3 ASX growth shares that could benefit from the AI boom

Artificial intelligence (AI) is rapidly transforming industries across the global economy.

From cloud computing and healthcare to data infrastructure and enterprise software, businesses are increasingly investing in AI-powered tools and digital platforms to improve productivity and unlock new capabilities.

While many investors immediately think of large US technology companies when considering AI opportunities, several ASX growth shares are also well positioned to benefit from this powerful long-term trend.

Here are three shares that could ride the AI wave over the coming years, rather than be disrupted by it.

NextDC Ltd (ASX: NXT)

One ASX growth share that could benefit significantly from the AI boom is NextDC.

The company operates a network of high-performance data centres that provide the infrastructure required for cloud computing, hyperscale workloads, and artificial intelligence systems.

Training and running AI models requires enormous computing power and data storage capacity. As a result, demand for advanced data centre facilities has surged as technology companies and enterprises build out their AI capabilities.

NextDC’s facilities provide secure, highly connected environments where major cloud providers and enterprise customers can deploy large-scale computing infrastructure.

The company has also reported a record forward order book of contracted capacity that is expected to ramp into billing over the coming years, giving it strong visibility over future revenue growth.

With AI adoption accelerating globally, demand for the type of digital infrastructure NextDC provides could continue rising for many years.

Morgans recently tipped NextDC as a buy with a $20.50 price target.

Pro Medicus Ltd (ASX: PME)

Another ASX growth share that could benefit from the rise of artificial intelligence is Pro Medicus.

The healthcare technology company develops imaging software used by hospitals and radiologists to view and analyse medical scans.

Medical imaging generates enormous volumes of data, and AI tools are increasingly being used to assist doctors in detecting conditions such as cancer, heart disease, and other abnormalities.

Pro Medicus’ Visage platform is designed to process and display complex medical images extremely quickly, which can help clinicians work more efficiently and improve patient outcomes.

Importantly, the company’s platform can integrate artificial intelligence algorithms, allowing hospitals to combine AI analysis with advanced imaging workflows.

As healthcare systems increasingly adopt AI-powered diagnostic tools, demand for high-performance imaging platforms like those developed by Pro Medicus could continue growing.

Xero Ltd (ASX: XRO)

A final ASX growth share that could benefit from AI is Xero.

The accounting software company provides cloud-based financial management tools to millions of small and medium-sized businesses around the world.

Artificial intelligence is expected to play a major role in automating many accounting tasks such as invoice processing, expense categorisation, and financial forecasting.

By integrating AI into its platform, Xero aims to help businesses save time, gain insights from their financial data, and automate repetitive administrative work.

Over time, these AI-driven capabilities could make the platform even more valuable to small businesses and accountants, strengthening customer retention and attracting new users.

As AI becomes increasingly embedded into everyday business operations, Xero could be well positioned to benefit from this shift toward smarter, automated financial software. In addition, with unique data sets and complex tax rules, it would be hard to be disrupted by AI.

The post 3 ASX growth shares that could benefit from the AI boom appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Nextdc, Pro Medicus, and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.