. According to the findings, in just the finance industry alone, the next three to five years may see a third of job roles performed by fewer workers, which would lead to reduced overall demand for workers for specific job roles.”
“There are several ways in which AI is making our lives easier and more convenient. These generally involve software and computer programmes which can “learn” over time to recognise human preferences, as well as increasing connectivity to our various electronic devices to enable better all-round communication.”
“These are certainly exciting days, with AI set to completely remodel the way we live. Investors who can take advantage and invest early in this technology could potentially be well-rewarded in the future.”
Motley Fool Singapore believes the Artificial Intelligence mega-trend is one investors can NOT afford to miss out on. We think it has the potential to be bigger than the Internet, with the AI industry set to be worth US$5.8 trillion per year to the global economy. Click here now to find out more about a collection of AI stocks that are taking the lead and how they could supercharge your investment returns.
The information provided is for general information purposes only and is not intended to be personalised investment or financial advice.