The world of artificial intelligence is continuing to grow, and believe it or not, now is the perfect time to buy some stocks in the industry.
As is always the case with these things, the question is: which stocks should you buy?
Well, based on the current market and where it is heading for the decade, we have three options for you that you really can’t go wrong with: Alphabet, salesforce.com, and NVIDIA.
Alphabet
This is the parent company of Google. You know, the technology juggernaut that runs just about everything on the internet? While there was some concern about how Google, who relies heavily on advertising, would be able to cope with the pandemic.
Well, while there has been some trouble for the company, it looks like their rebound from it will be fast.
As it relates to artificial intelligence, the search engine capabilities of Google is going to see big changes, but it’s the Google Cloud that is going to be the most exciting.
Google has figured out how to use their lead in other tech proficiencies and that has driven growth for their Google Cloud. Google Cloud brought in $2.78 billion in the first quarter of the year. What was once an afterthought is now becoming a major source of income. If it can sustain its trajectory as organizations continue to adapt to a digital age and put cloud-based systems to good use, these stocks could see a huge growth.
salesforce.com
Just as Microsoft once dominated the market with their Microsoft Office suite, the same kind of growth is happening for salesforce.com, as it continues to help organizations with all aspects of customer relations and data management.
The annual revenue growth for the company has never dipped below 20%, with this year’s first-quarter showing a growth of 30%.
So where does A.I. fit in? Well, built into Salesforce’s suite of software are A.I.-based insights that are run by the company’s machine learning platform called “Einstein.” It makes the entire thing easier for users and helps with decision-making. Salesforce is committed to making sure that A.I. doesn’t replace human input, but rather free up users’ time to focus on higher-order decisions.
As Salesforce continues to grow at an incredible rate, stocks may not be the cheapest option, but they are are a great option if you can afford it.
NVIDIA
For much of A.I., it’s all about the software and the hardware under the hood that helps drive it. This is where NVIDIA is leading the charge with its graphics processing units (GPU’s).
GPU power was always synonymous with video game graphics cards, but NVIDIA’s are driving forward specialized computing chips. NVIDIA’s hardware is being used for machine learning in every place, such as autonomous driving and manufacturing automation.
NVIDIA has become a part of our daily lives, and many of us have no idea. This means that their stocks are in great shape right now, though just like the others, they aren’t cheap. But given the amount of growth you can anticipate with it, it’s not a bad amount of money to spend.
All three of these stocks are great options for anyone looking to get into the game right now, and with the projected growth, they are going to be successful, most likely.
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