Artificial intelligence could be the most significant technological leap forward since the internet more than 20 years ago. But for many, it's still an ambiguous term lacking real-world specifics.

At the same time, semiconductor company Nvidia (NVDA 2.63%) has become one of the hottest AI stocks, nearly doubling in price since January as AI picks up momentum in the market.

Why? Nvidia is the world's leading company in discrete graphics processing units (GPUs) -- chips specializing in heavy computing workloads. AI requires immense computing power to process billions of data points, making the two a natural fit.

What does AI mean for the world around us? Here are five industries that could impact everyday human life and drive demand for Nvidia's products for years to come.

#1: Automotive

Nvidia's DRIVE platform offers hardware and software development tools for automotive companies to develop self-driving technology. The company's business pipeline is worth $14 billion, spanning six years, and features some of the industry's most prominent brands like Volvo, Mercedes-Benz, Hyundai, and Jaguar. It also has growth exposure from emerging upstarts like Nio, Xpeng, Lucid, and Cruise.

According to Mordor Intelligence, the autonomous car market could grow by an average of 22% annually through 2027, hitting roughly $80 billion. That number could grow much larger in the years beyond if self-driving technology becomes a staple in transportation.

#2: Healthcare

Scientists have only begun to make real inroads into genetic data in recent decades. Human DNA is like a roadmap of how life is built, and understanding it could help treat and cure the world's diseases. But DNA is amazingly complex; take the DNA in one human cell and lay it out, and it'll stretch two miles. Lay out all of the DNA in one person and it would stretch across the solar system twice over.

You can think of DNA as data, which positions Nvidia to play a big role in crunching DNA information to aid drug discovery, genomic mapping, and more. The company has created Nvidia Clara, a computing platform tailored to the healthcare sector to capture this opportunity.

#3: Services

The old Hollywood stereotype of machines taking over has a kernel of truth in the corporate world. Companies, especially in service industries like fast food, are starting to implement AI to reduce their need for human labor and cut costs. For example, McDonald's recently experimented with a fully automated restaurant in Texas. Additionally, Wendy's recently began implementing ChatGPT-powered screens to take drive-through orders.

Technology like this runs on cloud platforms that Nvidia is partnered with, such as Alphabet's Google Cloud and Microsoft's Azure. IBM's CEO recently discussed his belief that AI would replace thousands of jobs inside the company. This trend could continue growing as AI becomes increasingly advanced, and it's something investors should keep an eye on.

#4: Generative AI

Language models like ChatGPT have made the most immediate impact on technology. AI technology like this can generate responses for queries in a conversation-like manner, as well as create images based on user input. You're already seeing this with Microsoft's revival of the Bing search engine. You could soon see more generative AI integrated into Google search as Alphabet protects its golden goose, its search engine business.

There's a good chance you'll see generative AI work into many existing products and services. Learning company Chegg is introducing CheggMate, an AI tool to complement its current service. And companies like Adobe can utilize AI as part of their creative tools to help users generate content.

#5: Data centers

AI requires vast computing power, which will likely consolidate in data centers. Nvidia has a platform that it can rent to enterprises that will pay for a portion of its computing power. One could imagine it as computing-as-a-service. Additionally, deep-pocketed companies are using Nvidia's chips to build their own computing resources, including OpenAI (the creator of ChatGPT), which has trained its products on Nvidia GPUs.

Nvidia's market leadership makes it a likely choice for companies building these supercomputers, which will continually demand newer and better chips as AI advances and demands more computing power.