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release date: June 8, 2023
Artificial intelligence is captivating the audience. It’s the talk of the boardroom and around the dinner table everywhere. There has been a lot of hype around AI in recent months. In fact, according to UBS researchers, ChatGPT is the fastest growing consumer application of all time.
There’s been a lot going on all too quickly, and so is AI regulation. OpenAI CEO Sam Altman recently appeared in Congress and called for regulation of the technology.
With growing interest, companies are looking to leverage AI by embedding it into their workflows and products. Technology companies provide AI hardware, software, development tools, and efficiency gains. This can lead to AI wash when companies overemphasize the role AI plays in their product offerings. But it can also lead to innovation.
Innovation is key when evaluating investment opportunities. It has the potential to disrupt industries, create new markets and drive growth, all of which are attractive to investors looking for high returns.
18 companies listed on the stock exchange innovate with AI
Here are some stock-traded companies that are innovating with AI today.
- Adobe (ADBE). Adobe’s stock image library accepts content created with generative AI technology and also offers its own art generator called Adobe Firefly. Adobe is also building AI into its Experience Cloud services for marketing and analytics.
- Alphabet (GOOGL). In addition to being the parent company of Google, Alphabet Inc. recently released an AI-powered chatbot named Bard. Google also offers other AI-related products, services and research initiatives. At Google I/O 2023, Alphabet demonstrated how generative AI is added to Workspace and Android devices.
- Amazon (AMZN). AWS has several AI and ML services, This includes Rekognition for facial recognition, Comprehend for textual insights and relationships, and SageMaker for building large-scale ML models. Amazon also uses AI in its e-commerce service Amazon.com and the Alexa voice assistant. Now Amazon is eyeing AI-infused drone deliveries.
- Baidu (BIDU). Baidu is the second largest search engine in the world after Google and operates the top search engine in China. The company touts several other services, including a map service, an online encyclopedia, a cloud storage service, and his AI-powered chatbot named Ernie Bot.
- C3 AI. C3 AI is an enterprise AI application software company that offers a suite of generative AI products for predictive insights. C3 provides industry-specific software for finance and oil. The Generative AI application is a standalone product, but is integrated with other C3 applications such as C3 AI ESG, C3 AI Readiness, and C3 AI Supply Network Risk.
- DocuSign (DOCU). E-signature software providers use AI to analyze and extract contract information and have AI-powered digital identity verification capabilities. This allows the company to comply with EU and UK regulatory requirements for qualified electronic signatures.
- IBM (IBM). The Watson product suite includes AI and ML services to predict outcomes and automate workflows. IBM’s Watson Studio also enables enterprise customers to create and extend enterprise AI products. Watsonx is IBM’s platform for training foundational models and enterprise-scale generative AI.
- Intuit (INTU). Financial software platform uses AI to improve customer experience during tax preparation, aid compliance and decision-making. Intuit has a large collection of unique data that could potentially be used to drive AI efforts in the future. Intuit also holds approximately 700 AI-related patents.
- meta (meta). Meta owns Facebook, Instagram, and WhatsApp, all of which use AI to parse and organize data about user relationships, preferences, and behavior on the Meta platform. AI is also used in the recommendation engine. Meta also created an open-source large-scale language model named Llama.
- micron (MU). Micron makes the memory and storage hardware that powers AI systems. Microns products are used in self-driving cars and data centers. It also manufactures machine vision and computer vision products for monitoring semiconductor manufacturing processes.
- Microsoft (MSFT). The company has developed several AI-powered tools, including Azure AI for developers and Cognitive Services APIs for adding intelligent capabilities to apps. Microsoft Bot Framework for building and deploying AI chatbots. The company has released its own AI chatbot, Bing AI, for the Bing search engine running on GPT-4. Microsoft recently released Jugalbandi, a generative AI-driven chatbot, in India. The chatbot supports over 20 official languages and comes in many variations.
- NVIDIA (NVDA). Nvidia Corp. makes high-performance graphics processing units that power AI. Nvidia also offers APIs for high-performance computing and data science, and system-on-his chips for the automotive market. There is also a suite of AI-powered software development kits called Nvidia Maxine.
- Oracle (ORCL). Oracle is a cloud computing company that develops and sells database software and technology. Oracle Cloud Infrastructure helps developers add AI to their applications. Oracle has also partnered with Nvidia.
- Palantir (PLTR). Palantir is developing Gotham, an AI-powered government platform to find patterns in data to identify and respond to terrorist threats. Palantir also offers an AI-powered data mining platform that enables companies to streamline processes and manage enterprise data. Gotham helps you replenish and optimize your retail supply chain.
- Snowflake (SNOW). This data warehousing company designed a platform to support ML- and AI-driven data science applications. Data platforms store, analyze, and share large amounts of structured and unstructured data. This is especially useful for real-time video streaming data.
- Sound Hound (SOUN). This voice and voice recognition company offers a multimodal AI platform that integrates voice, image and touch. It features a voice-enabled digital assistant, a music recognition mobile app, and a developer platform.
- Taiwan Semiconductor Manufacturing (TSM). Taiwan Semiconductor Manufacturing manufactures the chips needed to power many technologies, including mobile phones and electric vehicles. Many of the technologies using TSMC chips also use AI. TSMC bills itself as the world’s dedicated semiconductor foundry.
- Tesla (TSLA). Tesla is an electric vehicle manufacturer that owns a large amount of driving data. Having your own dataset at scale means that companies can use AI because they provide their own product with their own training set, and other companies with their own data set to train their models. help you succeed in
Increased AI development and investment raises safety concerns.learn about 8 Concerns About Generative AI It plagues today’s AI companies and thought leaders.
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