In today’s era, Artificial Intelligence is such a field of technology which is being looked upon by various organisations, in order to reduce human effort and time consumed in communicating with them. The stocks of the companies specialising in Artificial Intelligence are also seen appreciating at an exciting rate as more and more industries are adopting this technology.
Artificial Intelligence aims to deliver error-free results at a faster rate. With the arrival of AI technology, even the complex job which used to involve a lot of human effort gets streamlined and is executed with accuracy.
How Artificial Intelligence benefits the organisations?
When the company implements a matching Artificial Intelligence technology, it would be able to:
- Save its time and money. Artificial Intelligence and machine learning are associated with automation. Automation as a result of optimisation of the process leads to a reduction of time and money.
- Artificial Intelligence helps in improving productivity and operational effectiveness.
- Artificial Intelligence and machine learning enable the organisation to take better and faster business-related decision.
- Once the AI systems are set up properly, there is less likelihood of an occurrence of human error.
- Data mining is another concept within AI and machine learning. Through AI, huge data can also be easily converted into meaningful and actionable insights as per the business requirement.
- AI could help the company improve its customer service.
- AI also helps in the lead generation process.
- AI helps organisations provide Real-time Assistance.
How Could Artificial Intelligence be a risk to an organisation?
AI, no doubt helps the company in reducing human efforts and error rate, but there are also certain risks associated with the rapid development of artificial Intelligence. These include:
- There is an increase in job losses with the advent of the AI. So, the companies need to retain their employees which results in an additional cost to the company.
- To manage the AI technology, the company requires further experts to take care of these systems.
- Another challenge with AI technology is that it acts as it is programmed. AI cannot work on its own due to lack of emotions and lack of comprehending ability. It exhibits a knowledge level which is similar to that of the programmer.
- AI cannot be enhanced with experience. It might be possible that the program gets corrupted with extended use and this could have an impact on the organisation. It requires regular upgradation.
Points to remember before investing in Artificial Intelligence (AI) stocks:
- From the investors’ point of view, they should look out for companies which have exposure to huge amounts of data which, in turn, could be used to come up with various kinds of AI systems. These companies’ operations include direct contact with the end users.
- Investors could also look for those companies which are well positioned to obtain data in the near future.
In this article, we would cover three ASX listed companies which are into AI businesses.
Bigtincan Holdings Limited (ASX: BTH)
Industries that the company caters to:
- Bigtincan Hub is the AI-powered sales enablement automation platform which helps the company to work smartly and at a faster rate for the best outcomes.
- Bigtincan Zunos is a platform for training and enablement.
- Bigtincan Life Sciences helps in improving the time with engaged clients as well as prospects.
- Bigtincan Learning makes sure that the onboarding as well as learning curriculums are backed up by the best subject area knowledge that the organisation can offer.
Gooroo Ventures Limited (ASX: GOO)
Gooroo Ventures Limited (ASX: GOO) is the one company which has potential to measure how an individual thinks. Its patent-pending technology is based on the concept of neuroscience as well as artificial Intelligence. With these features, the technology can map how different people think and make choices in their lives and at their workspaces.
Core Products & Service Areas:
The company provides services in fields of human capital, marketing, career advisory and training.
Gooroo Science & Technology:
The core technology of the company utilises artificial intelligence specialities like machine learning and natural language processing. During June 2016, the company acquired ColourGrid™, a platform which follows the concept of neurosciences for examining the human mindset, working approach, contribution and alignment to an organisation as well as to the team.
What is special about GOO’s technology?
GOO’s technology is the first in the world which aims to decipher how each person thinks. It has the potential of mapping human decision-making patterns when faced with choices and challenges.
Spectur Limited (ASX: SP3)
Spectur Limited (ASX: SP3) is an Australian-based developer of security, surveillance and warning solutions driven by solar wireless camera with recording on the cloud facility. The company has the right to innovative its hardware as well as disruptive, cloud based IoT and security systems which run in Australia.
How Spectur Supports businesses?
The Spectur system comprises of solar wireless cloud recording camera which has Time Lapse and Live Surveillance features. It is capable of:
- Recording and broadcasting HD images 24/7.
- It can also provide time-lapse video for a particular time frame.
- Send out email and in App notifications within seconds of initiation.
- In case the alarm gets triggered, pre-recorded spoken warnings are issued.
- Turn on strong LED lights to brighten the region.
- Report activations immediately to a professional monitoring station.
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