Though artificial intelligence is in its initial stages, it has great potential and the technology is expanding rapidly. In recent years, we have seen how it is revolutionizing stock investing. It is a game changer in the field, providing investors with great insights and feature-rich tools to navigate the complex space of stock markets.
The integration of AI algorithms ensures 100% accuracy and informed decision-making which is crucial to stock investments. With such a buzz surrounding artificial intelligence stocks, inventors are looking for the top AI stocks out there.
In this article, we have listed the top Canadian artificial intelligence stocks of 2023. Here, we will give you a complete picture of the AI stocks market in Canada so that you can decide whether to invest in them.
Top Canadian AI Stocks
Based on in-depth research and analysis of the Canadian AI stock market, we have listed the top companies with the highest market cap:
1. Kinaxis
Kinaxis is a cloud-based RapidResponse supply chain management platform based in Ottawa, Canada. This company integrates both human intelligence and artificial intelligence to help businesses improve their supply chain and monitor risks and opportunities to keep up with the changes happening. It offers industry-proven applications that help supply chain professionals and businesses make informed decisions.
Kinaxis ensures better visibility and transparency and helps get rid of redundancies across the supply chain network. This platform lets companies leverage AI, machine learning, and prescriptive automation to increase efficiency and manage resources tactfully. Currently, this AI stock seems to be one that you should definitely consider.
2. Docebo
Next on the list is Docebo which is a SaaS company that offers a wide range of learning solutions to companies across the globe. Since 2015, they have been providing quality learning suites and products to businesses. They use the power of artificial intelligence to deliver innovative learning technology.
Over the years, the company has been helping businesses create engaging AI-powered learning content and connect them across all business systems using more than 400 integrations. The platform is 100% cloud, easy to use, mobile-friendly, social-enabled, and gamified. Right now, 2000+ brands across the globe are power learning with Docebo. So, Docebo appears to be a company that will have sustainable growth.
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3. Pivotree
Pivotree, which started its journey in 2019, is a leading company that helps businesses achieve frictionless commerce by supporting the design, development, and implementation of commerce solutions in a fast-growing marketplace. This platform helps design, build, and manage complex digital platforms in Data Management, Commerce, and Supply Chain.
Over the years, the company has helped 250+ world-class retail, branded manufacturers, and distributors across the globe. The services offered by Pivotree include strategic planning, implementation, support, and managed services. With its services covering many regions, Pivotree might be a good AI stock.
4. VIQ Solutions Inc.
VIQ Solutions Inc. is a renowned transcription company that blends artificial intelligence-supported voice and video capture technology and services to effectively manage digital content across different fields like legal, insurance, media, corporate finance, government, and criminal justice.
The solutions offered by VIQ Solutions Inc. will improve workflow and productivity, reduce costs, increase transcript accuracy, lower turnaround time, and ensure digital innovation. As of now, the company has provided transcript solutions to more than 4200 trusted clients with 20M+ audio minutes and 40M+ pages of documentation.
5. Fobi AI
Vancouver-based company Fobi AI is a leading tech, AI, and data intelligence leader providing businesses across the globe with real-time applications to digitally transform and improve sustainability. The solutions offered by the company include an insights portal, wallet passes, and a coupon platform.
Fobi AI’s solutions are spread across different areas such as sports and entertainment, retail and CPG, conferences and events, casino and gaming, insurance, and more. In May, the company announced an earning of 298% year-over-year. Considering its exponential growth, Fobi AI stocks seem to be worth investing in.
Are Artificial Intelligence Stocks A Good Deal?
Over the years, artificial intelligence has had transformative effects on the investment landscape. Once AI stocks gain traction, they are sure to offer great profits.
Businesses across the globe are well aware of the need to remain up-to-date and AI integration is something that cannot be neglected. That being said, AI is in its infancy and will take time to reach its peak.
Final Thoughts
So, here we have listed the top Canadian artificial intelligence stocks of 2023. Each of these companies is an expert in their respective fields and has been making huge returns every year. You can invest in any of these AI companies after carefully analyzing their business model, competitive edge, and profits acquired.
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