We recently published a list of 15 AI News Investors Shouldn’t Miss. In this article, we are going to take a look at where TaskUs, Inc. (NASDAQ:TASK) stands against other AI news investors shouldn’t miss.
Generative artificial intelligence has been gaining traction around the world. The latest country to embrace it is Japan. According to The Japan Times, private-sector businesses in the country have begun embracing related information technologies to enhance operational efficiency. GenAI search services, in particular, are proving useful for searching corporate databases.
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The news states how Lion, a leading Japanese consumer goods company, has built a generative AI-powered search system that allows its researchers to search through research reports and conference materials stored in the company’s database efficiently.
“To drive innovation, we need a system that allows researchers to have quick access to technical knowledge when they need it”.
– Shintaro Yamaoka, manager of the digital strategy department
Yamaoka revealed that the time required to locate a desired document has been reduced to an average of one-fifth of that with conventional search systems. The company further states that GenAI is proving beneficial not only for recruits and young employees but also for those transitioning to new workplaces, allowing them to “systematically acquire knowledge in unfamiliar fields”. Even though GenAI comes with its fair share of challenges such as hallucinations and copyright concerns, it also stands to benefit the corporate world in the long run.
In other news, one popular AI chatbot is seemingly facing a technical glitch and preventing it from saying one name in particular: David Mayer. If there is one name in the AI realm that everyone knows about, it’s ChatGPT. The artificial intelligence chatbot has been trained on large amounts of data to create content, including voices, music, pictures, and videos. However, it was recently unearthed by a Reddit user that the AI chatbot is unable to say David Mayer.
According to AI expert Justine Moore, a plausible scenario is that someone named David Mayer went out of his way to remove his presence from the internet. For example, strict privacy laws in the European Union allow citizens to file “right to be forgotten” requests.
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).
A data engineer working intently on a computer, processing complex algorithms.
TaskUs, Inc. (NASDAQ:TASK)
Number of Hedge Fund Holders: 17
TaskUs, Inc. (NASDAQ:TASK) is an AI and robotics stock and a leading provider of outsourced digital services and next-generation customer experience to the world’s most innovative companies. On December 2nd, TaskUs, Inc. (NASDAQ:TASK) and Red Points, a premium provider of AI-driven brand protection solutions, announced that they are forming a partnership that will allow them to combat fraud and intellectual property violations. The partnership will offer clients an end-to-end digital protection system, combining artificial intelligence (AI) and human talent to defend users against counterfeit items, brand impersonations, fake accounts, and irregular credentials. Such activities tend to damage a brand’s reputation as well as hamper trust and decrease customer loyalty, highlighting the need for brand protection technology to safeguard organizations.
“This partnership and digital protection service comes at the perfect time as counterfeit and IP violations are surging. We believe our extensive knowledge of the marketplace and solution pair perfectly with Red Points’ industry-leading brand protection technology. This partnership further underscores our continued commitment to helping our clients achieve business success while maintaining brand integrity.”
– Phil Tomlinson, SVP, Global Offerings at TaskUs.
Overall, TASK ranks 12th on our list of AI news investors shouldn’t miss. While we acknowledge the potential of TASK 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 TASK 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.