We recently published a list of 15 AI News Stories Shaking Up Wall Street. In this article, we are going to take a look at where International Business Machines Corporation (NYSE:IBM) stands against other AI news stories shaking up Wall Street.
U.S. President Joe Biden met with China’s President Xi Jinping at the APEC Summit in Lima, Peru, on November 16. According to the White House, the two reached an agreement affirming that human beings, not artificial intelligence, should make decisions about the use of nuclear weapons.
“The two leaders affirmed the need to maintain human control over the decision to use nuclear weapons. The two leaders also stressed the need to consider carefully the potential risks and develop AI technology in the military field in a prudent and responsible manner”.
-The White House said in a statement.
READ ALSO: 15 AI News You Must Read Today and 15 AI News That Broke The Internet
This agreement marks a groundbreaking step in addressing two complex and challenging topics: nuclear weapons and artificial intelligence. However, it remains unclear whether the two nations will conduct additional discussions or actions on the matter.
At the same time, Xi vowed on Saturday to work with the incoming U.S. administration of Donald Trump as he held his final talks with outgoing President Joe Biden on various topics. Xi acknowledged the “ups and downs” between the countries after Trump’s election.
“China’s goal of a stable, healthy and sustainable China-U.S. relationship remains unchanged. China is ready to work with the new U.S. administration to maintain communication, expand cooperation and manage differences.”
In other trailblazing news, there is a new artificial intelligence program developed by Washington State University. Reportedly, it can spot signs of serious diseases more accurately, and faster, than trained human researchers.
According to scientists, patients can receive the results of their mammogram or MRI within an hour. Washington State Professor Michael Skinner further reveals that the process can be done in minutes, and patients don’t have to wait hours or days for their image analysis on the MRI by their physician.
“You can take that image, run it through this type of program, and it can tell you exactly where the abnormalities are. But it (the A.I. model) would still need to be trained each time.”
– Dr. Skinner.
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).
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International Business Machines Corporation (NYSE:IBM)
Market Capitalization: $189.54 billion
International Business Machines Corporation (NYSE:IBM) is an information technology company that provides global hybrid cloud and AI, as well as consulting expertise.
On November 14, International Business Machines Corporation (NYSE:IBM) announced an innovative new partnership with UFC®️, the world’s premier mixed martial arts organization. The partnership will bring together IBM’s powerful AI and data platform called watsonX with UFC’s Insights Engine, enabling an enhanced fight analysis viewing experience for millions of UFC fans around the globe. Fans will be able to access unique insights and advanced analysis of everything from live bouts and fighter tendencies to projections of possible match outcomes and even methods of victory – all of which will be engineered to update in real-time on-screen as more live data is generated.
“Data and AI solutions like UFC Insights Engine built with IBM watsonx can offer current fans entirely new ways to connect with their favorite athletes and sports, while also building excitement among new generations of MMA fans. Leveraging watsonx and our Granite models also allows UFC to enhance its digital operations and to harness the power of its extensive library of match data – all to the benefit of current and future fans.”
– Jonathan Adashek, Senior Vice President of Marketing and Communications at IBM.
Overall, IBM ranks 3rd on our list of AI news stories shaking up Wall Street. While we acknowledge the potential of IBM as an investment, our conviction lies in the belief that some 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 IBM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.
Disclosure: None. This article is originally published at Insider Monkey.
