ETF Securities' top AI stock calls for 2022
Artificial intelligence has been the "topic du jour" for the past two years.
As the coronavirus has pushed companies to automate work and thereby reduce infection risks, artificial intelligence companies have had the wind in their sails. And with fresh worries about the Omicron variant, this trend looks set to continue into 2022.
Below we look at five top AI stocks.
iRythm Technologies (Nasdaq: IRTC)
iRythm is bringing the world of big data and AI to diagnostics. Management aims to create something like a computer version of Dr Gregory House, the namesake character of the popular medical TV show. Specifically, iRythm has developed technology that diagnoses heart problems, including wearable heart monitors that can quickly identify issues with patients’ heart rates.
Nvidia (Nasdaq: NVDA)
You can’t talk about AI without talking about semiconductor giant Nvidia. The Californian company makes graphics cards, which are microchips that allow multiple computer processes to be run at the same time. Its graphics cards have become the standard in machine learning, which is the core of AI. Most recently, Nvidia has begun branching out its semiconductor business into self-driving cars, which is a promising growth area for the technology.
iRobot (Nasdaq: IRBT)
iRobot is famous for its household robots – such as the Roomba vacuum cleaner. The ability of its robots to clean your house is getting better thanks to the company building more AI into them. Most recently, it included an upgrade that allows it to avoid animal poo. While this may play like a joke, distinguishing dog and cat poo from other kinds of rubbish is difficult for computers, which cannot smell. It’s been an important improvement.
ABB (SIX: ABB)
The Swiss-Swedish robotics giant has its fingers in many AI pies. On one hand, it builds some of the world’s best robotics systems, used in factories and trains, and these robots are increasingly powered by AI. On the other hand, it also invests, quite like a venture capital firm, in AI start-ups around the world.
Cognex (Nasdaq: CGNX)
American manufacturer Cognex builds sensors and software that gives machines eyes and brains, as it were. Cognex technology allows machines and robots to complete more advanced tasks often performed by humans, such as identifying parts, detecting defects, verifying product assembly, and guiding assembly robots. Cognex has also been developing deep learning technology. This is used to predict patterns and perform judgement-based applications. This advanced technology deploys AI algorithms to teach robots and machines to do what comes naturally to humans: learning by example.
Access them with ROBO
For those wanting to buy AI stocks such as these. The ETFS ROBO Global Robotics and Automation ETF (ASX: ROBO) offers a solution. ROBO invests in companies with the purest exposure to the robotics, automation and artificial intelligence (RAAI) revolution.
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Kanish Chugh is responsible for distribution covering sales and marketing strategy for institutional, intermediary and retail clients. He joined Global X ETFs Australia in 2015 and has previous experience with Fidelity International, BlackRock and...
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