We recently published a list of Top 9 Latest AI News Updates Investors Shouldn’t Miss. In this article, we are going to take a look at where Cognyte Software Ltd. (NASDAQ:CGNT) stands against other top latest AI news updates investors shouldn’t miss.
Artificial Intelligence (AI) is already transforming diverse industries, including healthcare, energy, cybersecurity, and communications by boosting productivity, enhancing engagement with clients, and significantly lowering operational overheads.
However, experts believe AI today hasn’t evolved enough to guide scientific processes. As tech giants race to launch AI co-scientist tools to help scientists develop hypotheses and research plans and unravel new knowledge, experts opined that these tools fall short of their promises.
“We’ve seen throughout history that some of the most important scientific advancements, like the development of mRNA vaccines, were driven by human intuition and perseverance in the face of skepticism,” said KhudaBukhsh, assistant professor of software engineering at Rochester Institute of Technology. “AI, as it stands today, may not be well-suited to replicate that.”
While some experts believe these tools could be a good starting point for researchers, the lack of details remains worrisome, raising questions about their potential.
“Those are things that various existing tools are claiming to do, but those are not jobs that I would personally leave up to current AI,” added Lana Sinapayen, an AI researcher at Sony Computer Science Laboratories in Japan. She believes that similar tools focus on the wrong kind of scientific legwork.
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.
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 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
An operational field team in the field, executing the company’s operational intelligence analytics.
Cognyte Software Ltd. (NASDAQ:CGNT)
Number of Hedge Fund Holders: 20
Cognyte Software Ltd. (NASDAQ:CGNT) offers investigative analytics software to governments and diverse organizations. It helps clients with actionable intelligence to accelerate and improve the effectiveness of investigations and decision-making, neutralize and overcome threats to national security, and address criminal activities.
On March 5th, Cognyte Software Ltd. (NASDAQ:CGNT) announced a collaboration with Microsoft to offer a secure and cloud-based deployment option for its decision intelligence platform, NEXYTE. The company will leverage Microsoft Azure to offer NEXYTE with flexible deployment models, enabling customers to select between on-premises and cloud-based environments based on their requirements. With Azure, NEXYTE clients gain access to advanced cloud services, like Azure AI Document Intelligence and Azure AI Vision to automatically process and analyze unstructured data and integrate insights with other data sources to accelerate analysis of complex data workflows and boost accuracy for successful investigative outcomes.
“This relationship brings cloud-based agility and innovation to the field of investigative analytics, underscoring Cognyte and Microsoft’s shared commitment to advancing AI-powered analytics. By integrating Azure’s robust AI Services capabilities, NEXYTE is positioned as a future-ready solution that enables organizations to tackle complex, data-intensive challenges with improved speed, security, and flexibility.”
-said Vinod Valloppillil, Director of Product at Azure AI.
Overall, CGNT ranks 5th on our list of top latest AI news updates investors shouldn’t miss. While we acknowledge the potential of CGNT 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 CGNT 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.