Many people got their first glimpse of artificial intelligence in the movie 2001: A Space Odyssey. This movie was a treatise on the future of AI. The AI in this movie, HAL 9000, could talk to the crew, do very difficult mathematical computations near instantly, and manage the life support system all at the same time. This movie was all about how humans and technology will interact in the future.
Artificial intelligence is no longer the thing of movies, as financial expert Paul Mampilly points out. Tech firms all over the world, especially in the United States, are developing this technology that will control most devices in the not so distant future. Experts have said that once this technology starts really getting implemented it will lead to the Fourth Industrial Revolution.
Paul Mampilly says that there are a number of ways that investors can profit from artificial intelligence. A former highly successful hedge fund manager, he says that those who are early investors in the AI firms will have portfolios that will dramatically outpace what investing in the S&P 500 will offer. He says many different industries will have AI incorporated that will increase efficiency, safety, and competitiveness.
Medicine is one of the fields that will use AI extensively. Paul Mampilly says that companies are already using machine learning to interpret medical imagery such as scans, x-rays, and medical images. This will help doctors quickly diagnose a patient and implement a care plan.
The age of hiring managers having to plow through cover letters, resumes, and job applications will soon end. There is AI software being developed that can evaluate all of these documents, score each applicant, and present just the best ones to the hiring manager. At some point AI robots will even be able to conduct the interviews themselves as they will have speech recognition and be able to interpret verbal cues such as facial movements.
Paul Mampilly lives in Delray Beach, Florida, and works for Banyan Hill Publishing. He edits and writes Profits Unlimited where he provides his stock picks to his readers across the nation.