To paraphrase a dialogue by Will Ferrell in the movie Zoolander, the latest AI chatbot, ChatGPT is “so hot right now”. This artificial intelligence (AI) invention partakes in almost human-like chats and conversations, making Siri look outdated. Launched in November 2022 by OpenAI, it has taken the world by storm, seamlessly performing language-based tasks. This AI-based tool has given investors some food for thought and provided an impetus (along with other AI development companies) to invest in the best AI stocks in India.
The power that AI creates goes above and beyond amusing wordplay. AI provides the world with several business applications. These range from the early detection of illness and disease in the healthcare sector to data analytics performed in real-time, streamlining manufacturing. With so much potential, experts and analysts are now tagging AI with the phrase, “the thing to watch out for”. By now, investors know that AI touches every part of an individual’s daily life.
AI goes back a long way, but the developments being viewed in current times are rapid and advanced. If investors “want in” in this dynamic field which has the potential to take over life as we know it, then the best AI stocks in India are worth looking at for serious investors.
Since the field of AI is relatively nascent, investors may wonder how they should choose the best company AI stocks to invest in. Investors should realise that there is more than a single way to position a financial and investment portfolio. If they wish to take advantage of the continuous AI revolution, they can invest in companies responsible for building AI hardware, selling development tools of AI or that develop solutions related to artificial intelligence.
There are quite a few AI-based stocks in India that you can explore. Taking your choices further, you could very well invest in businesses that make use of AI to produce better goods or those involved in AI to improve marketing and create efficient working operations. Fortunately, in India, the stocks to invest in the AI domain are many and you may already know about some of these.
People often say that AI is “disrupting” the way we live and breathe, the disruption is welcome by all. At the core of the current technological flood are the fields of machine learning and artificial intelligence, and financial analysts agree that these are some key investment areas, even for the long term, to set your sights on. India is somewhat of a leader in this field as it is enthusiastic to propel itself into the next century by way of AI. India’s quick transition from a paper-oriented economy to a digital world just shows how India can be attuned to AI sooner than you think. In India, as much as you have the population to deal with, there is a vast amount of data as well. Additionally, India is digitally prepared and evidence of this can be witnessed in its flexible UPI transactions and central data storage with DigiLocker. So, without further ado, let’s get into the list of the best AI stocks for investment.
Here is the list of the best AI stocks in India today, although with further research, you may find a whole lot more:
You can safely invest in any company that belongs to the stalwart Tata Group of companies. You may find their stock prices low initially, but it's a known fact that this is one group of companies whose stock appreciates greatly in the long run. Tata Elxsi provides technology and design assistance in the AI area, among other software services like software development. The segments of support and system integration generate total computing solutions and the company is involved in broadcasting, storage, virtual reality and disaster recovery operations. The company has recently been involved in consulting in technology and product design, among other areas like 3D animation and user experience and transportation designing.
The persistent system is an Indian holding company that operates in the areas of technology and software services. Services provided are diverse, ranging from intelligent automation to cloud computing and infrastructure. With the company’s footprint in many sectors like banking and financial services, industrial operations, healthcare, telecom, life sciences and more, the parent has subsidiaries like Aepona Group Limited and Youperience Limited with a view to expansion in the future. Among AI stocks in 2023, this is a company stock to pay attention to.
The closest thing you will find in a company dealing with pure AI and machine learning technology is C3.ai. The business’s primary (and only) focus is to offer machine learning and AI solutions. Out of AI stocks to pick, this is a pure-play stock in the AI fold, without any exploration into diversified solutions in the IT sector. What makes this appealing to investors is its niche offering and the ability to grow in this field.
A technology, outsourcing and engineering solutions business, Cyient offers clients AI tools and aids in business growth in terms of AI technology. The company has already made some ten acquisitions, and projected sales are positive. On the clear path to extension, this is a company worth looking at for stock investment growth in the long term.
The best AI stocks in India may arise out of initially technology-based businesses, and Affle India Ltd. is a key contender in consumer-oriented technology solutions. The company is a provider of intelligence platforms for consumers generating conversions and recommendations via crucial mobile promotion for brands and B2C global firms. With a wide array of platforms triggered by AI and machine learning systems, this company is set on a growth path with its overseas clientele as well as a developing Indian footprint.
Other Indian companies to keep an eye on in the AI space include Kellton Tech Solutions Ltd., Zensar Technologies Ltd., Happiest Minds Technologies Ltd., and Saksoft Ltd.
Whether you are already into investing in the stock market or not, you know that AI is a vital element of life. India’s AI scenario is expanding and with new technology emerging in most products of everyday life, the sector of AI will only extend itself, globally and within India. Investing in the sector now could bring you hefty returns in the future times to come. All you have to do to go ahead with investment is do some research, open a demat account and begin your investment in the promising field of AI.