Billionaire investor Bill Ackman, who heads Pershing Square Capital Management, became a successful hedge fund manager by investing in the consumer. If you peek at his fund's holdings, most of its investments dabble in the restaurant, retail, and hospitality industries.

But Ackman began pouring money into (NASDAQ: GOOGL) (NASDAQ: GOOG) last year, building it into his largest holding today. What might have caused Ackman to shift his strategy to the technology sector?

Look no further than artificial intelligence (AI). Alphabet is a fantastic business with AI potential, making it an enticing stock to buy and hold.

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Source Fool.com