Artificial Intelligence (AI) is massive. You could be using it without realizing it. You could be using it now…
According to the latest research, the global AI market is worth $207.9 billion and will continue to explode. By 2026, it should be worth $582.95 billion.
And we can see why. Major brands are investing millions into the tech, with brands like Microsoft and Google leading the way with the most substantial investment. Well, Google has been crazy, investing $30.7 billion in total thus far.
Yes, the focus (and most well-known) is often ChatGPT, but AI has been lurking in the background for years, creating applications like chatbots, facial recognition, and more.
Below, we’ll explore 5 of the most prominent companies successfully leveraging AI.
FINQ
FINQ has definitely benefited from its unique use of AI. FINQ’s 2023 financial analysis report references how they surpassed the S&P 500 24.23% gain in 2023, returning 57.66% with their FINQFIRST portfolio.
By leveraging advanced AI technology, FINQ is able to analyze a vast amount of data categorized into Crowd Wisdom (which comprises insights taken from social media), Professional Wisdom (distilled from industry experts), and Company Fundamentals (drawn from specific company data). By combining all of these insights and leveraging AI to rank S&P 500 stocks into stock rankings that are more user-friendly, FINQ’s platform strips away extraneous or misleading data to ensure a more streamlined decision-making process for investors. This information is collated into three portfolios – FINQFIRST, FINQLAST, and FINQEDGE – in order to meet with investors’ different strategies.
In other words, it’s not just about using AI to gather insights and score them; it’s about truly leveraging it in order to cut through the noise and clutter, and give investors actionable insights through a range of portfolios in which S&P 500 stocks are ranked. FINQ is unique in its ability to represent the bottom line for investors, which is something other analytic platforms are unable to do.
FINQ is a great example of a company capable of creating a highly sophisticated platform that leverages AI in its most advanced form.
Duolingo
Everyone knows about Duolingo. Love it or hate it, it’s a good app, and it can help you learn a new language. And Duolingo reported better-than-expected Q4 results after they launched an AI subscription tier in 2023, causing a stock surge of more than 20%. They also reported a 44% year-on-year revenue growth in 2023, taking their total to $531.1 million.
It would be impossible for Duolingo to manage its massive user base of 575 million+ and 56.5 million active monthly users.
The LLM personalizes the experience, tailoring it to each user’s progress. It’s incredible how far the platform has come.
Netflix
Netflix is always watching – well, the AI they’re using is always watching. And in 2023, reports show it invested over half a million dollars more into AI to improve the user experience. Multiple sources cite how Netflix’s recommendation engine is a key component of its predictive marketing strategy, keeping users watching more.
You’ll notice it appear once you’ve finished watching a movie or series – it usually suggests three more titles you’ve watched. Or, it’ll give you a section saying ‘Because you watched…’
Disney has a similar strategy, but Amazon Prime doesn’t. It’s probably one of the reasons there are over 260.28 million paid subscribers.
Boeing
Boeing’s collaboration with Shield AI is a major leap in integrating AI into aerospace. The agreement was signed at the Air Force Association Warfare Symposium, currently managed by Boeing Phantom Works.
Within a report released by Boeing, it cited it wanted to improve its autonomous capabilities, and AI definitely does do that.
The particular interest is in AI pilots as strategic deterrent technology. They think it will redefine what large aircraft can do, and we think they’re right.
It’ll be interesting to see the AI technology Boeing develops – it already has integrated AI technology into its automated pilot system. The fact they’re so interested in AI should put them head and shoulders above the rest.
US Department of Energy (Smart Grid Strategies)
The US Department of Energy’s adoption of AI for smart grid strategies shows AI’s critical role in managing complex, large-scale systems. It doesn’t get much more large-scale than the US Department of Energy Smart Grid Strategies covering large cities and urban areas. In urban and large city environments, balancing energy supply and demand requires sophisticated analysis and decision-making – simply impossible without AI. And they’ve recently invested an incredible $3.5B across 44 states to improve America’s grid.
So, as you can see, the impact is massive. It extends far beyond the latest generative models like GPT-4. The future of business will be dominated by those staying ahead with AI.
