Move Over, Artificial Intelligence (AI) -- Businesses Are on Pace to Spend More Than $10 Trillion on This Trend Over the Next Decade
There's a spending trend that's even hotter than AI, but it has its limitations.
For the better part of two years, the stock market has been in an undeniable uptrend, and investors haven't had to dig too deeply to uncover the catalysts behind this decisive move higher.
A confluence of factors, including a resilient U.S. economy, a reduction in the prevailing rate of inflation (compared to a peak of more than 9%), and better-than-expected corporate earnings have lifted the Dow Jones Industrial Average, S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite to numerous record-closing highs.
But among this laundry list of catalysts, none has shone brighter than the rise of artificial intelligence (AI). With AI, software and systems have the capacity to reason and act on their own, and can become more efficient at their assigned tasks, as well as learn new skills, over time.
