We recently published a list of 12 AI News Investors Should Not Miss This Week. In this article, we are going to take a look at where PowerFleet, Inc. (NASDAQ:AIOT) stands against other AI news Investors should not miss this week.
Artificial Intelligence (AI) is known to increase productivity, decrease human error, and expedite the development of human resources. The market is being inundated with new AI capabilities to solve pressing business issues, such as employee expectations. By comprehending the unique needs, desires, and preferences of each employee, AI-powered solutions assist in creating individualized employee experiences that promote engagement.
Likewise, automation of the labor market has inched a notch higher as China takes the fight to the US on game-changing artificial intelligence innovations. That’s evident with the launch of Manus, the world’s first AI agent, which operates autonomously without human intervention. Just weeks after China threatened US AI dominance by launching cost-effective AI models through DeepSeek, it moved to avert the need for human intervention on AI agents.
Manus is the new AI sensation that promises to coordinate the work of specialized assistants in the race to automate recruitment and website development tasks. In addition to managing the work of numerous expert assistants, it can execute complex, multi-step activities. It works in the background, finishing all tasks on its own and only releasing data when the outcomes are ready.
Additionally, Manus stands out for its ability to act independently and without guidance, unlike conventional chatbots like ChatGPT, Gemini, or Grok, which wait for commands. Manus heralds a new era of automation driven by AI, in which machines would help people and assume leadership and decision-making responsibilities.
HR, tech development, logistics, and customer service are just a few of the areas that this change might greatly impact. While it may result in more efficiency, it may also raise issues with unemployment and the morality of AI autonomy.
The global artificial intelligence in the human resource market was valued at $7.01 billion in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 15.94%. Due to AI integration in the various HR processes, the market is expected to reach $30.77 billion by 2034, according to a study by Precedence Research. The development of sophisticated AI solutions like Manus to assist businesses and companies in effectively managing personnel acquisition, employee engagement, and retention should accelerate growth.
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 close-up of a hand reaching out to touch a virtual animation, demonstrating the power of the company’s IoT technology.
PowerFleet, Inc. (NASDAQ:AIOT)
Number of Hedge Fund Holders: 26
PowerFleet, Inc. (NASDAQ:AIOT) is a software infrastructure company and a leader in the Artificial Intelligence of Things (AIoT) software-as-a-service (SaaS) mobile asset industry. It offers SaaS cloud-based applications data from IoT devices and ecosystem of third-party and partner applications to present actionable information for customers to increase efficiencies. The company moved to enhance workforce retention, operational efficiency, and safety on March 10, by launching advanced Unity in-warehouse solutions.
PowerFleet, Inc. (NASDAQ:AIOT) combined its AI-driven safety technology with TELUS’s extensive network infrastructure to enable real-time analytics and reliable connectivity with the new solution. The TELUS partnership should expand market reach across North America without requiring Powerfleet to build a specialized sales force. In return, the company should gain accelerated market access through its Unity AI-driven warehouse solutions.
“With TELUS’s expansive market presence and commitment to digital transformation, we can accelerate the adoption of Unity’s AI-driven safety, sustainability, compliance, and efficiency solutions across a broad range of industries. By combining TELUS’s vast customer base with our cutting-edge AIoT technology, this collaboration strengthens our abilities to drive scalable revenue growth and furthers Powerfleet as a force in AIoT-driven digital transformation,” said Steve Towe, CEO of Powerfleet.
Overall, AIOT ranks 1st on our list of AI news Investors should not miss this week. While we acknowledge the potential of AIOT 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 AIOT 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.