Professional investor Paul Mampilly carefully follows the latest technology news for opportunities to make money. He is very interested in artificial intelligence, robotics, and the Internet of Things. Artificial intelligence is being used just about everywhere anymore. The ads you see online were selected for your viewing by an AI based on what you have recently shopped for online, such as at Amazon. Music apps will offer you suggestions based on what type of music you usually listen to. If you want to go on vacation there is AI that will suggest where to go and what to do once you’re there.
While some people think all of this artificial intelligence is a bit weird and scary, Paul Mampilly says that it’s actually pretty simple. He also regards it as harmless and very beneficial as it makes life easier. Businesses benefit from AI because it gives them a competitive edge against other companies in their industry. He says that companies that develop artificial intelligence or going to have their stocks skyrocket over the next decade and that is where investors should be looking for opportunities. At last year’s Total Wealth Symposium he let the audience in on three AI stock recommendations he had researched. That was 11 months ago and those three company’s stocks are now up 29 percent, 86 percent, and 145 percent.
Paul Mampilly says that the S&P 500 is about 16 percent during that time frame so investors could have made a lot more going with his recommendations instead of using an index fund following the S&P 500. He is also investing in companies that create robotics. He says that he has robotics in his own home such as the Nest Thermostat and a couple of drones. Robots are revolutionizing a number of industries including manufacturing, customer service, and hospitality. Paul Mampilly used to be a hedge fund manager before he decided to retire at age 42. Since he retired he still follows investments but now he does so for average people rather than the richest 1 percent. He writes Profits Unlimited which can be found through his publishing firm, Banyan Hill Publishing.