We recently compiled a list of 20 AI news stories that have been making waves on the internet this month. In this article, we’ll take a look at how Intel Corporation (NASDAQ:INTC) stands compared to other AI stocks that have taken the internet by storm this month.
AI is transforming industries and reshaping the world by increasing efficiency, driving innovation, and opening new economic opportunities. A recent report from McKinsey estimates that AI could have an annual impact of up to $4.4 trillion on the global economy by 2030. The rapid growth of AI technology, particularly generative AI, is enabling organizations to streamline processes, automate complex tasks, and develop personalized services. In healthcare, AI is revolutionizing diagnosis and treatment. For example, AI-powered diagnostic tools developed by Google Health match or exceed the accuracy of human doctors in detecting diseases such as cancer. These advances will reduce diagnostic errors and improve patient outcomes. Gartner predicts that by 2025, 50% of healthcare providers will invest in AI-driven technology to improve patient care, highlighting the potential for significant growth.
To learn more about these trends, visit 33 Most Important AI Companies to Watch and 20 Industrial Stocks Already Riding the AI Wave.
Financial services are also being transformed by AI. According to PwC’s 2023 report, AI could increase global GDP by up to 14% by 2030, with financial services being the main driver. Banks and fintech companies are leveraging AI to improve fraud detection, streamline customer service through AI chatbots, and provide personalized investment advice. Manufacturing is another sector experiencing rapid change due to AI. AI-powered robots are automating production lines, reducing human error and increasing efficiency. According to the International Federation of Robotics (IFR), global sales of industrial robots are expected to reach $31 billion by 2025. These robots, combined with AI-driven predictive maintenance systems, reduce downtime and operating costs for manufacturers. For example, Tesla is using AI at its Gigafactory to streamline the production of electric vehicles, aiming to improve sustainability and reduce manufacturing costs.
The retail industry is deploying AI to optimize supply chains and improve customer experience. AI-driven recommendation systems, such as those used by Amazon and Alibaba, have significantly increased customer satisfaction by providing a personalized shopping experience. A report from Forbes suggests that AI could reduce forecast errors in supply chains by 50%, allowing retailers to better meet consumer demand. However, as AI adoption increases, so do concerns about job losses. The World Economic Forum estimates that by 2025, AI will not only replace 85 million jobs but also create 97 million new roles, especially in areas such as AI development, data science, and cybersecurity. . This transition will require workers to adapt and reskill to remain relevant in an evolving job market.
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To learn more about these developments, visit BlackRock’s 30 Most Important AI Stocks and Beyond the Tech Giants: 35 Non-Technology AI Opportunities.
our methodology
In this article, we looked at news articles, stock analysis, and press releases to select the most important AI news. These stocks are also popular among hedge funds.
Why are we interested in stocks that hedge funds invest in? The reason is simple. Our research shows that by mimicking the top stock picks of the best hedge funds, you can outperform the market. Our quarterly newsletter strategy selects 14 small- and large-cap stocks each quarter and has returned 275% since May 2014, outperforming the benchmark by 150 percentage points (Learn more ).
A technician who solders parts on a semiconductor board.
Intel Corporation (NASDAQ:INTC)
Number of hedge fund holders: 75 people
Intel Corporation (NASDAQ:INTC) sells leading technologies for smart devices. A number of Intel’s rivals have reportedly made bids to buy parts of the chip maker’s business as it seeks to turn it around. Companies considering possible investments in Intel include Broadcom, Qualcomm and Apollo Asset Management. Meanwhile, Intel Corporation (NASDAQ:INTC) continues to pursue government contracts and financing, announcing earlier this month that it had been selected for a multibillion-dollar contract with Amazon to manufacture chips for the U.S. government. did. Analysts have urged Intel to exit the foundry business, but a potential deal in this regard faces regulatory issues.
INTC ranks 16th overall on our list of AI stocks that broke the internet this month. While we acknowledge INTC’s potential as an investment, we believe some AI stocks are more likely to deliver higher returns and do so in a shorter period of time. If you’re looking for AI stocks that are more promising than INTC but trade at less than 5x earnings, check out our report on the cheapest AI stocks.
Read next: $30 trillion opportunity: 15 humanoid robot stocks to buy, according to Morgan Stanley and Jim Cramer, says NVIDIA has ‘become a wasteland.’
Disclosure: None. This article was originally published on Insider Monkey.
