Microsoft leads the AI race, according to Wedbush
jewhyte/iStock Editorial via Getty Images
Microsoft (NASDAQ:MSFT) is the current leader in artificial intelligence, according to investment firm Wedbush Securities, followed closely by Google (NASDAQ:GOOG) (GOOGL). 
But Amazon (NASDAQ:AMZN) and Meta (NASDAQ:META) arenât far behind.
Wedbush partnered with marketing and analytics consultants GBK Collective and professors from the Wharton School at the University of Pennsylvania to survey 672 enterprises to study how large enterprise decision-makers are viewing generative AI and their strategies, actions and upcoming plans.
âInvestors are laser focused on the AI use cases looking ahead and how enterprises plan to deploy AI into 2024,â analysts ,led by Dan Ives, wrote in a note. 
Microsoft (MSFT) took the early lead in the race with its OpenAI investment and the company has a âsignificant AI monetization opportunity within Azure through Microsoft Co-Pilot,â analysts said.
Google (GOOG) (GOOGL) is viewed as a major player in the generative AI space both present and in the future as it further improves its chatbot, Bard. 
While the aforementioned tech giants are in the driverâs seat, Amazon (AMZN), Meta (META), Nvidia (NVDA), Apple (AAPL) and others are likely to spend billions of dollars on AI in the coming decade.
Of those surveyed, more than 50% see over 20 use cases for generative AI and more than 80% see over 10 use cases, including data analysis, marketing content creation, document editing/summarization and more to improve business operations, increase efficiencies and create a more cost-effective capital structure.
About 89% of enterprise companies see the need for fundamental generative AI applications for data analysis, which was the top use case seen during the survey. 
âIn a nutshell, use cases are exploding and enterprises are viewing AI as a major strategic initiative over the coming years which we continue to view as the most transformational tech trend since the birth of the Internet in 1995,â Wedbush said.

More on Big Tech

Microsoft: 'The' Big 5 Tech Company
Amazon's Turnaround Presents A Buying Opportunity Despite Legal And Economic Concerns
Mega-Caps Are Cheap And Google Is My Favorite
Microsoft remains top pick at Morgan Stanley on AI, cloud, security strength
Sonos dips amid loss in Google patent case (update)