Artificial intelligence (AI) is rapidly advancing, with each of the major tech companies participating in some capacity, and the opportunities are not monopolized by the Magnificent Seven.

“Every company is going to have to be an AI company,” said Ivan Feinseth, senior partner and CIO at Tigress Financial, while appearing on Benzinga PreMarket Prep on Friday.

He was quoting Tom Siebel, CEO of C3.ai (NASDAQ:AI), an enterprise AI application development platform, and a company that Feinseth likes and invests in.

“Every company is going to have to, in some way, deploy AI in tracking customer behavior, optimizing supply chains, and increase business efficiency and employee efficiency,” Feinseth added.

“This is going to be the next goldrush — like automation and electronics was in the 1970s, home computing in the 1980s and the internet in 1990s and early 2000s.”

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‘Hyperscalers’ And Smaller Companies

But what of the dangers of AI — the existential threat to job security? Feinseth holds Adobe Inc (NASDAQ:ADBE) shares, but doesn’t believe a graphic designer is going to lose his or her job to AI.

“A graphic designer is going to lose his or her job to a graphic designer using AI to be more efficient and more creative,” he said.

Feinseth added: “AI is going to increase operating efficiency, increase creativity, productivity and job satisfaction. Yes, there is one caveat – that we’ve all seen Terminator – so we know what could happen. But overall, the trend of increased AI adoption is going to continue.”

Intel’s Growth Fueled By Foundry Investment

Feinseth also holds shares in Intel Corp (NASDAQ:INTC), where he identifies long-term growth potential, especially due to the company’s significant $20 billion investment in new foundries, despite its 2023 gains.

“This is important, especially as all the other companies in the world would like to move away from China and come back to the U.S.,” he said.

Feinseth added that “we’ve seen many chip manufacturers and users like Apple Inc (NASDAQ:AAPL) and even Nvidia Corp (NASDAQ:NVDA) who’ve said that they’re interested in Intel Foundry Services.”

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Photo IvanFeinseth/TigressFinancialPartners Geralt/Pixabay