The artificial-intelligence boom has investors transfixed on finding the next hot stock to explode out of the market. But Goldman Sachs Group Inc. has a different idea for playing the AI trade: forget today, think long-term.

The bank’s analysts, including Ryan Hammond and David Kostin, devised a basket of firms with the largest potential long-term EPS boost via AI’s ability to create a more productive workforce, lower labor costs, or both. Using 2024 consensus earnings estimates as a baseline, the team found that the median stock in their index (ticker GSTHLTAI) could see its earnings per share some 72% higher via AI-related productivity increases.

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