One of the best performers on the ASX on Monday was the BrainChip Holdings Ltd (ASX: BRN) share price. The artificial intelligence company's shares rocketed 25% higher to 6.9 cents at one stage before closing the day 14.5% higher. Investors were buying the company's shares after it announced the receipt of an EAR99 classification for its Akida Neuromorphic System-on-Chip (NSoC), Akida Software Development Environment (ADE), and related technologies from the U.S. Government. The Export Administration Regulations (EAR) classification of EAR99, which BrainChip has now formally received, removes the barriers for exporting Akida to non-U.S. The EAR99 designation means the company does not require a pre-approval, or a license from the U.S. Department of Commerce, before delivering its solutions globally as part of sales and market expansion activities.

One sector that is expected to boom over the next decade is artificial intelligence. There are many businesses that claim they're part of AI development, so it's hard to know which shares will give the clearest exposure to AI and deliver good returns. All of the top US businesses are doing something with AI one way or another. Microsoft, Alphabet (Google), Facebook, Amazon and Apple are all trying to make their technology better with AI. If it's hard to pick one winner out of a group then why not just buy the whole group?

SEEK Limited (ASX: SEK) is one of Australia's most entrepreneurial digital businesses and also one of the heaviest investors in new tech, product development, and start up or early stage ventures (ESVs) for long-term growth. In fact it's ready to wear $25 million to $30 million in ESV losses over FY 2020 such is it's commitment to sacrificing the short term for long term success. It now has an aspirational revenue of $5 billion by FY 2025 versus the $1.54 billion delivered in FY 2019, which would be an impressive result if achieved. It recently reported how it's an Australian market leader in artificial intelligence (AI) investment with a team of more than 100 specialist data scientists and software engineers building AI that learns from how candidates search job ads to better target ads for advertisers. According to SEEK the new AI has resulted in an 11% increase in job ad click through rate, a 10% uplift in candidate applications per session and 600,000 more applications per month across its platforms.