According to Piper Sandler analysts, generative AI is poised to become the next technology revolution with significant implications for both consumer and enterprise sectors. The analysts estimate the market opportunity to exceed $100 billion, split between AI-enabled search advertising and AI-enabled enterprise application revenue.
The analysts cited the success of ChatGPT, which attracted over 300 million unique visitors in March, as evidence of the technology’s potential.
The analysts highlighted number of companies that are likely to benefit from the generative AI technology, including, Samsung, Microsoft (NASDAQ:MSFT), Meta Platforms (NASDAQ:META), Oracle (NYSE:ORCL), Nvidia (NASDAQ:NVDA), Arista Networks (NYSE:ANET), Doximity (NYSE:DOCS), DuoLingo (NASDAQ:DUOL), Intuit (NASDAQ:INTU), Snowflake (NYSE:SNOW), Autodesk (NASDAQ:ADSK), Five9 (NASDAQ:FIVN), Nice (NASDAQ:NICE), and GitLab (NASDAQ:GTLB), Walmart (WMT)