We recently compiled a list of the 9 Latest AI News Updates Investors Should Not Miss. In this article, we are going to take a look at where Accenture plc (NYSE:ACN) stands against the other AI stocks.
AI is rapidly making its way into our lives, from the recent introduction of DeepSeek courses in Chinese universities to intelligent robots patrolling public places in the US for enhanced safety.
While there are countless benefits of using AI across global industries around productivity, efficiency, and adaptability, concerns about the misuse of the evolving technology continue to grow in tandem. The dual-use potential of AI has led to increased scrutiny of the technology, especially in Europe, which experts believe is imposing stringent regulations even if it means slow development across the region.
Former Google CEO Eric Schmidt warned that AI misuse poses an “extreme risk” and could do catastrophic harm because the technology could be weaponized by “rogue states” to negatively impact innocent people.
“The real fears that I have are not the ones that most people talk about AI. I talk about extreme risk…Think about North Korea, or Iran, or even Russia, who have some evil goal… they could misuse it and do real harm,” Schmidt cautioned. “My experience with the tech leaders is that they do have an understanding of the impact they’re having, but they might make a different values judgement than the government would make.”
Weaponization could range from deepfakes to autonomous weapons, which Schmidt believes can be prevented with a balanced approach that fosters innovation through appropriate regulations.
We selected AI stocks by reviewing news articles, stock analysis, and press releases. We listed the stocks in ascending order of their hedge fund sentiment taken from Insider Monkey’s database of 900 hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
A team of data experts gathered around a computer monitor analyzing customer data.
Accenture plc (NYSE:ACN)
Number of Hedge Fund Holders: 79
Accenture plc (NYSE:ACN) offers diverse services for agile transformation, data analytics, intelligent automation, AI, and software engineering. The technology company is striving to accelerate R&D and deployment of AI agents using Nvidia’s (NASDAQ:NVDA) AI offerings for faster placement of multi-agent networks for seamless integration into enterprise systems. It is also upgrading its core banking modernization capabilities via platform acquisitions, enabling data unification from legacy and modern banking architectures for product development.
On February 20th, Accenture plc (NYSE:ACN) announced that it invested in Voltron Data, which develops software to advance accelerated computing that underpins modern AI applications. The investment will enable Voltron Data to help organizations leverage advanced computing technology to expedite large-scale analytics used for GenAI and machine learning applications.
“Banks are sitting on an enormous amount of trapped data with the potential to fuel the next generation of AI-powered products and services. Through its Theseus software, Voltron Data can enable banks and others to unlock their data and then quickly move, scale and analyze it in a way that is both cost-effective and sustainable. It’s like transforming a one-lane road into a multi-lane highway.”
-said Michael Abbott, Banking & Capital Markets industry group lead at Accenture Plc.
Overall ACN ranks 1st on our list of the AI stocks investors should not miss. While we acknowledge the potential of ACN 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 timeframe. If you are looking for an AI stock that is more promising than ACN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.