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| By Sean Brodrick |
I’ve written a couple of columns this week, explaining how AI could make you rich and how business owners are planning to use AI. But now let’s get personal …
What if I told you that AI could change your life — your personal experience — in amazing ways?
First things first, I also promised in an earlier column that I would talk about how estimates for the growth of the AI market are all over the place.
I told you that one forecaster, IDC, sees the AI market growing at a compound annual growth rate of 20.1%.
I’ve seen other estimates ranging from 18% to 24%.
Why don’t these forecasters agree?
Well, as the great economist Yogi Berra said, “It's tough to make predictions, especially about the future.”
The further you go out, the harder it gets. The longest-range forecast I’ve seen is from Precedence Research. It believes the global artificial intelligence market size will grow from $454 billion in 2022 to around $2.5 trillion by 2032.
That means a compound annual growth rate, or CAGR, of 19% and a QUADRUPLING of value over that time frame.
In the U.S. alone, the AI market size was $103.7 billion in 2022 and is estimated to reach around $594 billion by 2032.
This is a good guess, but we won’t know what the future is until we get there.
However, we do know some of the things that scientists using AI are working on now. These AI developments sound like science fiction, but they are going to change your life in many good ways.
Here are my top three …
AI Change No. 1: Talk to the Animals!
There’s an old saying that, “Heaven is a place where your dog can talk.” Well, get ready for heaven on Earth, because scientists are working on using AI to finally let us talk to animals.
Now, I love my dog, but I doubt she’d have much to say, besides begging me for more snacks or shouting “SQUIRREL!” But there are animals who might have deep thoughts: whales. And Scientific American reports:
“Groups such as the Project Cetacean Translation Initiative (CETI) are focusing on trying to understand a particular species, in this case the sperm whale.”
If they can figure out what whales are saying, it shouldn’t be too hard to figure out dolphins. I’ve swum with dolphins before. Imagine if we could understand what’s on their minds.
AI Change No. 2: Real-Life Health Potions
If you or your kids play online video games, you probably know what a “cure” potion is. Basically, it fixes whatever ails your game character. Well, AI is shifting home medicine into overdrive, delivering a cybernetic version of a cure potion.
AI-based systems are improving the accuracy and efficiency of diagnosis and treatment. There’s already an FDA-approved device that uses AI to detect diabetic retinopathy by analyzing images of a patient’s eye. AI can also detect a stroke.
Looking forward, AI will revolutionize healthcare, opening the door to a dramatic increase in self-diagnostics, the ability to predict diseases and personalized treatment.
What if AI could add 10 years of healthy life with a diet and healthcare regimen? Would you use it? Dang right, you would. Combine that with realistic, self-healing skin that Stanford University researchers are working on, and we might see septuagenarians on skateboards.
AI Change No. 3: Genius in a Box!
Neuroscientists are using AI to unlock new insights into the human brain. And it’s not too far a stretch to think AI could tailor learning to individuals, making the absorption of information easier … and also giving people the skills to better use that information.
In other words, AI will become part of college programs, raising student success rates and turning out smarter graduates. But AI models won’t be thinking about the students. Instead, students will now engage more deeply than they previously did.
You might be thinking: “I’m too old to go back to school.” Well, your kids or grandkids aren’t. We’ve already had “The Greatest Generation.” Maybe it’s time for “The Smartest Generation.”
How You Can Play It
I already gave you ideas for two funds to play the AI rally, which I strongly believe is part of a new, broader tech supercycle.
And I also believe the best way to play this is through individual stocks and ETFs, like we’re doing in Supercycle Investor.
In fact, my Supercycle Investor Members just banked 101% on an AI-leveraged option this week! I gave them a new AI-related stock pick as well. Find out more here.
But if you prefer ETFs because you’re willing to trade potential outperformance for relative safety, I have another idea for you: The Global X Robotics and Artificial Intelligence ETF (ROBO).
This fund has an expense ratio of 0.95% and a Weiss rating of “C.” And since it bottomed in November, it has been on a tear. Here’s a weekly chart …
Nothing goes in a straight line, and ROBO will pull back. When it does, that could be a great buying opportunity. AI is going to transform how we work and live. It could even transform your life … if you want. You might as well let it boost your bank account.
All the best and happy holidays,
Sean
