AI has become the new ‘shiny object,’ attracting investors’ attention. The rush began this past November when OpenAI’s ChatGPT made its debut, demonstrating in the clearest possible way how AI can change the ways computers use the data they collect and the ways we interact with them.
The sudden interest in AI has had a spiraling effect. Investors are seeking companies with greater exposure to AI, while tech firms are eager to publicize their own AI links and offerings.
Keeping a close watch on these developments is JPMorgan analyst Alexei Gogolev. He recently said, “Since Chat GPT came to the public domain, many companies rushed to highlight their AI expertise, lauding themselves as AI winners. We consulted a number of companies in our coverage, technology leaders, and went through various public information in order to analyze who are the true beneficiaries and leaders in this ecosystem.”
Gogolev goes on to make specific recommendations, suggesting tech stocks that are likely to realize strong gains from the AI revolution. Using the TipRanks database, we’ve looked up two of his picks to see what makes them stand out.
Alkami Technology (ALKT)
We’ll start with Alkami Technology, a provider of cloud-based digital banking solutions for the US financial market. Alkami has been in business since 2009, and its products allow banks and other institutions to drive their ROI through an improved digital banking experience for customers. The cloud-based platform provides enterprise customers with tools to enhance the user experience, manage large-scale data, and leverage continuous software update delivery.
The company’s tools and products are adaptable to a wide range of banking needs, from retail banking services to business and commercial financial products. Data and management solutions include customer insights and marketing automation, data cleansing, and AI-driven predictive marketing. Alkami’s ability to manage data at scale is a prerequisite for making effective use of AI; machine learning systems utilize a ‘brute force’ approach, basing AI on…
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