Artificial intelligence has been on the minds of companies and investors throughout 2023 as one of the top trending items.

Bank of America noted the impact artificial intelligence can have on several sectors going forward and made the claim it could be highly disruptive.

Here's a look at several stocks and ETFs investors should know.

Artificial Intelligence Disruption: Multiple companies could benefit from the disruption of artificial intelligence. This has led investors to look for top names that could see revenue and earnings per share gains through the technology.

"It's not just tech companies that will benefit from AI's newest wave. Our view is that GenAI's transformation will likely be similar to the transformation driven by past disruptive technologies like the telephone, automobile, personal computer and internet," Bank of America analyst Alkesh Shah said.

The analyst compiled results from a survey of analysts to predict which sectors and stocks stand out for investors.

While most disruptive technologies have taken 15 to 30 years to reach mainstream adoption, the analyst said generative artificial intelligence could reach mainstream adoption faster than many expect.

"AI-driven efficiencies and incremental revenue may appear across sectors globally as soon as the next 3-5 years, far more rapidly than past technologies and investors may anticipate, indicating that upside potential may not be fully priced in."

The economic impact of artificial intelligence could be $15.7 trillion by 2030 according to the analyst.

Stocks and ETFs to Watch: The report from Bank of America included many stocks that could be impacted by artificial intelligence. Here is a look at some of the standout case studies from the report.

Nvidia Corp (NVDA  ): One of the biggest winners in 2023 has been Nvidia, a stock linked heavily to the rise of artificial intelligence initiatives. The analyst said the company was seeing incremental revenue streams from its chips being used for artificial intelligence tasks. The company controls around 75% of the AI graphics processing unit (GPU) market, according to the analyst.

"We expect Nvidia's AI strategy to drive new revenue streams that may ultimately lead to business transformation," Shah said.

International Business Machines (IBM  ): The company's Watsonx GenAI platform could drive incremental revenue streams. The company was also leveraging Watsonx and chatbots to drive efficiencies and increase productivity, including a 30% reduction in back-office jobs. The analyst noted Watsonx could bring in $1 to $2 billion in consulting revenue for IBM in fiscal 2024 and fiscal 2025.

Sweetgreen Inc (SG  ): The restaurant company is using its Infinite Kitchen to drive efficiencies and increase productivity. The analyst said robots in the kitchen to automate operations are also helping with the customer experience. The first Infinite Kitchen saw a 67% reduction in labor costs and had higher production of food items than traditional Sweetgreen stores. The company said all of its stores would eventually be automated.

Adobe Inc (ABDE  ): The company's GenAI application Firefly is bringing incremental revenue streams to the company through a text-to-image tool. A beta launch of Firefly has led to over two billion images being produced since March 2023. The company was embedding Firefly into its Creative Cloud product line and raising subscription prices. The analyst said Firefly could bring in an extra $1 billion in revenue for Adobe in fiscal 2024.

Workday Inc (WDAY  ): The analyst said the company was investing in artificial intelligence since 2020 and could see incremental revenue streams paying off with products like AI Marketplace and Workday AI Gateway. The company also launched a GenAI feature to automate job descriptions.

Meta Platforms Inc (META  ): Engagement and monetization on Meta-owned platforms like Facebook and Instagram could improve through the transformation of artificial intelligence tools, the analyst said. The company is using artificial intelligence-recommended content on platforms and saw an uptick in time spent on its social media platforms in the second quarter, a potential boost from the initiatives.

Morgan Stanley (MS  ): The global investment company has plans for an AI-powered chatbot, which uses OpenAI. The initiative could give financial advisors a competitive advantage against the competition and lower the time needed to spend on research reports and client engagement.

Global X Robotics & Artificial Intelligence ETF (BOTZ  ): One of three ETFs recommended in the report and called the best pure-play for the generative AI revolution.

Global X Artificial Intelligence & Technology ETF (AIQ  ): Called the top diversified of the ETFs named in the report.

iShares U.S. Tech Breakthrough Multisector ETF (TECB  ): Another ETF named in the report for exposure to artificial intelligence companies.