Artificial intelligence has been the topic de jure the past two years. As the coronavirus has pushed companies to automate work and thereby reduce infection risks, AI companies have been sailing with wind in their sails, and with fresh worries about the omicron variant, this trend looks set to continue into 2022. Below we look at five top AI stocks.
iRhythm Technologies (Nasdaq: IRTC)
iRhythm is bringing the world of big data and AI to diagnostics. The aim of which is to create something like a computer version of Dr Gregory House, the character from the medical TV show. Specifically, iRhythm has developed technology that diagnoses heart problems. The company builds wearable heart monitors that can quickly diagnose issues with patients’ heart rates.
You can’t talk about AI without talking about Californian semiconductor giant Nvidia. Nvidia makes graphics cards, which are microchips that allow multiple computer processes to be run at the same time. Its graphics cards have become the standard in machine learning, which is the core of artificial intelligence. Most recently, Nvidia has begun branching out its semiconductor business into self-driving cars, which is a promising growth area for AI.
iRobot is famous for its household robots—such as the Roomba vacuum cleaner. The ability of its robots to clean your house is getting better thanks to the company building more AI into them. Most recently, it included an upgrade that allows it to avoid animal poo. While this may play like a joke, distinguishing dog and cat poo from other kinds of rubbish is difficult for computers, which cannot smell. It’s been an important improvement.
The Swiss-Swedish robotics giant has its fingers in many AI pies. On the one hand, it builds some of the world’s best robotics systems, used in factories and trains, and these robots are increasingly powered by AI. On the other hand, it also invests, quite like a venture capital firm, in AI start-ups around the world.
Cognex (Nasdaq: CGNX)
Cognex is an American manufacturer. It builds sensors and software that gives machines eyes and brains, as it were. Cognex technology allows machines and robots to do more advanced tasks that are often done by humans, such as identify parts, detect defects, verify product assembly, and guide assembly robots. Cognex has also been developing deep learning technology. This is used to predict patterns and perform judgment-based applications. This advanced technology deploys artificial intelligence (AI) algorithms to teach robots and machines to do what comes naturally to humans: learning by example.
Access them with ROBO
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