The best AI companies to invest in are those successfully merging big computing with big data in practical and profitable ways
Do you know the best artificial intelligence (AI) companies to invest in? The global robotics and AI market is developing rapidly with a growing range of applications in almost every area of the economy. At the same time, though, we think select industries will lead the charge:
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Manufacturing. Next-generation robots will be increasingly capable, with vision-recognition and motion detection expected to broaden their ability to both think and do. As a result, manufacturing dependent on automation should grow from 10% in 2015 to an estimated 25% by 2025.
Military, Security, Emergency Response, Surveillance. Drones and robots will increasingly replace soldiers in conflict zones. They already lead search and rescue efforts, along with reconnaissance missions. The commercial use of drones should grow rapidly—not only for parcel delivery, and crop and pipeline inspections, but also power plant management and troubleshooting. By 2021, commercial use of drones will be an estimated 10 times that of what it was in 2016.
Medicine. Robots and artificial intelligence continue to make headway in administering patient procedures and diagnosing illnesses. The medical robots market is set to grow at a rate of 20% annually over the next few years.
Transportation. Engineers are now testing autonomous cars on North American streets. Alphabet’s self-driving technology operation, Waymo, has covered more than 32 million kilometres, with improving safety results. By 2030, autonomous cars will potentially comprise 15% of all passenger vehicles.
Agriculture. Drones and satellite-based sensors help farmers analyze crop yields, water saturation and soil fertility. Robotic farming equipment can plow fields, and sow and harvest crops. The agricultural robots market is expected to grow at a rate of over 20% for the next few years.
The best AI companies to invest in are those successfully merging big computing with big data
For example, autonomous vehicles take full advantage of artificial intelligence, which is essentially the merging of today’s big computing with big data.
Computers with artificial intelligence (AI) can improve over time using different algorithms (a set of rules or processes), as they are fed more data. They learn by recognizing trends in data that let them make decisions.
For example, designing autonomous vehicles involves building machines that learn to navigate traffic. Such a system may use pattern-recognition algorithms from which it learns, for instance, to identify pedestrians and animals. This means that it knows to brake when it sees a zebra, even if it has never encountered a zebra before.
Meanwhile, though, we think that the best way to invest in AI is through companies that already have a sound base of profitable business—business that is enhanced by the use of AI.
One such company is Alphabet Inc., which is the holding company for Google’s Internet search business and its smaller, riskier operations. The company calls those smaller businesses its “Other Bets,” which includes self-driving car technology, among other tech products.
Alphabet’s self-driving car technology business operates under the name Waymo and is one of the Other Bets under development. If Waymo begins to generate revenue, and earn a profit, Alphabet may eventually decide to set up the business as a separate firm and through a spinoff hand out shares to its investors as a special dividend.
Investors need to zero in on the top AI stocks for maximum returns
The highest form of AI, known as “deep learning,” involves inundating a powerful computer system with labelled information, and waiting for it to make connections, and categorize and sort data. In theory, it can then put new data in context using that information. Such a model is designed to replicate, to a lesser extent, the connectivity of the human brain.
Machines have already beaten the finest (human) players of poker and Go—achievements that experts had predicted would take at least another decade. Google’s DeepMind team has used AI systems to improve the cooling efficiency at data centres by more than 15%, even after they were optimized by human experts.
AI is being used by cybersecurity companies to detect viruses and malware, and by PayPal to prevent money laundering.
Investors considering artificial intelligence stocks visualize AI-equipped machines that will be able to, for example, carry on intelligent conversations without revealing they are less than human.
No doubt AI will have a greater impact on our lives as time passes. But we think investors need to exercise caution when looking for AI stocks to buy.
Use our three-part Successful Investor approach when searching for the best AI companies to invest in
Spread your money out across most if not all of the five main economic sectors: Manufacturing & Industry, Resources & Commodities, Consumer, Finance and Utilities.
Downplay or stay out of stocks in the broker/media limelight.
What industry do you consider looking into when you consider the best AI companies to invest in?
Do you think it’s too early to invest in AI technology? Or is this a potential “ground floor” opportunity?
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