We recently compiled a list of the 10 Buzzing AI Stocks Making Headlines. In this article, we are going to take a look at where PROS Holdings, Inc. (NYSE:PRO) stands against the other buzzing AI stocks.
This year, artificial intelligence played a key role in two Nobel Prizes for scientific achievement. One prize was awarded for developing the technology, while the other was for its application. These two Nobel Prize wins clarify that AI is here to stay. However, key issues such as regulations, ethical use, and other potential risks, still need to be resolved for responsible and sustainable integration into society.
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On Saturday, December 7, Physics Nobel Prize winner Geoffrey Hinton and Chemistry laureate Demis Hassabis asserted the need for strong regulation of artificial intelligence, having played a key role in their awards.
“AI is a very important technology to regulate but I think it’s very important that we get the regulations right and I think that’s the hard thing at the moment is it’s such a fast moving technology”.
-Hassabis told a news conference in Stockholm.
According to Hassabis, having jointly won the Nobel Prize with Americans David Baker and John Jumper for revealing the secrets of proteins through AI, the main issue is defining the purpose, deployment, and making sure that artificial intelligence benefits all of humanity.
In this regard, British-Canadian Hinton, considered the “Godfather of AI”, said he wished he had thought about safety earlier, reflecting his worries about how AI could potentially escalate the arms race. He gained attention last year after he left Google to warn against risks of AI outsmarting people someday, and was awarded a Nobel Prize along with American John Hopfield for work on artificial neural networks.
President-elect Donald Trump has vowed deregulation and also shared his views to rescind President Joe Biden’s executive order on AI after he takes office in January. Nevertheless, it is still yet to unfold how he will approach AI regulation in particular. Trump has already appointed David Sacks as the AI and crypto czar, showcasing his proactive stance on advancing artificial intelligence and cryptocurrency innovation.
In light of this, Axios reported that the US government has approved the export of advanced artificial intelligence chips to a facility in the United Arab Emirates as part of the company’s highly-scrutinized partnership with Emirati AI firm G42. There were concerns raised about the transfer of sensitive technology to China, and the approved export license includes strict conditions to prevent access to the facility by personnel from nations under U.S. arms embargoes or those listed on the U.S. Bureau of Industry and Security’s Entity List.
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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PROS Holdings, Inc. (NYSE:PRO)
Number of Hedge Fund Holders: 6
PROS Holdings, Inc. (NYSE:PRO) is a leading provider of AI-powered SaaS pricing and selling solutions. On December 6, the company announced it has been named a Leader in the IDC MarketScape: Worldwide CPQ Applications for Commerce 2024-2025 Vendor Assessment. The recognition highlights PROS Holdings’ strong AI leadership, unique position as an end-to-end platform with advanced pricing capabilities, and deep integration with core partners. CPQ applications are crucial for companies to configure products and services, execute pricing strategies, manage deal construction, and generate quotes for customers. In particular, they help maneuver complex B2B sales environments where the accurate customization of offerings and pricing to customer needs can greatly impact sales success and operational efficiency.
“PROS approach to CPQ is unique in today’s complex B2B sales environment, where the need for efficient and accurate sales processes has never been greater. With robust AI-driven pricing capabilities and self-service environment packing a 1-2 punch, PROS continues to drive product innovation that supports sellers’ needs as they embrace multichannel sales strategies and deliver better buyer experiences”.
-Heather Hershey, Research Director, IDC.
Overall PRO ranks 9th on our list of the buzzing AI stocks that are making headlines. While we acknowledge the potential of PRO 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 timeframe. If you are looking for an AI stock that is more promising than PRO 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.