Barclays has listed several global stocks that it expects to do well as the use of artificial intelligence-related services grows. The investment bank acknowledged that hardware and infrastructure giants, notably Nvidia and Microsoft, are currently seeing the immediate benefits of the AI hype. However, in the long run, services companies can still profit substantially. Companies in Barclays’ basket of “global AI winners” include Canada-based Telus and France’s Capgemini. The companies, which provide customer service, digital strategy and consulting services, are expected to rise 67% and 31%, respectively, according to analyst consensus target prices compiled by FactSet. “We believe that most of the near-term economic value of AI will be captured by a small number of key players in the underlying hardware of the AI value chain, while long-term innovation and adoption at the software level will ultimately benefit primarily from the technology sector.” Barclays, led by Emmanuel Cau Capgemini is also one of the companies identified by Goldman Sachs earlier this month as having the potential to be boosted by mid-cap AI applications and long-term, analysts said in a note to clients on June 22. The table below highlights Barclays Non-U.S. stocks in the artificial intelligence stock basket. Japanese and Taiwanese companies dominate the list, with six stocks in each country. Taiwanese companies include chipmakers such as TSMC, Gigabyte, Global Unichip and Alchip, while Japanese companies It includes manufacturers of high-tech components such as Lasertec and Tokyo Electron. Barclays also expects SoftBank Group to be a long-term beneficiary of artificial intelligence due to its investment in many start-ups and technology companies. Barclays Bank will Germany SAP and Britain’s Sage Group sees Europe as a potential long-term beneficiary. The two companies have access to vast amounts of data, which is critical to the realization of artificial intelligence, as they offer clients a variety of customer support, human resources and accounting tools. Likewise, Barclays Bank Amsterdam-based Adyen said it would benefit from increased adoption of artificial intelligence. The fintech and payment services company has previously admitted to using artificial intelligence to improve fraud detection and customer support. Dutch company ASM and its former subsidiary ASML are also listed A net beneficiary of the AI trend, these companies produce tools that can be used to make the high-tech semiconductor chips that power chatbots such as ChatGPT.