The artificial intelligence sector is hot, and investors are looking for opportunities to jump in — here’s a look at five artificial intelligence stocks.
A Research and Markets report released in late 2017 indicates that the artificial intelligence sector was worth $1.36 billion in 2016, and is projected to grow at a CAGR of 52 percent between 2017 and 2025. According to the report, 2016 was a significant year for the industry as it marked the year AI officially became an evolving market.
Fueling growth going forward, technologies like deep learning, intelligent robots, neuro-linguistic programming and querying method will be at the forefront of the AI sector.
With the market poised for significant, transformative growth over the next several years, here we take a look at five smaller-cap artificial intelligence-related stocks for investors to familiarize themselves with.
All companies below had market caps of less than C$500 million at the time of publication and are listed in alphabetical order. If we missed an artificial intelligence stock you think should be included on this list, please let us know in the comments.
1. Diagnos (TSXV:ADK)
Market cap: C$11.26 million; current share price: C$0.06
First on our artificial intelligence stocks list is Diagnos, a data-mining and interpretation consulting services company that also designs data analytics software products.
The company’s artificial intelligence technology is applied to save lives on a daily basis through early identification of critical health issues. Diagnos’ AI and healthcare technical services range from algorithm development to data analysis to image processing.
Currently Diagnos operates in 16 countries, including Canada, the United Arab Emirates, India, Mexico, Switzerland, the US, Poland and Colombia. It has 215,667 patients under its care.
2. NexJ Systems (TSX:NXJ)
Market cap: C$37.42 million; current share price: C$1.78
Second is NexJ Systems, a firm that provides customer management solutions to companies in the financial service and insurance sectors.
The company’s solutions include customer relationship management, customer process management and customer data analytics and intelligence. Its goal is to use augmented intelligence to understand, sell to and service customers.
NexJ’s AI platform is called CDAi, and it is an analytics pre-processor that allows companies to increase the reliability and efficiency of analytics and AI initiatives.
3. ProntoForms (TSXV:PFM)
Market cap: C$38.67 million; current share price: C$0.35
ProntoForms is third on our list of artificial intelligence stocks. It provides mobile enterprise workflow solutions, but is working on AI-based applications as well. ProntoForms sees predictive analytics, voice recognition and computer vision technology as areas where AI technology can be implemented.
The company’s mobile solution helps remote workers collect data through mobile forms. It also allows them to access company data offline or online, and lets them share the results with office systems and cloud services.
4. Venzee Technologies (TSXV:VENZ)
Market cap: C$11.53 million; current share price: C$0.18
Venzee Technologies uses artificial intelligence to sync product information between retailers and retailer supply chains. The company’s Autopilot AI software receives product details from suppliers and transforms it to meet the requirements of retailers like Amazon (NASDAQ:AMZN), Shopify (NYSE:SHOP) and WooCommerce.
The company says this solution eliminates the need for labor-intensive manual entries, freeing up time and resources and thus allowing vendors to get products to the marketplace more efficiently.
5. VIQ Solutions (TSXV:VQS)
Market cap: C$23.41 million; current share price: C$0.14
Rounding out our artificial intelligence stocks list is VIQ Solutions, a company that provides cybersecurity-protected technology and service platforms for digital evidence capture and content management.
It is also working on accelerating Next Growth Driver, its artificial intelligence platform, with enhanced services for its VIQ Government, Public Safety, Medical and Judicial customers.
Would you invest in any of these artificial intelligence stocks? Why or why not?
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, Amanda Kay, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Venzee Technologies is a client of the Investing News Network. This article is not paid for content.