The S&P 500 entered a bear market on June 13, 2022, after dropping more than 20% from its all-time high in January 2021. The index has risen 6% since that fateful day, but that's well below the 20% gain it needs to qualify as a new bull market. It's unclear if a new bull market will start this year, but one of the hottest secular trends -- artificial intelligence -- could catch fire when it finally does.