Beyond the Tech Giants: 35 Non-Tech AI Opportunities

28. Voya Financial, Inc. (NYSE:VOYA)

Number of Hedge Fund Holders: 30

Voya Financial, Inc. (NYSE:VOYA) engages in the provision of workplace benefits and savings products in the United States and internationally. The firm makes use of AI through the Voya Machine Intelligence (VMI) team, a part of the investment group of the firm that uses AI for stock selection and asset management processes. The VMI team employs machine learning to develop investment strategies that combine human insights with data-driven capabilities of AI tools. For instance, the VMI team has been focusing on AI-driven portfolios, such as the Machine Intelligence Dynamic Global Equity strategy, which aims to achieve outperformance through AI-powered insights combined with traditional financial analysis.

Voya Financial, Inc. (NYSE:VOYA) is closely followed on Wall Street. Evercore ISI recently raised the price target on the stock to $82 from $79 and kept an Outperform rating, underlining that the financial firm had announced a definitive agreement to acquire OneAmerica Financial’s full-service retirement plan business. Per the advisory, the initial view was that the deal for OneAmerica’s retirement plan business was more similar to the Voya acquisition of AGI, which has been positive, than Benefitfocus, which had been more challenging.