5 Non-Blue Chip AI Stocks To Double Your Money In 2020

With technology pushing the boundaries of automation, the AI arena has witnessed significant growth, evolving from smart gadgets to autonomous driving and much more.

AI is essentially a group of technologies that enable machines to emulate human thinking. Some of the technologies included within the AI spectrum are ML, natural language processing (NLP), predictive analysis, image recognition and robotics.

AI technology is already creating revolutionary changes in the way enterprises operate. Moreover, rampant adoption of technologies like IoT and 5G present significant growth opportunity for the AI space.

The direct beneficiaries of the technology are software companies and robotic process automation industries, primarily owing to their first-mover advantage. Moreover, AI is playing a vital role in sectors like healthcare, hi-tech engineering, oil and gas as well as financial and banking sectors.

According to an insight from InvestorPlace, AI spending is likely to reach $383.5 billion by 2020. Another data from Investment U highlights that the AI market is expected to reach $208.49 billion by 2025 witnessing a CAGR of 32.6%.

AI Presents Investment Opportunities

Courtesy of strong growth prospects, companies that invest in AI opportunities have spiked interest amongst investors. Blue-chip companies such as Alphabet (GOOGL - Free Report), Microsoft (MSFT - Free Report) and Amazon (AMZN - Free Report) are already standing out as AI-intensive companies, making the technology pervasive across most of their product lines.

Nevertheless, smaller companies are also adopting AI solutions to adapt themselves with the changing digital landscape. In fact, many non-blue-chip companies are adhering to AI to reduce cost of operations, create unique offerings and attract market share.

On that note, we are highlighting some of the less commonly known stocks that have been associating themselves with AI and are likely to benefit from growth prospects ahead.

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