The Global Industry Classification Standard (GICS) places information technology into three industry groups: software and services, technology hardware and equipment, and semiconductors and semiconductor equipment. In recent years, what has tied these groups together is their role in developing, advancing and commercializing artificial intelligence (AI) applications.
For the average person, AI today is less about science fiction and more about practical tools. It powers voice assistants, creates personalized shopping suggestions, improves medical imaging, automates customer service and helps design computer chips and software.
