Is Artificial Intelligence Stock Symbotic a Buy?
The debut of OpenAI's ChatGPT in late 2022 helped to kick off an artificial intelligence (AI) frenzy. Soon after, plenty of other AI companies rushed to tout their various AI strengths, hoping to attract investor attention. But which AI-related ventures will be worthwhile investments over the long haul?
One company investors might want to consider is robotics specialist Symbotic (NASDAQ: SYM). It provides businesses with AI-controlled machinery to autonomously process freight at warehouses. This technology can provide retailers with efficiencies similar to those Amazon achieves with its own robots.
AI-managed mechanical workers are part of a growing industry. The global warehouse automation market was worth over $23 billion in 2023, and it is forecast to reach $41 billion by 2027.
Source Fool.com
