3 Mutual Funds Set To Gain From AI's Accelerated Adoption

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Since the pandemic, artificial intelligence (AI) adoption has boomed exponentially, from marketing to financial services, transportation and logistics, media, retail, manufacturing and beyond. In fact, due to the drastic transition from man to machine that happened last year, several AI trends are here to stay and pick up pace. Per the analytics insight’s Global Artificial Intelligence Market 2020-2025 report, the global AI market is expected to grow to $252 billion by 2023 from $29 billion in 2019, at a CAGR of 42.5%.

The adoption of AI is inevitable. And why not? Recent developments in the space have given us new ways to address old problems with far-reaching consequences. Growth opportunities for AI have been witnessed in the fields of drug discovery, content generation, security & surveillance, and more. For instance, machine-learning model can now accomplish vaccine design cycles in a matter of seconds and minutes, which took months or even years in the past. Notably, AI-assisted method predicted around 26 potential vaccines that would work against the coronavirus. AI could make accurate predictions with more than 700,000 different proteins in the dataset provided for vaccine hunt.

In the field of marketing and sales, according to a study by Salesforce, 70% of high-performance marketing teams have a fully defined AI strategy compared to 35% of their under-performing counterpart. The teams claim that new AI and machine learning skills provide improved social marketing performance and greater precision with marketing analytics. In fact, AI can help marketing professionals and agencies to create advertisement that include digital banners, social media posts and digital out-of-home advertisements, to impact or grab attention of the target audience.

In the first week of March, Yum Brands announced that it has bought Kvantum, a company that uses AI for consumer insights and marketing performance analytics. This will help the food giant to optimize its marketing spending, giving Yum Brands a leg up on fast-food rivals.

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