“Every industry is being transformed by AI, and this will only accelerate in the current economic environment as companies look to improve productivity, reduce costs, and enhance human-machine collaboration,” Masroor Batin, chief executive of wealth management for the Middle East and Africa at BNP Paribas, says.
The importance of AI has been proven across multiple areas of the economy in a Covid-19 dominated 2020. Not only are major corporations upping their investments in IT, including AI, cloud and cybersecurity, AI has also played a critical role in accelerating the development of technologies to combat the Covid-19 pandemic.
Nevertheless, investing in AI is less clear cut than investing in, say, solar energy producers or e-sports companies. For one, there is no firm definition of what constitutes an AI company.