The rapidly growing adoption of artificial intelligence (AI) has given shares of many companies a big boost in the past couple of years, and that's not surprising as this technology is expected to impact the global economy in a big way.

Warren Buffett is the CEO of Berkshire Hathaway ( BRK.A 0.99%) ( BRK.B 0.95%), which has delivered an annual return of 19.8% since Buffett took the helm in 1965. That could have turned an investment of $1,000 into more than $42 million. The same investment in the S&P 500 index would have grown to just $308,115 over the same period.

The storied investor tends to “zig when everybody else zags,” a top analyst said.