We recently compiled a list of the Top 8 Must-See AI News Updates Investors Probably Missed. In this article, we are going to take a look at where CGI Inc. (NYSE:GIB) stands against the other AI stocks.
As the US and Asia, led by China, continue to make staggering advancements in AI, experts worry that Europe may fall behind as its extremely strict regulatory approach to AI puts it at risk of becoming a “museum.”
“I think we really need to step up in Europe…the American economy, Chinese economy have been growing far faster compared to the European economies over the last 20 years,” Sweden PM Ulf Kristersson told attendees of the Techarena event in Stockholm today. “If we don’t change that, Europe will actually become some kind of a museum compared to other parts of the world.”
“To be able to compete in the new geopolitical context, Europe needs to become a place where business and innovation can thrive. That means less regulation. That means more access to capital and talent,” Kristersson added. “As it stands now, we’ve got companies having troubles using the latest technology due to uncertainties with the European legislation, companies founded in Europe relocating to the U.S. due to the lack of access to capital. That is simply not good enough.”
Despite French President Emmanuel Macron’s $113.7 million investment in AI, which included commitments from UAE and Canadian investment funds, as well as European Commission President Ursula von der Leyen announcing that the EU would mobilize $208.6 billion for AI investments in Europe, US VP JD Vance said Europe is too focused on regulating AI rather than embracing its growth potential.
“To create that kind of trust, we need international regulatory regimes that fosters the creation of AI technology rather than strangles it, and we need our European friends in particular to look to this new frontier with optimism rather than trepidation,” Vance told attendees at the Paris Summit.
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 over 1000 hedge funds, as of Q4 2024.
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).
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CGI Inc. (NYSE:GIB)
Number of Hedge Fund Holders: 16
CGI Inc. (NYSE:GIB) offers IT, business consulting, automation, intellectual property, and enterprise digitization services to industries such as banking, healthcare, manufacturing, energy, insurance, and logistics. Through its responsible use of AI methodology and consulting framework in its IP portfolio, the company offers a suite of AI solutions like the CGI PulseAI, Virtual Service Agent, Accelerate AI360, DigitaTrust360, and Machine Vision for better operational efficiencies, cost reductions, legal compliance, and assets monitoring activities.
On February 20th, CGI Inc. (NYSE:GIB) announced it secured the Select partner program status from AI company Databricks, underscoring the company’s commitment to advancing data analytics and AI capabilities for its global clients. The designation builds on five years of joint innovation by CGI Inc. (NYSE:GIB) and Databricks to offer data solutions designed to speed up digital transformation for clients in the financial services, public sector healthcare, and retail sectors.
“Achieving Select status with Databricks reinforces our position as a trusted leader in cloud and AI technologies. This designation not only strengthens our service portfolio but amplifies our ability to deliver transformative data solutions, ultimately helping our clients drive meaningful outcomes through data-driven insights.”
-said Vijay Srinivasan, CGI President of US Commercial and State Government operations.
Overall GIB ranks 4th on our list of the AI stocks investors probably missed. While we acknowledge the potential of GIB 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 GIB but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stock To Buy Now and Complete List of All AI Companies Under $2 Billion Market Cap.
Disclosure: None. This article is originally published at Insider Monkey.
