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The global artificial intelligence industry is expected to grow to $554 billion in total revenue by 2024, according to market research firm IDC. Virtually every industry is being disrupted by AI, automation, and robotics. Whether it be machine learning, smart applications, and appliances, digital assistants, or autonomous vehicles, companies that aren't investing in AI products and services, risk becoming obsolete. Countless companies stand to benefit from AI, but a handful of stocks have AI and automation as a central part of their businesses. Here are the top 10 undervalued AI stocks to buy before they shoot up in 2022.
Nuance Communications, Inc. is an American multinational computer software technology corporation, headquartered in Burlington, Massachusetts, that markets speech recognition and artificial intelligence software. Nuance Communications, Inc. provides conversational and cognitive artificial intelligence (AI) innovations that bring intelligence to everyday work and life. The company delivers solutions that understand, analyze, and respond to people – amplifying human intelligence to increase productivity and security. Its Healthcare segment provides clinical speech and clinical language understanding solutions that improve the clinical documentation process, from capturing the complete patient record to improving clinical documentation and quality measures for reimbursement.
Over the last 25 years, Tata Elxsi has been facilitating technology-based advancements. It features a wide spectrum of breakthroughs enabled by AI and analytics, from self-driving cars to video analytics solutions. Tata Elxsi's Artificial Intelligence Centre of Excellence (AI CoE) addresses the increasing demand for intelligent systems. Customers may swiftly adapt and modify the landscape using its cloud-based integrated data analytics frameworks, which feature patent-pending technologies, to get actionable insights and superior results. Over a three-year period, the stock returned 174.89 percent, while the Nifty IT provided investors a 106.55 percent return. In the fiscal year ending March 31, 2021, the company spent less than 1% of its operating revenues on interest charges and 56.1 percent on staff costs.
The Bosch Center for Artificial Intelligence (BCAI) was founded in 2017 to apply cutting-edge AI technology throughout, Bosch products and services, resulting in innovative solutions. Bosch created the technological groundwork for AI to have a real-world impact. Its research produces differentiation in six areas using data from all of Bosch's disciplines, with a focus on core AI technologies. Only 1.08 percent of trading sessions in the last 16 years had intraday drops of more than 5%. The stock earned a negative return of -15.94 percent over a three-year period, compared to 44.16 percent for the Nifty 100 index.
Kellton Tech Solutions is a Hyderabad-based information technology and outsourcing company with locations in the United States and Europe. With over 1400 people, the company generated net revenues of Rs. 7.39 billion. Kellton Tech creates cutting-edge, focused AI solutions to challenges that traditionally needed a great lot of human intellect, ranging from machine learning to deep learning. Over a three-year period, the stock returned 40.86 percent, while the Nifty IT delivered investors a 106.55 percent return. Kellton Tech Solutions Ltd., founded in 1993, is a small-cap business in the IT software sector with a market capitalization of Rs 712.75 Crore.
Happiest Minds To help organizations provide immersive consumer experiences and surpass the competition, combine augmented intelligence with natural language processing, image analytics, video analytics, and upcoming technologies like AR and VR at Happiest Minds. Happiest Minds imagine and develop the next generation of intelligent systems capable of thinking, learning, creating, and making decisions in the same way that humans can. In the fiscal year ended March 31, 2021, the company delivered an ROE of 29.62 percent, surpassing its five-year average of 23.07 percent. Happiest Minds Technologies Ltd., founded in 2011, is a large-cap business in the IT software sector with a market capitalization of Rs 13,507.78 Crore.
Zensar Technologies is betting on Artificial Intelligence (AI). The company's go-to-market strategy is now pivoting away from digital and toward disruptive AI. Zensar AIRLabs, the company's R&D department, has filed for 100 patents in the last several years and is now entirely focused on AI. Zensar announced the initial set of platforms for seven major areas last week, including sales, marketing, IT, talent supply chain, HR, collaboration, projects, and programs, to help customers create value. Over a three-year period, Nifty IT Stock returned 15.63 percent, compared to Nifty IT, which returned 106.55 percent to investors. Cyientassists companies in achieving business objectives rather than merely new tools and technologies. For self-driving cars, AI can detect changes in the real environment and update maps in real-time. Such navigation helpers can aid autonomous vehicles in fully comprehending the world around them and taking the appropriate actions to avoid collisions. Rather than simply providing new tools and technologies, it aids businesses in attaining their goals. Over a three-year period, the stock returned 24.4 percent, while the Nifty IT returned 106.55 percent to investors.
Persistent Systems Persistent turns AI and machine learning dream into reality with solutions that aid at every stage of AI and machine learning development. With a methodology that helps prioritize use cases, design platform architecture, scale model development, and operationalize models across the company, our solutions ensure that you realize successful outcomes from your AI and ML investments. Annual sales growth of 16.16 percent surpassed the company's three-year CAGR of 10.75 percent. Over a three-year period, the stock returned 208.41%, compared to 106.55 percent for the Nifty IT.
Saksoft assists customers in achieving transformational transformations through intelligent decisions, increased efficiency and productivity, enhanced customer experience, and service innovation by leveraging the critical combination of Artificial Intelligence and automation. Saksoft accelerates digital transformation and applies intelligent automation to solve business problems by combining automation and modern technologies such as RPA, machine learning, IoT, and artificial intelligence. Over a three-year period, the Saksoft shares returned 118.06 percent, while the Nifty IT provided investors a 106.55 percent return.
Oracle Financials Oracle can assist you in implementing AI in your company and IT processes. With Oracle Cloud applications and platform, as well as Oracle Autonomous Database, all operating on Oracle's Gen 2 Cloud, you can speed up automation, minimize human errors, and gain greater business insights. Only 2.35 percent of trading sessions in the last 16 years had intraday gains of more than 5%. The stock returned -11.82 percent over three years, compared to 44.16 percent for the Nifty 100.
Affle is a global technology company that offers end-to-end App Marketing solutions. Consumer platform and enterprise platform are the company's two business segments. Affle's Consumer Platform is a proprietary consumer intelligence platform that uses relevant mobile advertising to drive consumer acquisitions, interactions, and transactions.
