Too busy to plan your next business trip? Imagine this scenario: You set a date and destination in your digital calendar and then a bot powered by artificial intelligence (AI) does the rest. It searches for the cheapest flight that complies with your employer's work travel policies, picks your preferred aisle or window seat, pays for the ticket, and adds it to your calendar.
Science fiction? This reality may not be too far in the future.
Given the vast potential of AI, it's no surprise the market has sought to sniff out early winners and losers. Many technology stocks have soared since ChatGPT captured the public's imagination earlier this year.
We believe this is the start of the next megacycle for the technology sector.
The chart below shows that the global AI market is projected to reach nearly US$2 trillion by 2030.
Past results are not a guarantee of future results. The value of investments and income from them can go down as well as up and you may lose some or all of your initial investment. This information is not intended to provide investment, tax or other advice, or to be a solicitation to buy or sell any securities.
Statements attributed to an individual represent the opinions of that individual as of the date published and do not necessarily reflect the opinions of Capital Group or its affiliates. All information is as at the date indicated unless otherwise stated. Some information may have been obtained from third parties, and as such the reliability of that information is not guaranteed.