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NICE Ltd. (NICE) Powers Justice System with AI-Driven Evidence Management Solution

We recently published a list of Top 10 AI News Updates Taking Wall Street By Storm. In this article, we are going to take a look at where NICE Ltd. (NASDAQ:NICE) stands against other top AI news updates taking Wall Street by storm.

Escalating costs for developing bigger and more powerful artificial models has always been a big problem. Over the years, the cost of creating AI models has ranged between a thousand to million dollars, depending on complexity, project scope, and the need for specialized resources. The development of advanced and more powerful graphics processing units costing thousands of dollars has only fueled the costs.

In comes, DeepSeek, a Chinese AI startup that has shown it is possible to develop AI models without spending much. It maintains that its R1 AI model, despite being constructed at a fraction of the cost, competes with or surpasses top US AI models on various industry standards.

As the tech sector attempts to figure out how DeepSeek accomplished the feat, the fallout from the R1 launch is rapidly spreading around the world. DeepSeek’s achievements are fueling the race to develop cost-effective AI models.

Cohere is in the process of launching an AI model to conduct complicated business tasks while running on just two A100 H100 chips. It is significantly less than the number of chips required for some large models and also less than what DeepSeek’s system is thought to need. Similarly, Google has unveiled an AI model that runs on a single advanced AI chip.

Nevertheless, tech giants are still spending billions of dollars on data centres, semiconductors, and personnel. However, the latest releases also allude to a drive within the industry to create AI software that operates as effectively as possible. The fervor surrounding the Chinese startup might only hasten the development of robust, cost-effective AI models.

DeepSeek has disrupted numerous beliefs within Silicon Valley regarding the financial aspects of creating AI, the optimal technical approaches for developing the technology, and the degree of the United States’ advantage over rivals in China. For the longest time, the burgeoning AI sector has assumed that achieving superior AI heavily relies on substantial investments in advanced chips and significantly larger data centres to accommodate them.

“The release of DeepSeek AI from a Chinese company should be a wakeup call for our industries that we need to be laser-focused on competing to win,” US President Donald Trump said.

Our Methodology

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 in 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 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).

A data scientist sitting in front of a monitor to review the performance of AI-driven digital business solutions.

NICE Ltd. (NASDAQ:NICE)

Number of Hedge Fund Holders: 28

NICE Ltd. (NASDAQ:NICE) is a technology company that provides cloud platforms for AI-driven digital business solutions. It offers CXone, a cloud-native open platform, and enlightens an AI engine for the customer engagement market. The company received a significant boost on March 13 as Prince George’s County in Maryland selected one of its AI-powered solutions, NICE Justice, to enhance its prosecutorial effectiveness.

Nice Justice is to help transform how state attorneys and office staff receive, interact, manage and share digital evidence. The solution features built-in AI and automation capabilities for object detection, automated case building, audio transcription, and automation capabilities. The agreement with Prince George’s County confirms NICE’s AI-powered evidence management technology and marks a strategic expansion for the organization in the judicial sector.

Executive Vice President NICE, Chris Wooten, commented, “Achieving justice for victim’s hinges on uncovering the truth. However, finding that truth can be elusive without a centralized location to gather and assemble complete digital evidence. Our AI-powered NICE Justice optimizes digital evidence management by incorporating AI, analytics, and workflow automation. This platform provides attorneys with a single, secure, and efficient place to manage, locate, connect, and share digital evidence to uncover the truth and prosecute cases effectively.”

Overall, NICE ranks 6th on our list of top AI news updates taking Wall Street by storm. While we acknowledge the potential of NICE 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 NICE but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires

Disclosure: None. This article is originally published at Insider Monkey.

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Should I put my money in Artificial Intelligence?

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He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…