10 AI Stocks That Wall Street Is Betting On

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1.  Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 339

Amazon.com Inc. (NASDAQ:AMZN) is an American technology company offering e-commerce, cloud computing, and other services, including digital streaming and artificial intelligence solutions. On March 5, health technology leader Royal Philips announced that it has selected AWS as its preferred cloud provider to advance its business transformation and deliver secure, interoperable, and data-driven healthcare.

The company will leverage AWS’s AI technology and healthcare-specific services to deliver better care, provide faster product development, and reduce infrastructure costs. Philips is using AWS AI and similar purpose-built services to reduce repetitive administrative work. It has also launched the Tasy Electronic Medical Record (EMR) AI Virtual Assistant, a comprehensive healthcare informatics solution, to capture and transcribe key conversational data between doctors and patients in real-time.

“For more than a century, Philips has been a leading innovator in healthcare and beyond. Philips has continued to be a pioneer in next-generation healthcare solutions, adopting cloud-based medical workloads and using more than 100 of AWS’s capabilities. AWS and Philips are enabling providers to spend more time with patients and deliver better care by putting AI and cloud computing to work. Together, we aim to further accelerate the digital transformation of healthcare and drive operational efficiency.”

-Colleen Aubrey, senior vice president of AWS Solutions.

While we acknowledge the potential of AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AMZN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. 

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