Shopify's Growing Potential in Artificial Intelligence for Investors

Shopify: A wonderful business even without AI

Shopify (NYSE: SHOP) is a wonderful stock even before diving into its AI upside. The company launched in 2006 after a pair of entrepreneurs attempted to start an online storefront for their snowboarding business. Disappointed with the lack of technology options for creating digital storefronts, one of the entrepreneurs with experience in coding decided to build his own. The result was the Shopify e-commerce platform: a one-stop shop for individuals and businesses looking to start selling online.

It turns out that Shopify's founders weren't the only ones dissatisfied with the market's options for building an online store. More than 1 million stores now run on the company's platform. Last quarter, Shopify-powered stores processed more than $75 billion in purchases.

AI will put Shopify's competitive advantage on steroids

Because Shopify has attracted so many developers to its e-commerce platform, it should be a prime beneficiary of AI -- but don't just take my word for it. Morgan Stanley analysts recently listed Shopify as one of its biggest AI winners over the long term. Why?

Most importantly, Shopify will be able to integrate more AI features into its platform at a faster speed than any competitor. That's because its platform is most attractive for AI developers looking to launch e-commerce tools and features.

Should you invest $1,000 in Shopify right now?

Before you buy stock in Shopify, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Shopify wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

• Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $544,015!*
• Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*.