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 RingCentral, Inc. (NYSE:RNG) 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 enterprise user sending a text message from their smartphone, displaying the company’s messaging and SMS services.
RingCentral, Inc. (NYSE:RNG)
Number of Hedge Fund Followers: 36
RingCentral, Inc. (NYSE:RNG) provides AI-powered business communications, contact centers, video, and hybrid event services to empower organizations with conversational intelligence for better customer and employee engagement and improved business outcomes.
On March 5th, RingCentral, Inc. (NYSE:RNG) announced a partnership with cloud and fiber-based network solutions provider Cox Business to introduce next-gen communications services to clients. The partnership will combine AI-powered communications platforms with high-speed fiber connectivity on the newly-launched Cox Business Connect with RingCentral solution to help businesses improve work productivity, streamline operations, and deliver advanced customer experiences. The solution offers clients access to an enterprise cloud communications platform featuring video and audio calls, chat, SMS, and fax options in a single application. Meanwhile, the Cox Business Contact Center with RingCentral, to be launched later this year, will help businesses establish and operate contact centers by equipping them with AI-based omnichannel capabilities, AI quality management, and CRM integrations.
“At RingCentral, our mission has always been to empower businesses of all sizes with innovative solutions that transform how they communicate, collaborate, and serve their customers. By offering AI-first, cloud-based unified communications and contact center capabilities on a single, seamless platform, we unlock the true power of integrated workflows that improve efficiency and elevate customer and employee experiences. We are thrilled to partner with Cox Business to deliver AI-powered business communications solutions that help organizations modernize their systems, streamline operations, and achieve greater business outcomes.”
-said Vlad Shmunis, Founder and CEO of RingCentral Inc.
Overall, RNG ranks 3rd on our list of top latest AI news updates investors shouldn’t miss. While we acknowledge the potential of RNG 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 RNG 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.
