We recently compiled a list of 15 AI Stocks on Wall Street’s Radar. In this article, we’ll take a look at where Alphabet Inc. (NASDAQ: GOOG) stacks up to other AI stocks.
Uber, the ride-hailing company that has yet to capture the AI boom, is reportedly expanding its fleet of gig workers for a new project aimed at annotating and labeling AI data . According to a report from news publication Bloomberg, the ride-hailing company has started hiring contractors for a new AI and data labeling division called Scaled Solutions. The report adds that these workers complete projects for the ride-hailing company’s internal business units, but also serve external clients, including autonomous vehicle company Aurora Innovation and video game developer Niantic. The company began recruiting contractors in countries like the United States, Canada, and India, among others.
Learn more about these developments by accessing 10 Best AI Data Center Stocks And 10 Hot AI Stocks According to Goldman Sachs.
Over the past few years, although the company has yet to launch an eye-catching AI product, it has brought AI in-house to streamline its operations. For example, the company’s AI algorithms efficiently match passengers with drivers to minimize wait times and maximize driver utilization. These algorithms predict demand, analyze traffic patterns, and estimate trip times to provide real-time trip assignments. Likewise, the company is investing heavily in AI for self-driving car technology. The AI systems in these vehicles process data from LiDAR, cameras and sensors to navigate roads, identify objects and make decisions in real time.
ALSO READ: 30 The Most Important AI Stocks According to BlackRock And Beyond Tech Giants: 35 Non-Tech AI Opportunities.
For this article, we selected AI stocks by combing through news articles, stock analyzes and press releases. These stocks are also popular among hedge funds. Why are we interested in stocks that hedge funds are piling into? The reason is simple: our research has shown that we can outperform the market by imitating the stocks selected by the best hedge funds. Our quarterly newsletter strategy selects 14 small- and large-cap stocks each quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
A laptop and a phone open to Google services on a daily basis.
Number of hedge fund holders: 160
Alphabet Inc. (NASDAQ: GOOG) is a California-based technology company that owns and operates the Google Internet search engine. On November 27, IIMA Ventures, an India-based nonprofit, announced that it had partnered with Google to boost 22 AI startups in the Asian country. According to the non-profit organization, the partnership aims to help early-stage startups harness AI to address global challenges in sectors such as health, climate, agriculture, education, inclusion financial and infrastructure.