SAVANNAH, Ga. () — As the tech sector pulls the stock market forward and AI rapidly advances, this new technology is a gold mine for many companies and investors.

Companies like Microsoft, Nvidia and Alphabet shares saw a massive increase in the past 12 months, according to Statista.

The senior index analyst Howard Silverblatt at S&P Dow Jones notes that the “Magnificent Seven” (Apple, Microsoft, Nvidia, Amazon, Meta, Tesla and Alphabet) has around 60% of the index’s total return in 2023.

Additionally, companies like Tesla and Amazon saw their share prices grow from 81% to 102%, contributing to the sector’s overall growth.

As more AI investment tools and services come out, they have been shown to help investors enhance data analysis, fraud detection and risk management strategies.

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Investopedia notes that AI tools are safe to use but only as good as the quality of the technology and the individual using it.

With the power to look through investment history in a matter of seconds, AI still poses risks.

The new technology can still portray bias and lacks the insight to capture the intricate dynamics of the stock market, according to Forbes.

While AI’s value and investments are projected to increase, Nasdaq’s Anthony Di Pizio explains that not all AI companies will receive long-lasting success.

Always do your research before investing especially in new technology as many new companies will start to pop up, with some as winners and others as losers.