AUS
NZ
UK
CA
USA
IND
.jpg)
Highlights
- Rapidly growing AI market is creating a buzz among investors.
- From 2021 to 2028, global AI market expected to grow at 40.2%.
- Best AI stocks are already using machine learning and neural networks.
Artificial Intelligence (AI) stocks have recently been creating a buzz among investors. The best AI stocks are already using machine learning and neutral networks. The global AI market has been witnessing a rapid growth, and from 2021 to 2028, it is anticipated to grow at a 40.2% compound annual growth rate to reach US $997.77 billion, according to Grand View Research. But what exactly is Artificial intelligence? Let’s briefly take a look.
Artificial Intelligence and machine learning
The simulation of human intelligence processes by machines is known as Artificial Intelligence. Also known as machine intelligence, it comprises of learning, reasoning and self-correction. AI isn’t a technology of the future, but it exists in the present, and all of us are using it in some form. Basically, AI enables machines to use experience to keep learning, adjusting to new inputs, and in turn performing human-like tasks. AI has a wide range of applications, and is majorly used in industries including healthcare, education, finance, manufacturing, law, and automotive. Let’s look at some AIM companies using or developing AI technology.
Blue Prism Group PLC (LON:PRSM)
Headquartered in Warrington, Blue Prism Group PLC is a UK-based multinational software company which has pioneered Robotic Process Automation (RPA), which provides connected RPA intelligent software that enables the automation and performance of repetitive tasks. In 2018 AI Breakthrough Awards, it was awarded the Best Robotic Process Automation (RPA) Company. With a significant market capitalisation of £1,176.19 million, the company is listed on the London Stock Exchange since 2016, and is also a constituent of the FTSE AIM UK 50 index. Its Earnings per share is -0.92 and its 1-year return is -14.45%. Blue Prism Group PLC’s shares were trading at GBX 1214.00 at 7:53 AM on 10 September 2021.
Panoply Holdings PLC (LON:TPX)
Headquartered in London. Panoply Holdings PLC is a UK-based firm that deals with the digital transformation needs of its clients. With a market capitalisation of £207.31 million, the company is listed on the London Stock Exchange since 2018, and is also a constituent of the FTSE AIM All-Share index. Its Earnings per share is -0.06 and its 1-year return is 83.61%. Panoply Holdings PLC’s shares were trading at GBX 247.50 at 8:01 AM on 10 September 2021.
Attraqt Group PLC (LON:ATQT)
Headquartered in London, Attraqt Group PLC is a UK-based company which develops and offers eCommerce site search, merchandising as well as product recommendation technology. It uses Machine Learning to create a more efficient and seamless online shopping experience. With a market capitalisation of £86.55 million, the company is listed on the London Stock Exchange since 2014, and is also a constituent of the FTSE AIM All-Share index. Its Earnings per share is -0.03 and its 1-year return is 34.38%. Attraqt Group PLC’s shares were trading at GBX 43.00 at 8:11 AM on 10 September 2021.
Ecsc Group PLC (LON:ECSC)
Headquartered in Bradford, Ecsc Group PLC is the longest running full-service cyber security information provider across the UK. It specialises in AI and 24/7/365 security breach detection. The company has a huge client base, which includes 10% of the FTSE 100. With a market capitalisation of £9.46 million, the company is listed on the London Stock Exchange since 2016, and is also a constituent of the FTSE AIM All-Share index. Its Earnings per share is -0.03 and its 1 year return is 56.20%. Ecsc Group PLC’s shares were trading at GBX 94.50 at 8:25 AM on 10 September 2021.
Renalytix Plc (LON:RENX)
Headquartered in New York, Renalytix plc is an AI-enabled in vitro diagnostics company which focuses on eradicating kidney disease, which is among the most common and chronic medical conditions across the globe. It is listed on NASDAQ under the ticker RNLX. With a market capitalisation of £633.46 million, the company is listed on the London Stock Exchange since 2018, and is also a constituent of the FTSE AIM 100 index. Its Earnings per share is -0.17 and its 1 year return is 62.36%. Renalytix plc’s shares were trading at GBX 877.00 at 8:34 AM on 10 September 2021.
