Introduction:
Artificial intelligence, or AI, has taken the world by storm and has been coined as the next industrial revolution. It is transforming the way we live, work, and interact with each other. The AI industry is expected to grow significantly in the coming years, and thus, investors are keeping a close eye on the top AI stocks to watch in 2021.
The Rise of AI Stocks:
The growth of AI stocks has been fueled by advancements in technology and the need to scale operations faster while reducing costs. We are seeing AI being adopted in various industries, such as healthcare, finance, and manufacturing. The high potential of AI technology has given rise to companies providing AI products and services.
Companies such as Alphabet (Google), Microsoft, and Amazon have been investing heavily in AI research and development. According to Statista, the AI market is expected to grow from $28 billion in 2020 to $126 billion by 2025, which is an astonishing CAGR of 35%. With such growth prospects, investors are keen on identifying the top AI stocks to watch in 2021.
Top AI Stocks to Watch in 2021:
1. Alphabet Inc. (GOOGL): Google’s parent company is one of the leading players in AI research and development. Its AI-powered search engine, Google search, is already a household name. The company is also working on developing AI-powered products such as Google Assistant, Nest, and Waymo self-driving cars.
2. Microsoft Corporation (MSFT): Microsoft has been at the forefront of AI research and development, with its Azure platform offering AI-powered services for businesses. The company’s AI capabilities are also seen in its virtual assistant, Cortana, and its healthcare initiative, Microsoft Healthcare.
3. NVIDIA Corporation (NVDA): NVIDIA Corporation is a leading provider of graphics processing units (GPUs) used for AI and machine learning. Its chips are used in data centers and autonomous vehicles. NVIDIA’s GPUs are also used to train AI models.
4. Amazon.com Inc. (AMZN): Amazon.com is a dominant player in e-commerce and has been investing in AI for its online marketplace. Its AI-powered virtual assistant, Alexa, is already being used in many households. Additionally, the company uses AI to improve its logistics and operations.
5. Intel Corporation (INTC): Intel Corporation is another leading provider of processors for AI and machine learning applications. Its latest processors, including the 11th Gen Intel Core processors, are designed specifically for AI workloads. The company’s AI capabilities are also seen in its AI-powered drone technology.
Conclusion:
The AI industry is poised for growth, and investors are taking notice. Companies at the forefront of AI research and development are likely to see significant growth in the coming years. The top AI stocks to watch in 2021 are Alphabet Inc. (GOOGL), Microsoft Corporation (MSFT), NVIDIA Corporation (NVDA), Amazon.com Inc. (AMZN), and Intel Corporation (INTC). These companies are leveraging AI to improve their products, services, and operations, making them excellent investment opportunities. Investors who embrace AI for its long-term growth potential are likely to see substantial returns in the years to come.
