Many businesses to see AI benefits within medium term

The democratization of artificial intelligence or AI has created a major tech wave for consumers. AI promises to make some businesses more efficient and even help businesses generate more revenue. We surveyed BofA Global Research analysts across the globe and found that 94% of covered companies plan to use AI to become more efficient and generate revenue. Survey participants expect 75% of companies to see positive AI benefits within the next 3-5 years. Semis, software and data centers are likely to be near-term beneficiaries according to Alkesh Shah. Many of the components needed to build data centers are produced by Alex Virgo's industrial companies. Alec Stranahan thinks AI could reduce inefficiencies within Biotech and could cut the cost of drug development in half.

 

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