At the top of the ranking is the French company Dassault Systèmes, which Bank of America appreciates for its acquisition of Medidata.
Bank of America has indicated that global companies exposed to the demand for artificial intelligence with greater growth prospects. In a recent report, the bank described the opportunity for AI in the software industry and compiled a ranking of European companies in the sector. At the top of the list is French software company Dassault Systèmes, which Bank of America appreciates for its acquisition of health data platform Medidata in 2019, which means it has information on drug trials from more than 7 million patients.
“This massive amount of data is a treasure trove for multiple AI solutions, with generative therapies as one of the most exciting use cases,” said analysts led by Frederic Boulan. German software company SAP is also very well positioned, with the bank taking action for its enterprise resource planning software, known as ERP, which helps companies automate HR management processes and other functions. “An enterprise’s ERP system contains massive amounts of data about business operations, making software vital in any generative AI integration,” Bank of America analysts said.
“We see generative AI as an opportunity for the software industry to achieve a potential increase in revenues through improved value proposition and data monetization, along with productivity improvements,” the bank said. Bank of America also analyzed the effect of generative AI on the IT services industry and said the implications “are the most polarized,” noting concerns about sales declines due to task automation.
“However, we view IT service companies as enabling change to GenAI for their customers through access to a vast pool of talent, with opportunities related to custom application development, data analytics, migration to the cloud and cybersecurity,” the analysts said.
The bank said consulting firms such as Capgemini, Kainos, and Tietoevry are "well positioned" to benefit from the demand for AI-related services. Bank of America said global AI revenues are expected to grow at a 19% compound annual growth rate, reaching $900 billion by 2026, citing data from the International Data Corporation.
Original article published on Money.it Italy 2023-07-29 07:00:00. Original title: Intelligenza artificiale, ecco le azioni europee su cui puntare
