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By Chuck Saletta*
AI chatbots look like they have the potential to impact all sorts of industries. Here are three players in the space that may be worth a look.
ChatGPT’s recent public launch generated a lot of buzz. The chatbot’s ease of use, wide range of trained topics, and remarkable fluent communication style have people across industries scrambling to figure out how to build similar capabilities into their operations. ChatGPT’s potential to disrupt industries is becoming clear — and even highly skilled roles are likely to be impacted by it in one way or another.
In a world where the choice may very well be between doing the disrupting or getting disrupted yourself, it makes sense to ask if there’s a way to invest in ChatGPT or other technologies like it. ChatGPT itself is a project of OpenAI — which is a company currently managed by a non-profit. As a result of that structure, you can’t directly buy shares of OpenAI. Still, it’s worth assessing the landscape to see what might be available for investors to consider.
3 ways to get invested in the trend
First, Microsoft (NASDAQ: MSFT) is an investor in OpenAI, which means it will likely directly benefit from anything ChatGPT can monetize. To jumpstart that, Microsoft has launched an OpenAI service as part of its Azure platform, with ChatGPT integration expected to come soon. As a key benefit of being an investor in the company behind ChatGPT, Microsoft is clearly well positioned to be an early adopter and beneficiary of its capability.
Even before the launch of ChatGPT, Microsoft had already made a name for itself in the chatbot space with its Bot Framework. That platform is generally considered among the best in class when it comes to the ability to create and deploy chatbots for enterprises.
Next on the list is Alphabet (NASDAQ: GOOGL). Not one that’s used to being caught behind a major trend, Alphabet has long been an investor in AI platforms. Its DeepMind business line is the company behind tools that help with scientific tasks like protein folding research. It has also flexed its muscles with AlphaGo, the AI platform that can beat the world’s best players in the classic game of Go.
Still, the popularity of ChatGPT has taken Alphabet a bit by surprise, and Alphabet now looks like it is working to aggressively incorporate more chatbot like services into its offerings as well. Given its strengths in other aspects of artificial intelligence and DeepMind’s recent shift to being a profitable business line, I certainly wouldn’t count Alphabet out on this one.
Finally, what would a tech war be without participation from Amazon (NASDAQ: AMZN)? Amazon’s Alexa for Business platform offers Alexa as a digital assistant for people at work. Key areas where that platform already excels is in things like joining or coordinating online meetings, calendar management, and conference room scheduling.
Companies can also program “private skills” for their Alexa for Business offerings, enabling them to customize the AI to perform new tasks for them. That, along with its great voice recognition and response technology and continued development by the Alexa team itself, will likely keep Amazon’s Alexa for Business in the game for quite some time.
If you can’t beat them, consider buying them
ChatGPT was certainly a breakthrough in the AI chatbot space, and it’s one that looks like it is poised to launch a revolution across many industries. We may not be able to avoid the disruption that’s likely coming our way, but we can put ourselves in the position to potentially profit from it.
All three of these companies look like ones that have potential to ultimately be winners from this new technology. Whether any of them deserve a spot in your portfolio is up to you, but if you’re interested in investing in the AI chatbot space, they’re certainly worth looking at.
- At the time of publication, Chuck Saletta owned shares of Microsoft.
- Sources – EasyResearch, The Atlantic, OpenAI, The Verge, Learn Microsoft, BotPress, DeepMind, VentureBeat, AWS Amazon, Ed Week
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