Investors should expect Microsoft (NASDAQ:MSFT) to continue deploying artificial intelligence this year in new and highly effective ways. MSFT stock could gain substantial value during the coming months. That’s because Microsoft’s ambitious foray into AI should position the tech giant to generate strong revenue.
Will you take part in the machine learning market’s growth, or will you just sit on the sidelines? Without a doubt, AI is the predominant tech trend of 2023 so far, and it’s not slowing down in the second quarter.
Microsoft has already established itself as a power player in this fast-emerging industry. By partnering with OpenAI and availing itself of the company’s ChatGPT chatbot, Microsoft staked an early and aggressive claim in the potentially lucrative machine learning market. So, are you ready to join the bot revolution?
Microsoft Brings AI Functionality to Healthcare
As soon as you think you know what Microsoft will do next, the company keeps coming up with fresh surprises.
Just recently, Microsoft introduced an automated clinical documentation application called Dragon Ambient eXperience (DAX) Express. This combines conversational/ambient AI with the “advanced reasoning and natural language capabilities” of OpenAI’s GPT-4.
DAX Express is integrated into healthcare providers’ workflows. Outcomes could include enhanced patient engagement, more informed decision-making through AI insights and simplified patient-and-physician communication.
Only time will tell whether DAX Express actually delivers these intended outcomes. Still, it’s encouraging to see Microsoft applying machine learning to healthcare settings, which should benefit all stakeholders.
AI-Enhanced Bing Enhances Value of MSFT Stock
By now, you may have experienced the Microsoft’s new ChatGPT-enhanced Bing search engine. If so, then you’re certainly not alone as Bing currently has over 100 million daily active users.
There have been more than 100 million chats on the new Bing. Plus, of the “millions of users in Preview, one third are new to Bing.” This creates new revenue opportunities for publishers – and a chance for Microsoft to generate its own revenue from these publishers.
Microsoft is currently “exploring additional capabilities for publishers,” including over 7,500 Microsoft Start partner brands.
It will be interesting to see how Microsoft continues to collaborate with publishers on the new Bing over the coming months. Suffice it to say, every partnership offers another moneymaking opportunity for all parties involved.
What You Can Do Now
Microsoft got in early and ambitiously, and is now reaping the benefits of the machine learning movement. Now, it’s just a question of how the company’s foray into AI will affect Microsoft’s bottom line.
Chances are excellent that Microsoft will deliver outstanding results over the coming quarters due to the company’s AI ventures. So, if you’re on board with Microsoft’s AI exposure and are ready to make a move, consider a reasonably sized stake in MSFT stock.
On the date of publication, Louis Navellier had a long position in MSFT. Louis Navellier did not have (either directly or indirectly) any other positions in the securities mentioned in this article.
The InvestorPlace Research Staff member primarily responsible for this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article.