Three Artificial Intelligence Stocks Currently Worth Buying

AI stocks

As one of the most intriguing technologies in today’s world, Artificial Intelligence has a diverse range of use cases and opens up a wealth of possibilities. Businesses employ machine learning to boost productivity. AI has also given way to countless new opportunities for consumers in the financial sector. Additionally, self-driving cars that use AI technology may transform transportation as we know it.

From now until 2028, the worldwide AI market growth is projected to increase at a CAGR of 40.2%, and this translates to investment opportunities for everyone interested in using this exciting technology. Now that more and more companies are using AI in some form, the market’s overall growth has been bolstered by secular trends. If you’re interested in owning firms that are the leaders in AI, you are more than likely to benefit in the long run.

For this reason, we have assembled a list of Artificial Intelligence Stocks with high profit potential. Let’s have a closer look at it.

1 . Tesla

It is a fair bet that fully autonomous cars will soon become a regular sight on roads all across the globe, thanks to how AI has transformed the automotive sector. Tesla (NASDAQ: TSLA) is spearheading this trend because the electric car manufacturer is developing and deploying self-driving solutions on an unprecedented scale. The company isn’t just leveraging the power of AI to bring autonomy to the vehicles it produces. It is also extending AI’s use to robotics and other divisions. The CEO of Tesla, Elon Musk, recently held a promotional Tesla AI Day event to talk about some futuristic applications of AI that the business is considering to adopt.

In the event, Musk also shared information on D1, a special AI chip with which the company’s self-driving system would get an upgrade in its machine learning algorithm. This may be a significant breakthrough in making autonomous vehicle technology as good as human-driven cars, and it is definitely something to keep an eye on. All in all, buying shares of Tesla is a smart way to show support for renewable energy and to benefit from the growth of one of the world’s fastest-growing electric car businesses.

2 . Amazon

Amazon (NASDAQ: AMZN) is well known for its e-commerce platform, which has forever changed how consumers buy things while creating a plethora of money-making possibilities for third-party vendors. Amazon has used AI in many different, innovative ways, which makes it an interesting investment. The business uses machine learning to better serve consumers, increase the efficiency of its logistics, and even provide product suggestions by analyzing users’ search patterns.

One of the company’s fastest expanding business divisions is Amazon Web Services, which enables different corporations to leverage Amazon’s state-of-the-art IT infrastructure and AI services. AWS reached $14.81 billion in the second quarter with impressive year-over-year revenue growth of 37%. The use of AI can also be seen in Amazon’s tangible products such as its Echo Dot & Alexa devices with acoustic event detection allowing for certain sounds to automatically trigger every time the devices notice the occurrence of a particular event. Analysts view this stock as one with more than 20% upside presently, which further strengthens the argument that this is one of the most compelling Artificial Intelligence Stocks you could find today.

3 . Upstart Holdings

For a clear illustration of how Artificial Intelligence has the potential to disrupt virtually any sector, take a look at this firm. With Upstart Holdings’ (NASDAQ: UPST) new cloud-based artificial intelligence lending platform, both originating and servicing loans may be streamlined at every step of the process. Most people in the United States have not defaulted on a credit product, yet half of the population lacks access to prime credit. Upstart Holdings may be able to change that by skipping the use of FICO-based credit scoring to reduce the length of the credit approval process for customers.

The company’s AI platform has earned the respect of banks and institutional lenders since it lowers their risks and expenses. Customers on the other hand like how fast they can be authorized for a loan and get their money. As loan repayment and default data become available on a regular basis, the system’s accuracy improves perpetually. After the Q2 results release that saw Upstart post sales of $194 million, with a 1,018 percent increase year-over-year, the stock has become a real force to reckon with. This is a business with strong AI that is certainly worth keeping on your radar. Watch the stock for drop buying chances in the coming few days.

We hope that this article was able to provide you useful insight into some of the most promising Artificial Intelligence Stocks. To read more informative articles, check out our latest blog posts. You can also view our latest videos by subscribing to our Youtube channel.

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By Fool Co, August 7, 2022
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