AI (artificial intelligence) continues to gain popularity as companies forge ahead and find new ways to advance AI systems. Companies like Facebook and Amazon have employed AI to provide things like “conflict alerts” on social media or fitness trackers that monitor the tone of a person's voice. As the conversation progresses, which AI companies should you invest in?
Not only does AI seek to perfect interactions between systems and humans, but it also seeks to elevate technical communication between humans. However, AI shouldn't be confused with robotics.
Amazon (AMZN) has made strides in AI development.
Amazon is making waves in AI development by implementing it in several Amazon products and its more recent brick-and-mortar Amazon Go stores. Amazon Go stores use AI to run stores seamlessly using facial recognition, machine vision, and machine learning.
Amazon also unveiled the Trn1, which is a way for the company to train deep-learning machines in its cloud. Trn1 is activated by a chip that the company designed. The chip has the ability to process 1 trillion calculations every second. Amazon’s Alexa is currently the third most-used virtual assistant. On Dec. 30, Amazon had a market cap of $1.727 trillion, a market open of $3,394.00, and a day range of $3,370–$3,417.76
Nvidia (NVDA) has invested in AI.
Nvidia is an American company based in California that designs graphic processing units for gaming markets and professional markets. It also provides chip units for PCs and the automotive industry. Nvidia is projected to grow into a multi-trillion dollar company due to its investment in AI.
Nvidia’s access to data through its computing hardware gives it a competitive edge in development. The company is also at the forefront of AI chip development. Nvidia held 80.6 percent of the global revenue for AI processors used in the cloud and data centers. On Dec. 30, Nvidia had a market cap of $756.449, a market open of $298.27, and a day range of $295.86–$304.57.
IBM has focused on AI applications.
IBM has developed a slew of AI applications that allow industries to amplify communication between employees and customers and receive insight from collected data. A few of the applications are:
- Watson Assistant – a communication solution
- Watson Discovery – data analytics
- Watson Natural Language Understanding – text analytics
- Watson Speech-to-Text – TTS engine
- Watson Knowledge studio – domain-based knowledge
IBM has also invested in “AI Ethics” to develop and promote the highest level of trust possible between users and AI machines. On Dec. 30, IBM had a market cap is $120.138 billion, a market open of $133.75, and a day range of $133.33–$134.37.
UiPath (PATH) has seen solid growth amid AI push.
After going public this year, UiPath released its results for the second quarter of fiscal 2022. The company’s revenue increased by 40 percent YoY to $196 million. CEO Daniel Dines commented on the company’s numbers. He said, “Our results were driven by both new customer additions, ending the quarter with more than 9,100 customers, as well as robust expansion with existing customers."
He also boasted of the company's retention rate of 144 percent. UiPath uses advanced AI machine learning in its software bots that allow them to learn from humans. Currently, 60 percent of Fortune companies are UiPath customers. On Dec. 30, UiPath had a market cap of $23.462 billion, a market open of $43.23, and a day range of $43.22–$44.98.
C3.ai (AI) is known for its AI applications.
C3.ai is a SaaS company with software that allows companies to use large AI applications. The C3.ai applications are used to streamline companies' operations, make data-driven decisions, cut costs, and increase employee safety. According to C3.ai's results for the first quarter of 2022, the revenue increased by 29 percent YoY to $52 million.
C3.ai CEO Thomas M. Siebel commented on the growth. He said that the company developed its “market-partner ecosystem” by creating a partnership with Google Cloud so that it can sell and service C3 AI applications. On Dec. 30, C3.ai had a market cap of $3.459, a market open of $31.29, and a day range of $31.17–$33.20.