The artificial intelligence sector is hot, and investors are looking for opportunities to jump in — here’s a look at five artificial intelligence stocks.
Blockchain isn't the only new wave of technology that's transforming the world we live in — artificial intelligence is also taking charge as a revolutionary industry in a big, big way. Artificial intelligence stocks offer investors exposure to this growth sector.
The global artificial intelligence (AI) market was worth US$47.1 billion in 2020, and is projected to grow at a compound annual growth rate of 34.3 percent this year to reach US$291.5 billion in 2026.
According to a Research and Markets report, "The growing need to analyze and interpret burgeoning volumes of data and the escalating demand for advanced AI solutions to improve customer services are expected to fuel growth in the AI market."
Fueling growth going forward, AI solutions like deep learning, robotics, neurolinguistic programming and querying methods will be at the forefront of the AI revolution.
With the AI market poised for significant, transformative growth over the next several years, here's a look at five top small-cap artificial intelligence stocks listed on the CSE and TSXV for investors to consider. Year-to-date (YTD) performance data was gathered on October 25, 2021 using TradingView's Stock Screener and all stocks had market caps of between C$10 million and C$100 million at that time.
1. DeepSpatial (CSE:DSAI)
Market cap: C$13.97 million; year-to-date increase: 385.71 percent
DeepSpatial is first on this list of artificial intelligence stocks. The computer software-as-a-service (SaaS) company has developed and commercialized an AI-powered geolocation analytics platform which helps enterprises identify customer profiles, new markets for expansion and improve supply chain analytics in ways that cut costs and maximize efficiencies.
DeepSpatial recently signed a revenue generating agreement with India-based DFM Foods, a leader in the country's snack food market. The contract involves a geodemographic customer profiling and market expansion project.
2. Zoomd Technologies (TSXV:ZOMD)
Market cap: C$26.568 million; year-to-date increase: 63.27 percent
Next on our artificial intelligence stocks list is global marketing technology company Zoomd Technologies. The firm has developed a proprietary patented technology for media agencies and advertisers, targeting the better management of digital advertising with a focus on mobile app user acquisition. Zoomd's self-serve products are designed to provide an advertiser with a platform that uses AI, machine learning, prediction and automation technology as the basis for all user acquisition actions.
In late August, Zoomd reported that Q2 revenues increased 97 percent year-over-year, to a quarterly record of US$11.1M. Over the past year, the company has experienced growth by diversifying its customer base into industries such as fintech, gaming, entertainment, and e-commerce.
3. Certive Solutions (CSE:CBP)
Market cap: C$10.83 million; year-to-date increase: 62.50 percent
Certive Solutions' subsidiary Certive Health provides revenue cycle services and solutions to assist hospitals with the complexity of the reimbursement process and improve their financial and quality performance. The company's services are based on emerging including, data analytics, AI and fintech.
In October, Certive inked a binding Memorandum of Understanding with TechSlayers LLC, whose Red Team Suite of products provide HIPAA-compliant security solutions which safeguard health care clients from cyberattacks. "This new partnership with TechSlayers opens up a significant revenue stream for the Company, and we are excited to see such a high level of market demand for these cyber security services," said Certive CEO Tom Marreel. "Developing partnerships such as this is becoming an evolving part of our product strategy. Our goal is to ensure our partners and customers have secure and compliant IT platforms with a high level of certainty."
4. Mobilum Technologies (CSE:MBLM)
Market cap: C$56.302 million; year-to-date increase: 60 percent
Mobilum Technologies, formerly TechX Technologies, is a software technology company targeting growth sectors, including AI, blockchain, cloud and crypto. Mobile harnesses AI to creates smart contract technology and digital remittances applications.
In the spring of 2021, the company acquired CryptoBuddy, an AI crypto trading platform with a revenue-generating subscription model. Mobilum plans to rebrand it as Alt Signals.com to better reflect the company's future vision.
5. Plurilock Security (TSXV:PLUR)
Market cap: C$35.84 million; year-to-date increase: 54.43 percent
Last on our artificial intelligence stocks list is Plurilock Security, a cybersecurity solutions company using AI-driven technology to help enterprises thwart cyber attacks. The company holds multiple patents for technologies using behavioral biometrics, machine learning and continuous authentication.
In October, Plurilock announced that its wholly owned subsidiary, Aurora Systems Consulting, received a US$111,000 order from the U.S. Air Force, as part of NASA's Solution for Enterprise-Wide Procurement program, to provide a subscription renewal for threat prevention software.
Would you invest in any of these artificial intelligence stocks? Why or why not? Tell us in the comments, and let us know your top picks.
This is an updated version of an article originally published by the Investing News Network in February 2018.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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