4 Mutual Funds To Ride The AI Boom

Artificial intelligence (AI) has gained immense popularity, thanks to its many crucial implementations in everything from daily life applications to complex technological problems. The industry has grown remarkably fast, with notable advancements in forms of AI such as machine learning, big data, and robotics.

Unrestrained Growth in AI to Push Tech

Several sectors in the United States have taken initiatives to implement AI applications for faster and intelligent processing, which not only simplify their tasks but also save time. Secondly, the ability of machine learning algorithms to study trends and data and improve themselves with least human intervention is the need of the hour. This is a major reason behind AI’s widespread application.

In addition, AI applications make it easier to track tasks in a world which is constantly changing and undergoing technological advancements. To be more specific, companies now have complex business models to assist in daily operations. They also have intricate manufacturing processes, packaging systems and supply chains that are difficult to track at human speed.

In fact, AI’s widespread implementations put it up for further growth. According to a Markets and Markets report, the AI market is expected to grow at a cumulative annual growth rate of 36.6% during the forecast period of 2018-2025. The market segment is expected to grow to $190.6 billion by 2025.

Let us thus take a look at a couple of mutual funds that invest in companies that are contributing significantly in the field of AI.

Our Choices

We have selected four mutual funds that could stand to gain from advancement in AI. All these funds carry a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy). Moreover, these funds have encouraging year-to-date returns. Additionally, the minimum initial investment is less than $5000. We expect these funds to outperform their peers in the future.

Now we come to the most vital question: why should investors consider mutual funds? Reduced transaction costs and diversification of portfolio without several commission charges that are associated with stock purchases are primarily why one should be parking money in mutual funds.

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Disclosure: Zacks.com contains statements and statistics that have been obtained from sources believed to be reliable but are not guaranteed as to accuracy or completeness. References to any specific ...

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