Artificial intelligence, or AI for short, is growing by leaps and bounds. From simple text-to-speech and GPT3 copywriting engines to the complex Enterprise AI, this technology doesn't seem to be slowing down anytime soon. With it also comes the potential growth in artificial intelligence stocks.
According to Grand View Research, the worldwide AI industry is predicted to reach $997.7 billion by 2028, rising at a 40.2 percent CAGR. As businesses shift to digital channels, COVID-19 has increased large enterprises' expenditures in AI.
Further, McKinsey & Company approximates that 61 percent of high-performing businesses, particularly healthcare and automotive companies, raised their spending on AI in 2020.
For the last few years, artificial intelligence stocks have been gaining momentum. This is why you should consider investing in AI stocks. The question is, which are the most favorable AI stocks that you can invest in safely?
Top 5 Artificial Intelligence Stocks in 2022
IBM stocks, which have risen in value by more than 50% since Watson was introduced in 2011There are many artificial intelligence stocks to choose from, but here are a few of the top 5 AI stocks to watch:
1. IBM Watson
IBM's Watson is one of the most well-known artificial intelligence stocks to invest in. With the development of Watson, IBM has created a question-answering computer system that can think like a human. It uses machine learning and natural language processing techniques to develop hypotheses based on massive amounts of data and checks them against well-known data sets to find accurate answers. It can also process the same information that would take humans years or even decades to do in seconds or minutes.
Watson is being used in several industries, from healthcare to finance, and it can even help you find a new recipe online. It achieved the highest score ever recorded by a computer. This was on the TV quiz show Jeopardy. It is in use by many different companies to help increase efficiency. Besides boosting AI stocks, Watson also boosted.
2. Amazon Web Services
Amazon Web Services has quickly become one of the most popular artificial intelligence stocks. It develops cloud computing solutions that allow companies to easily implement data analytics and machine learning technology into their businesses. Using Amazon Web Services, companies can create their own data centers that they can use for many different tasks, including data storage and processing. These data centers can also be used for sending emails or writing documents.
In 2016, Amazon Web Services saw a significant boost due to the fame that its acquisition of the startup Kiva Systems garnered. This acquisition will allow Amazon to add humanoid robots to its services in the future. Although there is no indication of when this will be available, Amazon may expand its AI capabilities through Kiva's technology.
Samsung is a giant in the tech industry and has been making waves with its mobile devices and AI-powered televisions. Although it doesn't have as many AI-related services as Amazon Web Services, it still ensures that artificial intelligence is a big part of its future.
In April 2017, Samsung acquired Viv Labs, an AI startup founded by the creators of Siri. This acquisition will allow Samsung to use Viv's technology and build it into Samsung's products. Samsung has already used some of Viv's features in its Galaxy S-series devices and TVs so far, and the company plans to implement Viv more fully in its products over time.
Microsoft has been one of the largest tech companies for many years now and keeps growing each year. It has expanded its reach and product line since the release of Windows XP and continually develops new products to help people in different ways.
Microsoft's artificial intelligence efforts began in 2011 when Microsoft developed a real-time translation system that could translate Skype calls between languages in near real-time. It continued to incorporate artificial intelligence features such as machine learning and automation into existing products like its Xbox system and Bing search engine.
However, it wasn't until 2016 that Microsoft released a fully functional AI platform called Azure. Microsoft made Azure accessible through its mobile operating system, Windows 10 Mobile, and it was built with vision and speech services to interact with customers through personal assistants.
Microsoft's Azure platform focuses on speech, vision, language, and knowledge services. Right now, it supports 26 languages and more than 30 tools from various partners. There are also solutions available to help boost efficiency in different industries, from retail to healthcare.
Like some other AI stocks, Microsoft is expecting significant changes in the next few years.
Like Amazon Web Services and Samsung, Apple is making artificial intelligence a big deal in its products. In 2017 alone, Apple released Siri on its new HomePod smart speaker and introduced "enhanced search" features that use artificial intelligence to answer questions using machine learning algorithms. In addition, Apple has continued to incorporate artificial intelligence features into its products, including adding a "Hey Siri" option to the microphone of its iPhone.
Apple is also looking into artificial intelligence technology that can help improve its public safety team. The tech company has been using facial recognition technology from Emotient to recognize people in public areas and increase security in various locations, including retail stores and airports. This includes scanning employees for facial recognition and tracking stolen property within the company.
With all these updates, Apple is continually making more intelligent products. Moreover, it keeps adding AI capabilities and ensuring that your phone doesn't crash or get hacked when you're out and about.
Investing in AI Stocks Is a Smart Move
These artificial intelligence stocks are perfect for investors who want to gain massive returns while investing in something new. Although it is impossible to forecast how this new technology will pan out, it is wise to try and get a piece of the action while you can.
With the current Metaverse talk all over the internet, you can rest assured that AI tech is here to stay. Better yet, it is poised to get incorporated into this virtual world too.
Are you ready to take a piece of this AI stocks pie?