The traders who are competing to be the best, do not determine the ups and downs of the market. It is determined by algorithms and artificial intelligence feverishly scanning for faint signals of any potential opportunities and profit. Artificial intelligence has become so ingrained and vital in financial systems that to imagine a market operating without it is now impossible.
Currently, some new and futuristic companies in the market are providing cheap and lucrative AI stocks for every investor. AI can be used to analyze a stock with greater efficiency yielding stupendous results. According to Fortune Business Insights, the size of the global AI market is expected to increase to $202.6 billion by 2026.
The funding of venture capitalists of upstart AI companies remains brisk. Artificial intelligence is growing at a fast pace and with the number of global users rising it is sensible to invest in these lucrative stocks. Investing in AI stocks is estimated to help more than half of the population.
Here are some cheapest and the best AI stocks to invest in 2021.
1) Sonos Corp
Sonos Corporation is one of the best artificial intelligence stocks under $50. SONO jumped to 245% over the last 12 months. The company's revenue in the third quarter of 2020 came in at 339.8 million dollars. The company set a sales target of 2.25 billion dollars by the end of the fiscal year 2024.
The hedge fund industry is also using advanced AI applications in its effort to offset losses. The whole of the hedge fund industry can feel the changing financial scenario. Its reputation has been tarnished in the last decade during which its hedged returns couldn't keep up with the unhedged returns in the market indices.
2) Lantern Pharm InCorporation
The company is a clinical-stage biopharmaceutical firm that uses artificial intelligence to revolutionize medicine development. In April 2021, with its patented artificial intelligence platform RADR, the company broke records surpassing 4.6 billion data points.
RADR can recognize genomically distinct cancer subtypes, offers mechanistic insight into drug tumor interactions, and identify patient populations that may lead to new medications. Lantern pharma posted cash and cash equivalents of 19.2 million dollars in the fourth quarter of 2020.
3) ShotSpotter Inc
This company ranks ninth on the list of the best AI stocks under fifty dollars. the California -based gunshot detection company uses artificial intelligence to analyze search missions and strategize to stop violence the company is used in over a hundred city's across the United States including North Chicago, Montréal, Cancun, and Ferguson. One of the most recent AI platforms of the company is the ShotSpotter InvestigateTM the platform is an advanced case management solution designed specifically for investors and forensic managers. The companies revenue in the first quarter of 2021 came in at 15 million dollars.
4) Veritone
This company is a California-based artificial intelligence tech company that operates aiWARE a platform that transforms audio, video, and other data sources into actionable knowledge by orchestrating an evolving ecosystem of machine learning models. The platform has over 2000 customers. This includes police agencies and other conglomerates.
The company has a market cap of 578 million dollars. In the first quarter of 2021, their revenue was 18.3 million dollars. Their AI stocks and not only cheap but also reliable.
5) eGain Corporation
This is a California-based cloud software company the company uses artificial intelligence to address consumer inquiries, direct operations, and make decisions in their knowledge management software. The platform has over 900 users, mainly in the United States.
In April 2021 that the Goodyear tire and rubber Co. choose eGain corporations platforms to represent a virtual customer service. The company has a market cap of 318 million dollars and the company's total revenue in the first 2021 came in at $19.2 million. Their AI stocks are one of the best in the market.
