Electricity is like oxygen: You only think about it when you don’t have it.
It’s part of our everyday lives, yet it’s likely the blessing we take most for granted.
As a young man, I didn’t think much about electricity. But I remember how my grandparents felt about this modern commodity.
I don’t remember how the conversation started on that warm spring day in 1977. But I had asked them what the greatest invention they’d seen in their lifetimes was.
“Electricity,” my grandfather answered, with my grandmother nodding her head in agreement.
“You have no idea what it means to have light in the nighttime,” he said.
“Or be able to keep food cold in a refrigerator or wash clothes without it taking hours,” my grandmother added.
That evening, I realized that I’d lived a life structured around electricity. And I didn’t relate to their point of view.
A few months later, the importance of electricity became more obvious to me.
A lightning strike tripped circuit breakers at an electrical substation. New York City suffered a blackout on the night of July 13, 1977.
There was no electricity for the next 24 hours.
Since store alarms didn’t work, we experienced citywide looting. Arsonists burned down many sections of Brooklyn. It took the city more than a decade to recover.
Electricity changed the world forever. Without it, it would be very difficult for our modern society to exist.
And there’s another huge trend taking place right now that’s just as important…
Artificial Intelligence Is the Next Tech Revolution
Andrew Ng, a former chief scientist at tech giant Baidu, said: “Just as 100 years ago electricity transformed industry after industry,” this new trend will do the same.
He was referring to artificial intelligence (AI).
The impact of AI on labor and productivity is projected to be close to $7 trillion and almost $9 trillion on consumers.
AI’s total impact should be close to $15.7 trillion over the next decade or so.
That’s greater than the gross domestic product of China!
AI is already changing the ways we live and work:
- Manufacturers are using AI to create more efficient supply chains. Instead of unexpectedly running out of an item, AI will tell the company what to stock up on beforehand.
- Customers will no longer have to go to competitors because an item is sold out. Instead, AI will make companies more responsive to consumer demands, resulting in higher sales.
- The transportation of goods will become faster and more efficient. AI will also make driverless trucks a reality within the next few years. Deliveries will get to their destinations faster, there will be fewer accidents on the road and fuel efficiency will be higher.
Labor and productivity improvements alone are projected to be close to $7 trillion!
AI Will Revolutionize Your Life and Your Wallet
Artificial intelligence will have a huge impact on your life and health.
With this new technology, health care will be more accurate and faster with diagnoses. In addition to catering to a person’s specific needs and treatments, your doctor visits will be more personalized.
AI technology can help you save money in your home. Smart metering gives energy companies real-time information on energy usage. This way, you only pay for what you’re using.
Bringing it full circle, AI will make sure that you’re never left in the dark. The technology will create better and more cohesive grid operation, storage and routine maintenance.
AI won’t be some technology craze — it’ll be around for the long haul. And it will make life easier and more efficient.
It’s hard to imagine a life without electricity. Heck, it’s hard to imagine life without a Wi-Fi connection.
And in a few years, you’ll be wondering how you managed to do anything without AI. This emerging technology will have a lasting effect on your life and your wallet.
This is why I’ve been focusing on finding AI-related stocks that are going to soar in the next several years.
Each company I pick will be the next leader within its sector, so we can rack up stellar triple-digit gains.
The time for you to be part of this life-changing opportunity is now!
As I mentioned on January 24, the ROBO Global Robotics & Automation Index ETF (NYSE: ROBO) is a great starting point — and it’s up 10% since I first recommended it.
This ETF will give you exposure to some of the top robotics and artificial intelligence companies in the world, such as Brooks Automation Inc., Omron Corp. and Oceaneering International Inc.
All my best,
Editor, Alpha Investor Report