Who will rule the world in 2030? Barclays identifies 10 global giants that dominate the AI market
These companies not only create smart products, but also provide platforms for other players
Barclays has selected 10 global stocks that it believes will be long-term winners despite the buzz around artificial intelligence. The bank believes these companies have unique strengths that will help them compete in a world where AI is becoming more prevalent.
These stocks include Amazon, Microsoft, Alphabet, Facebook, Alibaba, Tencent, Baidu, Shopify, Adobe, and Salesforce. Barclays notes that these companies are not only using AI to improve their products and services, but are also creating platforms for other developers and customers to use their AI solutions.
The bank also warns that AI is not a panacea for all business problems and that investors should be wary of companies that simply label themselves as AI with no real strategy or competitive edge. Barclays says AI is more of a tool for efficiency and innovation than an industry in its own right.
Barclays expects the AI market to grow from $156 billion in 2020 to $300 billion in 2025 and to $500 billion in 2030. The bank believes that AI will have a significant impact on sectors such as healthcare, education, finance, retail and manufacturing.