Artificial intelligence is sweeping the Australian tech landscape, with shares surging as big tech firms prepare to unveil the technology for the first time.
The Australian stock market has surged over the past week after big tech companies revealed their AI products, with AAPL, ASX 200 and CMCSA all hitting new all-time highs.
But the big tech giants have yet to reveal their AI solutions, or their AI platforms, and analysts are concerned that the market could be dominated by technology companies with deep pockets.
AAPL has risen more than 30 per cent since mid-October and is now up more than 7 per cent in 2016.ASX 200 shares are up nearly 14 per cent this year, while CMCSC has gained more than 6 per cent and is up over 5 per cent.
The Australian dollar has also risen to the highest level since June, reaching its highest level in four years.
Australia is on track to have one of the fastest growing AI markets in the world, with companies including Google, Amazon and IBM forecast to unveil AI platforms by 2021.