Editor's note: It's easy to think that emerging tech trends are only for tiny startups and unproven innovators. But following the hype into unknown companies can be dangerous. As Louis Navellier (of our corporate affiliate InvestorPlace) says, existing market leaders can be great ways to profit. In today's Weekend Edition – adapted from an issue of Louis Navellier's Market 360 – he highlights one blue chip that's positioned to profit from the rise of artificial intelligence...

Say you have $1,000 in hand.

You're keen to invest in an artificial-intelligence ("AI") stock.

Do you "take a flier" on a company whose name you hadn't heard of prior to January, don't know much about, and only heard about this year because it has "AI" in its name?

Or would you choose a "boring" company that has been around for decades, is known as a successful innovator, and whose products and services have more than 1 billion fans around the world?

If you take a step back and divorce yourself from the wind-whipping hype swirling around AI, you'd likely choose the latter. I mean, why wouldn't you?

This established tech firm has been a "serial success story" – tackling one opportunity after another – which means it'll likely win in AI, too.

But that's not the kind of rational thinking most investors are engaging in when it comes to this technology...

There are bigger companies that have the resources, track records, and know-how to engineer the most mind-blowing advances we'll see in AI. But a lot of folks are wasting their money on companies that most of us had never heard of before 2023.

I'm talking about AI companies such as BigBear.ai (BBAI) and SoundHound AI (SOUN).

Take a look at this chart for BBAI showing its share-price progression from February 6 till now...

The stock is down roughly 78%.

Or, take a look at the fall in SOUN...

That's a 62% loss from its highs.

The bigger, established tech companies might seem "boring." But you shouldn't write them off. They're the ones most likely to succeed during this trend.

For example, one market-leading tech company is investing heavily in AI – and it looks like a solid buy right now...

On March 16, Microsoft (MSFT) announced the launch of Microsoft 365 Copilot, an AI-powered enhancer for its Microsoft 365 suite of apps and services, which includes Excel, Word, and PowerPoint.

Using Copilot in Excel, you won't need to know the exact formula you should use for a particular scenario... You can simply ask Copilot questions and receive formula recommendations. Copilot will also share correlations it finds throughout the data you have and suggest what-if scenarios.

Say that you have all of your sales organized by quarter but that you sell hundreds or thousands of products.

Well, instead of having to dig through that information yourself, you can ask Copilot to do it for you.

Copilot will also be able to gather information from one document and use it to create content in another.

All of these features help remove some manual tasks and make it even easier to visualize, analyze, and present data.

Microsoft has been testing Microsoft 365 Copilot with just a handful of customers to receive feedback. But in the months ahead, it will bring Copilot to Excel, Word, PowerPoint, Outlook, Teams, and more. It has even reported that some corporate customers will get access as early as November 1.

Microsoft also offers Azure OpenAI Service, which allows companies to integrate custom AI-powered experiences into their own applications – like having chatbots available to answer common customer questions.

The service currently has more than 11,000 customers. And it has been exploding in popularity – growing its base last quarter by an average of 100 new customers per day.

I know it's tempting to write the bigger tech companies off as "boring" AI stocks – since everyone already knows about them... But it's never boring when you're making money.

Regards,

Louis Navellier

Editor's note: Many of the biggest AI winners will bear names that are familiar to investors. But you can do even better... by using AI yourself to improve your returns. Last Thursday, Louis went on camera to discuss a unique system for predicting the exact share price of certain stocks – every 21 trading days – with an 82% success rate.

Louis believes this strategy could triple your portfolio or better. And he even gave away the names of four free recommendations to help you get started... Watch the replay right here.