Bank of America has identified several stocks and exchange-traded funds (ETFs) that are poised to benefit from the growth of artificial intelligence. The Wall Street bank surveyed its fundamental equity team of 130 analysts covering about 3,400 companies to determine which companies stand to benefit from artificial intelligence across various industries. The bank believes that the development of artificial intelligence is the third major technology cycle in the past five years. The early cycle was the growth of the Internet and mobile phone devices. On August 5, Bank of America analysts led by Alkesh Shah said, “Although artificial intelligence capital expenditures may reach (more than US$1 trillion) in the short term, relative to the Internet, we are still in 1996.” FirAI application The programs and the underlying models that power them have evolved rapidly over the past 18 months, but over the next 5-10 years, we expect GenAI to transform the global economy and our lives. Their research highlights three ETFs that offer AI themes that are easily accessible to investors: While AI-powered chatbots, writing, research and coding apps have attracted user interest, analysts say But longer-term and more profitable use is likely to emerge when large companies embed AI systems into their processes. The BofA analysts added: “Enterprise AI strategies are more complex than typing questions into ChatGPT, but we expect pilots to continue to grow as 44% of S&P companies mention ‘artificial intelligence’ in Q2 2024 earnings reports Moving to production, enterprise artificial intelligence strategies will accelerate adoption in 2025. The table below lists the European and Asian stocks picked by analysts at Bank of America, all of which also trade in the United States. German enterprise software developer SAP. — CNBC's Michael Bloom contributed reporting.