Generative AI Software Sales Could Soar 18,647% by 2032. 1 Unstoppable Artificial Intelligence (AI) Stock to Buy Before They Do

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Generative AI Software Sales Could Soar 18,647% by 2032. 1 Unstoppable Artificial Intelligence (AI) Stock to Buy Before They Do

Most experts agree there’s been a paradigm shift in technology thanks to the latest developments in artificial intelligence (AI). Recent advances in

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have paved the way for a multitude of new use cases, as these systems can generate original content, handle menial tasks, streamline time-consuming procedures, and automate processes — all with a few simple keystrokes. This promises a giant leap forward in productivity, saving businesses time and money.

The shift to adopt AI has already begun, with

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taking center stage. Demand for AI software solutions is only beginning to take shape, but the potential is vast. It’s estimated that generative AI software sales could soar as much as 18,647% to $280 billion by 2032, according to data compiled by Bloomberg Intelligence.

While AI began making headlines early last year, investors might be surprised to learn that

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(NASDAQ: ADBE) established a beachhead in AI back in 2016 and has been a pioneer in the space ever since.

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Image source: Getty Images.

AI solutions, years in the making

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made a name for itself by providing software that helps users create, publish, and promote content. The most widely known are Photoshop and Acrobat PDF software. However, the company also has a long history of developing AI-based tools for its customers.

At

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MAX 2016, the company’s annual creativity conference, it unveiled

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Sensei. The company described the tool as “a new framework and set of intelligent services for dramatically improving the design and delivery of digital experiences.” The pioneering system leveraged AI, machine learning, and deep learning technologies to perform a wide variety of complex tasks for creators, including:

Image-matching across millions of images

Sensing documents’ meanings and sentiments

Fine-tuning an approach based on the target audience

These capabilities and many more were deeply integrated into

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’s Creative Cloud, Document Cloud, and Marketing Cloud, making them available to users years ahead of their time.

Yet, that was just the beginning. Early last year,

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unveiled Firefly, its suite of generative AI models designed to help users generate media content, streamlining the process. These models can “amplify creativity and intelligence without replacing the beauty and power of the human imagination.”

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customers use Firefly tools “to create, edit, measure, optimize, and review billions of pieces of content with power, precision, speed, and ease.” Firefly helps users create images and edit photos and videos, among other tasks.

Story continues

The utility of these tools is helping

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attract more users to the free-to-use versions of its software. The company is also doing a better job converting these free users to paying customers, boosting future growth.

The numbers tell the tale

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’s recent results illustrate that these next-generation software tools are finding their target audience. For its fiscal 2024 second quarter (ended May 31),

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generated record revenue of $5.31 billion, up 10% year over year, while earnings per share (EPS) of $3.49 jumped 24%.

To close out the quarter, remaining performance obligation (RPO) — or contractually obligated sales that haven’t yet been booked as revenue — climbed to $17.86 billion, an increase of 17%. It’s always a good sign when RPO is growing faster than revenue, as it provides insight into future sales trends — and in this case, the news is good.

Management clearly believes the company’s growth streak will continue, increasing its

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for the full fiscal year. The company now expects revenue of $21.45 billion at the midpoint of its guidance, an increase of 11% year over year, resulting in adjusted EPS of $18.10, up 13%.

An attractive opportunity

Shares currently trade for roughly 27 times analysts’ estimates for

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’s fiscal 2025 earnings. That’s an attractive price for an AI pioneer with solid growth, lots of recurring, subscription-based revenue, and plenty of opportunity to capitalize on the growing adoption of AI.

Generative AI is still in the earliest stages of adoption, and the ongoing deployment could take years or even decades. Thanks to years of real-world expertise and a built-in customer base,

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has positioned itself as an early beneficiary in the next stage of the AI revolution.

Should you invest $1,000 in

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right now?

Before you buy stock in

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, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 

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for investors to buy now… and

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*Stock Advisor returns as of August 22, 2024

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has positions in

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. The Motley Fool has positions in and recommends

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was originally published by The Motley Fool

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#Generative #Software #Sales #Soar #Unstoppable #Artificial #Intelligence #Stock #Buy

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