AI has picked up a lot of steam in the COVID-19 pandemic. AI companies are thriving and investors are raking in big gains on AI stocks. Some companies have become the most trusted names in AI, while other new AI companies are just starting to make their name in the marketplace.
The investment opportunities in the artificial intelligence sector are booming. In every country and continent, you will discover promising Canada AI companies, US startup, and international agencies all focusing on this technology. Check out these 13 promising AI companies to invest in now:
Company #1: IBM
IBM is a worldwide leader in developing AI tech. That’s why it’s considered one of the best AI companies to invest in now. This year, IBM is transitioning the center of its operations to making AI products. Earlier this year, IBM announced it was splitting up its management in part to focus more on cloud computing and developing AI. The moves IBM is making today is set to position them as potentially the biggest AI company in the world.
Company #2: Apple
Apple isn’t an AI company. That said, they’re responsible for a lot of the AI growth in the past decade. Every year, Apple acquires more AI firms and is in constant development of new AI technologies. Though the price-point is high, buying Apple AI stocks are a reliable investment.
Company #3: Nvidia
Nvidia has set its sights on building the fastest AI supercomputer in the world and are focusing attention on developing pharmaceutical drugs, space exploration, and weather modelling with it. As if that wasn’t enough, Nvidia is also using AI to improve video conferencing, video game consoles, and cloud-based gaming applications. An investment in Nvidia seems to be a stable bet.
Company #4: Amazon
Amazon’s been a strong adopter of AI tech, using it predominantly in its warehouse and distribution systems. There is perhaps no company that has leveraged AI and optimized existing operations by it as well as Amazon has. Their use of AI will only grow in the years to come.
Company #5: Quisitive
Quisitive is a Toronto-based digital tech consulting company that is harnessing AI in its Microsoft Solutions products. Azure, Dynamics, and Office 365 are all key services used by consumers, businesses, and stakeholders. Quisitive has the potential to become the top Microsoft Solutions provider in North America and has a rising stock to boot.
Company #6: Square
Square is a digital payment processor. They use AI to conduct credit assessments and aid in granting new loans to its customers. There are a multitude of financial services companies just beginning to examine the possibilities of artificial intelligence and machine learning. Square has the edge right now and are a stock to watch.
Company #7: Twilio
In the last three years, Twilio has grown from a value of $4 billion to $27 billion. Twilio uses AI to develop video, messaging, and voice features, incorporating these into various apps and software. Although Twilio is predicted to have some volatility and uncertainty to its stock, the corporation’s so far demonstrated a reliability that can’t be discounted.
Company #8: Alteryx
Alteryx uses AI to allow data scientists and analytics experts to collaborate on data insights and machine learning applications. Year-over-year growth for Alteryx is predicted between 20-30% until 2023. A relatively new company, Alteryx is still growing and is arguably a more attractive purchase to some than shelling out for brands that have already hit their peak.
Company #9: Alphabet
Alphabet, aka Google, is using AI in healthcare, smartphones, drones, and self-driving cars. Alphabet’s DeepMind division has continued creating new AI products and adding them to existing Google systems. The result is a conglomerate of products that could prove to be revolutionary in their respective fields.
Company #10: Blackberry
Blackberry – yes, the former smartphone maker – is one of the top AI cyber-security companies worldwide. Though their stock has taken a tumble this year and they haven’t demonstrated growth that would normally be required to be included on this list, cyber-security is set for incredible growth in the years to come. There’s a strong case to make that the Waterloo-based Blackberry is a stock waiting to boom.
Company #11: Facebook
Facebook uses AI to improve newsfeed algorithms, identify and misinformation, and create features for its wide array of apps such including Facebook, Instagram, WhatsApp, and Messenger. It remains to be seen what happens with Facebook as a platform and as a stock, though currently, the corporation’s AI Research Team continues to find unique AI opportunities.
Company #12: Microsoft
Microsoft already uses AI to support cloud computing in medicine, language, and robotics. OpenAI, the Elon Musk group, also invested $1 billion in Microsoft specifically to create artificial general intelligence (AGI), tech with equivalent intelligence and capability as human beings. Assuming they’re successful, this makes Microsoft OpenAI’s biggest partner in AI commercialization. This is what makes Microsoft an excellent AI stock buy now.
Company #13: mCloud Technologies
mCloud Technologies has been using AI to tackle energy waste, maximize energy production, and improve the health of critical energy infrastructure i.e. HVAC, wind turbines, and gas compressors. mCloud is Vancouver-based and is considered one of the best Canadian AI stocks to invest in.
