3 Artificial Intelligence Stocks to Buy for Monster Profits

IBM, NVDA and AMZN stock are all great bets in the artificial intelligence space

artificial intelligence - 3 Artificial Intelligence Stocks to Buy for Monster Profits

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There are a lot of big-time shifts happening in the tech space right now, from the expansion of e-commerce to autonomous vehicles and virtual reality. While investors may disagree about which of those trends is a good bet for their portfolios, artificial intelligence is one area that most believe will see exponential growth in the years to come.

3 Artificial Intelligence Stocks to Buy for Monster Profits
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Nearly every industry, from healthcare to finance and banking, is finding ways to use machine learning and AI in order to improve security, efficiency, training and even the customer experience. That means there will be plenty of opportunities for growth in the AI industry in the decade to come, so investors should be on the hunt for stocks to buy in this space.

Almost anyone who calls themselves a tech company is exploring AI in one way or another, but the stocks to buy in this space are International Business Machines Corp. (NYSE:IBM), Nvidia Corporation (NASDAQ:NVDA) and Amazon.com, Inc. (NASDAQ:AMZN).

AI Stocks to Buy: International Business Machines Corp. (IBM)

AI Stocks to Buy: International Business Machines Corp. (IBM)
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IBM has had a tumultuous few years as technology changed and the firm’s hardware offerings became antiquated.

However, that was then and this is now — it’s safe to say that IBM has successfully orchestrated a turnaround and the stock is on the upswing. The firm has done a lot of work to turn itself around over the last few years, but the most promising of IBM’s ventures is Watson, a supercomputer capable of machine learning.

Watson is able to sift through huge reams of data while constantly identifying new patterns and learning as it goes. That may sound like a pretty cool party trick, but Watson could revolutionize the healthcare industry by helping doctors make better diagnoses and using patients’ data to find new correlations between symptoms and conditions that may never have occurred to the medical community.

And healthcare is just the beginning, Watson is seen helping with security, training and even cyber-bullying.

AI Stocks to Buy: Nvidia Corporation (NVDA)

AI Stocks to Buy: Nvidia Corporation (NVDA)
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Graphics chipmaker NVDA is another smart play in the AI industry, because the firm’s processors have been touted as top of the line. NVDA’s GPUs have been praised by automakers like Tesla Inc (NASDAQ:TSLA), who are planning to use the chips in upcoming models that will have autonomous driving features.

NVDA is a good bet because the firm is not only an AI play, but it is an autonomous vehicle investment as well. The company has ingrained itself in the autonomous driving space, and as automobiles get more and more advanced, Nvidia chips will be powering those improvements.

However, self-driving cars aren’t the only catalysts for NVDA in the AI space. The firm has also seen massive revenue growth in gaming, professional visualization and its data center business. Nvidia has made a name for itself as an AI firm and the company is likely to ride the growing wave of AI potential throughout the next decade.

AI Stocks to Buy: Amazon.com, Inc. (AMZN)

AI Stocks to Buy: Amazon.com, Inc. (AMZN)
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You can’t talk about AI stocks to buy without including e-commerce giant Amazon on the list. The firm has been pouring resources into the development of its AI arm, saying it has the potential to become one of the firm’s core businesses.

AMZN’s virtual assistant Alexa is a prime example of the firm’s potential in the AI space. She boasts thousands of commands and is constantly learning the more she is used by customers. Amazon has made it a priority to improve speech recognition and Alexa is blazing the trail ahead.

Not only that, but AMZN is using its AI know-how to create cashier-less grocery stores that will allow shoppers to simply log-in to the store, put the items they want into their bags and walk out. The concept would eliminate the need to wait in line or open your wallet, instead charging customers through their Amazon account.

The best thing about AMZN’s AI developments is that the company has the resources to develop and implement them all by itself. Amazon is working on everything from floating warehouses that supply delivery drones to an all-inclusive Prime ecosystem that is able to anticipate a customer’s need before they realize it themselves. The firm’s focus on innovation in the AI space will not only benefit AMZN’s other businesses, but it will make Amazon a major player within the industry.

As of this writing, Laura Hoy was long AMZN.


Article printed from InvestorPlace Media, https://investorplace.com/2017/03/3-artificial-intelligence-stocks-to-buy-for-monster-profits-ibm-amzn-nvda/.

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