Companies across industries are using artificial intelligence (AI). This got people thinking about what artificial intelligence means for the future of many professions. the alphabet (Google 1.16%) (GOOGL 1.11%)Google’s parent company is no stranger to artificial intelligence. The company uses artificial intelligence in all of its work – from improving search capabilities to better serving its advertising clients.
Recently, Alphabet CEO Sundar Pichai talked about how artificial intelligence is set to revolutionize the world of work. He even said that one industry in particular could be transformed by the technology. Surprisingly, Pichai says this may not lead to layoffs — but instead, more jobs.
Pichai predicted AI
Pichai said the edge In an interview that AI could make the legal profession better in certain ways and could lead to more people actually becoming lawyers. Today’s law firms are already using AI to help draft documents, verify contracts, and complete other tasks. The idea is that AI will not take away lawyers’ jobs. Instead, it will help them and their employees do certain things more quickly — and give them more time to focus on the more complex parts of the job.
“I’m willing to bet about 10 years from now, there will probably be more lawyers,” Pichai said in the interview.
Pichai said some of the concerns people have about AI today are very similar to the concerns they had years ago with the introduction of new technology such as computers or the Internet. Yes, these technologies may have hurt some jobs, but they have also created many new jobs and led to overall progress in the job market.
Pichai is doing his part to advance the use of artificial intelligence. He made it a focus at Alphabet. For example, the company uses it to help Google better understand the meaning of each written and voice search. Another example, this time in advertising: the AI tool predicts how much advertisers must spend to achieve their campaign goals.
So, the use of artificial intelligence does not necessarily mean the elimination of jobs. It’s about improving how we do it. This makes AI a great new technology to invest in today. Alphabet itself is a strong AI stock to buy — and investors will love the company for other reasons, too, like its giant market share in the search market. Google search has 92% of this market. It may continue to be used for artificial intelligence.
Investing in artificial intelligence
You can also invest in artificial intelligence by buying shares of the e-commerce giant Amazon (AMZN 1.85%). The company has used artificial intelligence for years — and that’s what helps Amazon recommend products you might like, for example. And last year, Amazon bought a company called Snackable.AI. Amazon intends to use the company’s machine learning tools to enhance its broadcast and podcast capabilities.
But AI is not limited to tech companies. You’ll find companies in the healthcare field turning their attention to the region as well. vaccine maker Moderna (mRNA 0.37%) Use AI to help him develop a vaccine for the coronavirus – and use it to make research and development more efficient. Moderna recently signed a deal with Universal Business Machines To use the company’s AI platform in the drug development process. And Medtronic Artificial intelligence is used in many ways, such as predicting the outcome of spine surgery.
This means that there are a lot of stocks today that offer opportunities for you to invest in AI. Therefore, this technology may change jobs – says Pichai – and may also open the door to new investment possibilities.
Susan Fry, an executive director at Alphabet, is on the board of directors of The Motley Fool. John Mackey, former CEO of Whole Foods Market, an Amazon company, is on the board of directors of The Motley Fool’s. Adria Cimino holds positions at Amazon.com. The Motley Fool has and recommends positions at Alphabet and Amazon.com. The Motley Fool recommends our model. The Motley Fool has a disclosure policy.
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