Emerging AI Technologies and Stock Market Trends in 2024

As 2024 unfolds, Google is making significant strides in AI technology with its upcoming launch of Gemini Ultra, set to be integrated into the advanced version of its AI assistant, Bard. In early December, Google announced that Gemini Ultra would be available in “Bard Advanced,” a platform designed to provide “complex, better responses.” The emergence of this advanced version was accidentally revealed through a glitch on the Bard website, showcasing a dropdown menu offering two options:

  • Bard: For simpler, faster responses
  • Bard Advanced: For complex, better responses

Currently, Bard operates on Gemini Pro, aimed to rival GPT 3.5. However, Gemini Ultra is claimed to surpass GPT 4 in benchmarks. This advancement was further evidenced when a reader noticed design changes on bard.google.com, although these were temporary, suggesting an inadvertent exposure by Google.

Last month, Google highlighted that Gemini Ultra was undergoing rigorous “trust and safety checks” and model refinements. Google also announced its partnership with Samsung to test Gemini Ultra on complex tasks, with broader availability for developers and enterprise customers planned later in the year.

Stock Market Dynamics: The Magnificent Seven

The year 2024 has witnessed the continued strength of the ‘Magnificent Seven’ stocks, including giants like Nvidia (NVDA), Microsoft (MSFT), Amazon.com (AMZN), and Meta Platforms (META). Alphabet (GOOGL), Google’s parent company, has seen its stock soar, thanks to the major upgrade with Gemini Ultra. This upgrade represents a pivotal moment in the AI-driven chatbot competition, particularly between Google Bard and Microsoft Copilot, which leverages Bing search and ChatGPT.

Google Bard, which has been using Gemini Pro, started deploying a version specifically tuned for advanced reasoning and understanding in English. The introduction of Bard Advanced, equipped with Gemini Ultra, marks a significant leap in Google’s AI capabilities.

Among the Magnificent Seven, three companies – Nvidia, Meta, and Tesla – have been highlighted as the best stocks of 2023. While META and NVDA continue to reach new heights, Tesla’s stock has seen a decline. Google’s stock, alongside Microsoft’s, remains attractive to investors. Amazon’s stock has slightly exceeded its buy range. Alphabet notably cleared a significant buy point on December 20, with rising volume indicating strong institutional demand.

Upcoming Earnings Reports and Investor Anticipation

As the Q4 earnings season approaches, anticipation builds around the performance reports of Alphabet and other leading companies like Meta, Amazon, Apple, and Microsoft. Alphabet is scheduled to report its fourth-quarter and full-year 2023 performance on January 30, with analysts predicting a 23% earnings growth. Microsoft, another key player in the AI arena, will also report its earnings on the same day. This period is critical for investors, as they await to see the impact of these reports on stock valuations.

However, investors are cautioned against making hasty decisions based on these upcoming reports. It’s advisable to observe the market reaction to these reports before establishing new positions, thus reducing investment risk.

AI Technology: A Catalyst for Future Growth

AI technology is rapidly changing, with Google’s Bard and Microsoft’s Copilot leading the way. This isn’t just about business today—it’s a sign that AI will become a big part of our lives and work in the future. Companies that put money into AI could see huge gains, as it can be used for all sorts of things like helping customers and analyzing complex data.

For those looking to invest their money, AI is where the growth is at. Firms on the cutting edge of AI tech are probably going to stay ahead, shaping what comes next in the market and might give their investors a nice profit. But, it’s not all smooth sailing. AI moves fast, so investors need to keep up or they’ll fall behind, with today’s top company potentially being tomorrow’s has-been.

Conclusion

Wrapping up, 2024 is set to be a key year for AI tech and the stock market. With Google’s Bard Advanced and Gemini Ultra stepping up the game, Microsoft’s Copilot has got some serious competition. The Magnificent Seven stocks, especially the ones in tech, are what everyone’s going to be watching, with the next batch of earnings reports coming up. These developments offer a glimpse into the rapidly evolving landscape of technology and finance. Learn More.