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Artificial Intelligence Will Change The World. Here Are The 3 Stocks With The Most To Gain.
Artificial intelligence (AI) is having a breakout moment. Thought leaders across multiple industries have noted that AI is currently at an inflection point and will change how people and organizations work from this point on.
Moreover, AI-related stocks have been some of the best performers in 2023. With that in mind, let's review three stocks these Fool.Com contributors think have the most to gain from the AI revolution: Nvidia (NASDAQ: NVDA), Upstart (NASDAQ: UPST), and Microsoft (NASDAQ: MSFT).
Nvidia has the most to gain from artificial intelligenceJake Lerch (Nvidia): To me, this choice is simple: No company has more to gain from the unfolding emergence of artificial intelligence (AI) than Nvidia.
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That's because the complex algorithms behind groundbreaking AI applications require vast amounts of computing power. Many are trained through deep learning, which requires AI neural networks to sift through unimaginably enormous amounts of data, finding patterns and drawing conclusions. To do this, the AI networks need powerful processors that can quickly perform multiple tasks simultaneously -- something at which Nvidia's products excel.
That's why Microsoft is powering its AI-powered virtual machines with Nvidia's GPUs, and Amazon's AWS has partnered with Nvidia for more than a decade for its machine learning and high-performance computing solutions.
What's more, as AI begins to move out from the cloud, Nvidia's GPUs will be called upon to facilitate this new stage. Autonomous driving will require immense processing power within vehicles to keep passengers safe. Meanwhile, the manufacturing, healthcare, and retail sectors will likely adopt non-cloud-based AI applications requiring Nvidia's products.
Accordingly, Wall Street is raising earnings estimates for Nvidia. The average estimate for current-year earnings has increased from $4.30/share in January to $4.53; next year's estimates have jumped from $5.63 to $6.05. Revenue is expected to increase by 11.5% this year and 24% next year.
In summary, the emergence of AI will be a boon to many different companies, but it's difficult to see how Nvidia won't be the biggest winner of them all.
AI could deliver real returns for this disruptorWill Healy (Upstart): Admittedly, Upstart's ability to pay off handsomely for investors revolves around the fact that it has lost so much. The bear market and struggles with rising interest rates have led to a 96% drop in its value since October 2021.
But the other factor is the growth potential of this consumer finance stock. Not only could Upstart make a comeback, but it may also change an industry through its AI-driven credit scoring system. The current leader in credit scoring, Fair Isaac Corporation, dominates the industry, with approximately 90% of lenders using its FICO score to rate borrowers.
However, Fair Isaac has not significantly changed its scoring system since its introduction in 1989, leaving it vulnerable to disruption. According to an internal study, Upstart's system led to 53% fewer defaults at comparable approval rates.
In an environment of rising interest rates, reducing defaults becomes more of a priority for banks. Also, given the power of this technology, more lenders will probably demand an AI-based solution. Such factors play into the hands of Upstart.
Indeed, interest in the platform continues to rise. The number of banks and credit unions using it has risen from 42 to 92 over the last year. Also, 778 auto dealers use Upstart's tool to evaluate car buyers seeking loans, up from 410 over a 12-month time frame.
Nonetheless, the numbers also highlight that Upstart's potential for massive gains brings with it a considerable level of risk. Only two banks account for 87% of its business. Also, rising rates have reversed revenue growth that shot into the triple digits as recently as one year ago.
In 2022, revenue grew by 1% to $849 million. But that growth ranged from a 156% yearly gain in Q1 to a 52% annual decline by Q4. Additionally, those deteriorating financials led to a loss of $109 million, down from a profit of $135 million in 2021.
Still, the declines have taken its price-to-sales (P/S) ratio to 1.5, down from a peak of 48 in the fall of 2021. That valuation and the much lower stock price could persuade investors to take a chance in the hope that the green flags for Upstart's future outweigh Upstart's risks.
AI could lead Microsoft to a new growth frontierJustin Pope (Microsoft): Everyone knows that Microsoft is one of the world's largest companies -- a conglomerate of enterprise software, cloud technology, gaming, and more. But its blooming relationship with ChatGPT creator OpenAI is starting to reap some promising rewards for long-term investors.
Microsoft added AI capabilities to its Bing search engine, which could potentially change the entire picture for the company. Rival Alphabet has dominated search for years, holding more than 90% of the global search share. That translates to approximately $160 billion in annual revenue for the tech giant. Alphabet's dominance has virtually locked Microsoft out of this highly lucrative market (Alphabet converts about 20% of its revenue into free cash flow).
Bing's resurgence is already showing some signs pointing to future growth. Microsoft CEO Satya Nadella noted on the company's most recent earnings call that Bing now has 100 million daily active users, and daily mobile app downloads have quadrupled since its launch. Even more interesting was a recent report that smartphone manufacturer Samsung was considering dropping Google for Bing as its default search engine.
Investors shouldn't get ahead of themselves -- Bing has a long way to go to become a serious threat to Google's throne. Google is the world's most visited website and has become a verb synonymous with internet searches. That mojo doesn't die overnight.
However, given Microsoft's revenue was $205 billion over the past year, becoming a legitimate competitor in the $160 billion search engine space can make a positive difference in Microsoft's overall long-term growth.
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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Jake Lerch has positions in Alphabet, Amazon.Com, and Nvidia. Justin Pope has positions in Upstart. Will Healy has positions in Upstart. The Motley Fool has positions in and recommends Alphabet, Amazon.Com, Microsoft, Nvidia, and Upstart. The Motley Fool recommends Fair Isaac. The Motley Fool has a disclosure policy.
Sofy Launches SofySense, A Generative AI-driven No-code Mobile App Testing Solution
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Software testing platform Sofy announced the launch of SofySense, an innovative mobile app testing solution that merges artificial intelligence (AI) and no-code automation. The latest offering enhances Sofy's pre-existing platform and incorporates GPT-integrated, intelligent software-testing AI technology to provide quality assurance (QA) assistance.
With the new solution, testers can concentrate on more mission-critical tasks, while Sofybot, the platform's intelligent generative AI chatbot, offers prompt and accurate responses to specific test queries. The company claims that the new product can accelerate product release times by 95%, streamlining the software testing process for software developers.
Sofy's CEO, Syed Hamid, said that SofySense's AI technology is comparable to OpenAI's ChatGPT, which can generate human-like text in seconds.
"SofySense reduces time by generating test cases; eliminating the need for research and test design; allowing test cases to seamlessly convert to automated tests instead of investing time in writing automation code; and analyzing results [in order] to surface issues," said Hamid. "With SofySense, we've enabled AI technology in a useful way, helping testers author and execute tests in seconds."
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Join us in San Francisco on July 11-12, where top executives will share how they have integrated and optimized AI investments for success and avoided common pitfalls.
Register NowSofySense builds upon the company's 20-plus years of experience and shared knowledge, to create a seamless integration of AI and low-code/no-code.
Using generative AI to streamline software developmentAccording to Sofy, the company found that software developers spend between 20% and 50% of their time on testing, which accounts for nearly a third of overall IT spending. SofySense uses OpenAI's large language models to provide advanced insights, analysis and assistance for an organization's QA needs.
With Sofy's existing feature of converting manual tests to automated tests with one click, users can now easily generate insights from all testing activity on the platform.
"Testers will no longer need to analyze test results, research all the possible test cases, implement feedback, and debug while trying to meet deadlines," Syed Hamid, founder and CEO at Sofy, told VentureBeat. "Our new product enables users to enhance their testing strategy with faster test results; augment test creations; and be able to find answers when they need [them]."
Testers can ask the integrated GPT-powered Sofybot chatbot to summarize the QA progress of their current release, highlighting device coverage and surface failures that may have occurred during testing.
Sofybot can directly read Confluence or any other technical documentation tool and generate test cases. Engineers can further use Sofy's no-code automation feature to automate their test cases. Instead of a custom reporting tool, testers can use the generative AI bot to generate clear, easy-to-understand reports.
"We are using GPT-3.5 right now to analyze results," explained Hamid. "By providing an application state-like checkout screen, SofySense uses a combination of natural language processing (NLP) and images to identify what can be tested based on over 30,000 app patterns we have seen.
"The only thing testers have to do is modify those tests or regenerate as the app functionality evolves instead of updating it manually."
Quick, efficient data-driven decisionsThe company believes that by integrating the technology into its daily workflow, its engineering teams would no longer need to spend countless hours analyzing failures and generating reports daily.
Hamid said that SofySense provides a modern way to quickly gather test results, augment test creations, and find answers to questions in one place. It streamlines testing processes while ensuring high-quality releases, making it a significant step towards true self-healing software.
Self-healing is the ability of software systems to detect and remediate issues without human intervention.
"It's more than just self-healing; it's about contextualizing tests, running tests, analyzing and reporting. Today self-healing is used only to address false positives in a test run, whereas we are enabling organizations to significantly reduce their efforts on creating, running, executing and maintaining tests," added Hamid.
Hamid said that the company's future plan is to integrate non-functional testing using generative AI.
"We are currently working on how to test for accessibility without any human intervention, which includes lots of different system variations," said Hamid. "We will also be performing security testing using Open Web Application Security Project (OWASP) guidelines in shifting security testing to the left (making changes in when, where and how to apply security best practices)."
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Telehealth App BlockAI.Care Launches AI-Powered Mobile Health Tracking Platform
© Provided by Cryptopolitan Singapore, Singapore, April 19th, 2023, Chainwire
Oraichain, a leading Artificial Intelligence-powered oracle and blockchain ecosystem supplier, announced the launch of a cutting-edge healthcare platform BlockAI.Care on its ecosystem. The comprehensive application integrates multiple, AI-powered models to provide an all-in-one platform for people to keep track of their health.
With BlockAI.Care, users have access to various health-focused AI models offered by third-party providers, making it simple to keep track of various aspects of their physical and mental well being. Aimed at people with chronic health conditions and anyone else who wants to ensure they remain fit and healthy, BlockAI.Care will provide valuable insights to users. Moreover, it serves as a vehicle for healthcare providers to promote their telehealth services, reach a wider audience of users and gain access to fresh data sources.
Staying healthy is a primary concern for millions of people all over the world, which explains why the global healthcare market was valued at almost $5 trillion in 2022, according to research by Precedence. Telehealth, virtual health and wearable health devices are an important and growing segment within that market, expected to grow to more than $893 billion by the end of 2023, the same study found. That's because Telehealth is focused on preventative care and can reduce the costs of, and the time involved in accessing healthcare professionals.
BlockAI.Care aims to accelerate the adoption of Telehealth through an open approach that aggregates and delivers multiple AI health services to end users. It implements common modules to process healthcare data and connect AI services, enabling users to create a comprehensive health profile that monitors every aspect of their wellness, while providing personalized recommendations to promote a healthier way of life.
As a healthcare superapp, BlockAI.Care offers dozens of health applications, including facial beauty scoring, a Care Bot chatbot for answering general healthcare questions, calorie tracking for weight loss and weight gain, skin condition identification and more. Each of the app's AI services can be accessed via an open-source AI marketplace, which bridges individual services to the platform, including those from BlockAI.Care and other providers.
Healthcare profiles are created through an API that makes it simple for users to connect various AI-powered health services and build a comprehensive view of their health status. While doing so, users retain full control of their healthcare data, which is encrypted and stored in a decentralized storage network called EUENO. Users therefore retain full control over who can and cannot access their private data, and can even monetize their healthcare information by sharing it anonymously with third-party providers.
BlockAI.Care provides a comprehensive range of AI healthcare services
BlockAI.Care is available to download now on both the Apple Store and Google Play Store as a mobile, AI-powered wellness application. Start using it now and take care your own health, visit the BlockAI.Care website or follow the project on Twitter, Telegram, Medium and YouTube for more updates.
Oraichain is the world's first AI Layer 1 that provides trustworthy AI solutions to other blockchains. As a partner of BlockAI.Care, Oraichain is the infrastructure and ecosystem provider. BlockAI.Care builds its platform on top of Oraichain's DINO AI Marketplace and utilizes EUENO for decentralized storage. For more information, check out Oraichain website.
ContactMr Duccontact@orai.Io
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