9 AI News Updates Investors Should Not Miss

1. Lowe’s Companies, Inc. (NYSE:LOW)

Number of Hedge Fund Holders: 70

Lowe’s Companies, Inc. (NYSE:LOW) is a home improvement retailer that offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances for seasonal and outdoor living. On March 5, the company affirmed its push into conversational AI with the launch of Mylow, its first AI-powered home improvement virtual advisor.

Developed in partnership with OpenAI, Mylow is designed to provide real-time answers to home improvement questions. It will also provide project guidance, complementing more than 300,000 associates. With the ability to customize suggestions according to location and budget, the AI assistant can assist clients in locating and acquiring the right equipment and supplies.

“The development and introduction of Mylow exemplifies the tech-forward vision of the Lowe’s brand,” said Lowe’s Senior Vice President of Technology, Chandhu Nair. “We’re doubling down with emerging technology collaborators like OpenAI to solve problems for our customers and because we want the home improvement experience at Lowe’s to be a cut above.”

While we acknowledge the potential of Lowe’s Companies, Inc. (NYSE:LOW) as an investment, our conviction lies in the belief that 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 LOW 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 Complete List of 59 AI Companies Under $2 Billion in Market Cap.

Disclosure: None. This article was originally published at Insider Monkey.