We recently compiled a list of the 12 AI News and Ratings Investors Probably Missed. In this article, we are going to take a look at where Amazon.com, Inc. (NASDAQ:AMZN) stands against the other AI stocks that investors probably missed.
AI is increasingly shaping diverse industries, from healthcare and website design to cybersecurity. Companies are utilizing traditional AI and generative models to improve diagnostics, customer experiences, and business efficiency. While AI offers immense benefits, it also presents new challenges, especially in securing sensitive data. As businesses continue to innovate with AI, balancing its advantages and potential risks will be crucial for future growth.
READ ALSO: 15 AI News Investors Shouldn’t Miss and Jim Cramer Discussed 10 Stocks That Can Do Well in December.
Leveraging AI Across Sectors for Enhanced Efficiency
At the CNBC CFO Council Summit on December 4, Squarespace’s Nathan Gooden, Zoetis’s Wetteny Joseph, and Varonis’s Guy Melamed shared their insights on how artificial intelligence is being integrated into their businesses. From animal health and website development to cybersecurity, these executives discussed the ways AI is improving their operations, improving customer experiences, and addressing emerging challenges. They also explored the evolving role of generative AI and its potential impact on the future of their industries.
Wetteny Joseph discussed how AI is being used in animal health, noting the integration of traditional AI in diagnostic platforms for animals, such as a system that quickly analyzes slide images to identify health issues, with potential to expand into human healthcare. Nathan Gooden highlighted the long-standing use of machine learning in the platform, and the incorporation of generative AI to simplify the website design process for customers. Guy Melamed mentioned AI’s dual impact: improving customer protection while also presenting risks, such as exposing sensitive data via AI tools like co-pilot. His company focuses on securing data and preventing unauthorized access through these AI systems.
For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among 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 customer entering an internet retail store, illustrating the convenience of online shopping.
Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 286
Amazon.com, Inc. (NASDAQ:AMZN) is a multinational tech company mostly known for its e-commerce business. It also offers a full AI stack, including custom processors and Amazon Bedrock for AI development.
On December 5, Keppel, a global asset manager, and operator, partnered with Amazon Web Services (AWS) under a multi-year agreement to collaborate on data centers, renewable energy, and AI solutions. The partnership, formalized during AWS re:Invent in Las Vegas, will see Keppel using AWS’s cloud services, including Amazon Bedrock, to advance its AI platform and operational capabilities.
Keppel will support AWS with AI-enabled data center capacity, renewable energy access, and enhanced connectivity via subsea cables like the Bifrost Cable System. It will also collaborate on sustainability efforts and develop an AI platform using AWS tools to boost efficiency and innovation in Keppel’s operations.
Overall, AMZN ranks 1st on our list of the AI stocks that investors probably missed. While we acknowledge the potential of AMZN 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 AMZN 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.