Exploring AI's impact beyond the tech giants

Key takeaways

• Artificial intelligence (AI) is rapidly advancing, extending its influence beyond well-known tech giants to a diverse range of companies within the Nasdaq-100 Index.
• Several innovative and up-and-coming firms are leveraging AI in unique ways, helping drive growth and transforming industries such as cybersecurity, healthcare, and mobile advertising.
• Investors can gain exposure to these forward-thinking companies through investment vehicles like Invesco QQQ ETF, which tracks the Nasdaq-100.

The rapid evolution of AI has captivated global attention, with prominent companies like NVIDIA  and Microsoft often dominating the conversation due to their significant contributions to AI infrastructure and applications.

The AI landscape is vast, though, with numerous companies within the Nasdaq-100 Index employing AI in less publicized but intriguing ways. These innovations are not only transforming their respective industries but also offering potential opportunities for investors seeking exposure to cutting-edge advancements.

Fortinet: Revolutionizing cybersecurity

In an era where cyber threats are becoming increasingly sophisticated, Fortinet has become a leader by integrating AI into its cybersecurity solutions. Fortinet is best known for its firewall and network and cloud security solutions. In particular, the company’s AI-driven FortiAI  platform emulates human security analysts, enabling real-time threat detection and response.

This proactive approach allows Fortinet to identify and neutralize cyber threats swiftly, enhancing the security posture of organizations worldwide. By automating complex security tasks, Fortinet’s AI integration not only helps improve efficiency but also can reduce the potential for human error in critical cybersecurity operations.

Intuitive Surgical: Enhancing robotic-assisted surgery

Intuitive Surgical is pioneering the fusion of AI and robotics in the medical field. The company’s da Vinci systems incorporate AI to assist surgeons with advanced imaging, real-time analytics, and precise instrument movements.

By analyzing vast datasets from previous procedures, the AI component provides insights that enhance surgical precision and patient outcomes. This integration of AI facilitates minimally invasive surgeries, leading to reduced recovery times and improved overall patient care.

Robotic surgery is an area that may see increasing adoption around the world in coming years. In early 2024, Intuitive Surgical rolled out da Vinci 5 , the next generation of its robotic surgical system.

Palantir Technologies: Empowering data-driven decisions

Palantir Technologies specializes in data analytics platforms augmented with AI capabilities, enabling organizations to glean actionable insights from complex datasets. Its AI-driven solutions, including the Foundry  and Gotham  platforms, are instrumental across various sectors, including defense, healthcare, and finance, supporting predictive analytics and informed decision-making processes.

By leveraging AI, Palantir can enhance the ability of organizations to interpret data patterns, forecast trends, and make strategic decisions with greater confidence.

AppLovin Corporation: Transforming mobile advertising

AppLovin utilizes AI to help revolutionize mobile advertising, optimizing user acquisition and monetization strategies for app developers. The company’s AI models analyze user behavior to deliver personalized ad experiences, aiming to increase engagement and revenue for clients.

By tailoring advertisements to individual user preferences, AppLovin seeks to enhance the effectiveness of marketing campaigns, benefiting both developers and end-users. Specifically, the company has introduced AXON 2.0 , an AI-powered platform that optimizes ad delivery through continuous learning and data refinement.¹

Broadcom: Powering AI infrastructure with advanced hardware

It’s not just NVIDIA in semiconductors. For example, Broadcom plays a crucial role in the AI ecosystem by supplying custom chips and networking equipment essential for AI infrastructure. The company’s hardware solutions are integral to data centers and cloud services, facilitating efficient AI processing and scalability.

As the demand for AI applications grows, Broadcom’s contributions help ensure that the necessary computational power and connectivity are in place to support advanced AI functionalities.

Investing in AI's still dynamic future

While industry giants like NVIDIA, Microsoft, and a handful of others are often highlighted for their AI advancements, numerous other companies within the Nasdaq-100 are making significant strides by integrating AI into their operations in innovative ways.

These firms are not only transforming their industries but also contributing to the broader AI revolution. Investors seeking to participate in this dynamic landscape can consider Invesco QQQ ETF, which offers exposure to these and other pioneering companies within the Nasdaq-100.