Goldman Sachs brings unassuming AI stocks into the spotlight

At the recently held Communacopia + Technology Conference by investment bank Goldman Sachs in San Francisco, the topic of Artificial Intelligence (AI) took center stage. Despite the hype surrounding the industry's highlights, one message from Simon Mays-Smith, Senior Executive at Autodesk, garnered particular attention. He urged investors to focus more on the subtle yet equally important AI developments. Eric Sheridan, a respected analyst for the US internet sector at Goldman Sachs, supported this view. At the conference, Sheridan emphasized that the technology industry is in an intensive building phase that requires substantial investments. This phase is critical as it lays the foundation for long-term economic success. Key drivers include significant capital expenditures, enormous technical expertise, and large volumes of data, which create high barriers to entry in the market. Tod McKinnon, CEO of identity management company Okta, illustrated the role of AI in cybersecurity at the event. Okta uses machine learning and generative AI algorithms to detect suspicious activities and enhance security functions. McKinnon emphasized that AI-based solutions in identity protection and governance analytics technology make the company future-proof. Okta is ranked 7th by Goldman Sachs among the "subtle" AI stocks. Despite their potential, alternatives with possibly quicker and higher returns remain interesting for investors. For those seeking cost-effective and promising AI stocks, detailed reports are available.