The Artificial Intelligence (AI) sector thrived despite the Covid-19 pandemic. In a 2020 Deloitte study, 68 percent of respondents said they had invested more than $20 million. Artificial Intelligence is one of the world’s fastest-growing markets, with an annual revenue growth rate of more than 20%. The companies that are leading the push in AI investments are Facebook, Inc. Common Stock and Microsoft Corporation. The autonomous AI ethical research center was launched in 2019 by Facebook and the Technical University of Munich. Microsoft Corporation’s revenue is expected to reach $143 billion in 2020. Companies that rely on digital ads, according to Citigroup, should exercise care. Although advertising expenditures are projected to continue to shift online, growth is projected to slow, according to the analyst. TuSimple Holdings Inc sold 33.8 million Class A common stock shares at a price of $40 apiece. The company’s current value is estimated to be $8.5 billion. UiPath, Inc. is another noteworthy AI startup. With nearly 23 million shares priced at $56 apiece, the business raised $1.34 billion in its initial public offering.
Insider Monkey shares the list of the 10 best AI stocks under $50. Lantern Pharma Inc. is a clinical-stage biopharmaceutical company that is revolutionizing drug development with artificial intelligence. With its patented artificial intelligence platform, RADR, the company broke records in April 2021, surpassing 4.6 billion data points. On the list of best AI stocks under $50, ShotSpotter, Inc. is ranked 9th. The California-based gunshot detection firm analyzes search missions and plans to prevent violence using artificial intelligence. Over 100 localities in the United States, including North Chicago, Monroe, and Kankakee, use ShotSpotter. Veritone, Inc. is the eighth-best AI stock under $50 on the list. The artificial intelligence technology company, situated in California, has over 2,000 customers, including law enforcement organizations. Veritone made $18.3 million in revenue in the first quarter of 2021. The stock has increased by 152 percent in the last year. eGain Corporation, a cloud software firm situated in California, is ranked 7th among the top 10 AI stocks under $50. In their knowledge management software, the corporation employs artificial intelligence to respond to customer inquiries, direct operations, and make choices. The eGains platform was chosen by Goodyear Tire & Rubber Company to represent their virtual customer service. Bentley Systems, Incorporated, a software development firm based in Pennsylvania, is ranked 6th on the list of the top 10 AI stocks under $50. In the first quarter of 2021, the company’s GAAP operating income was $55.6 million. The stock of Bentley Systems has increased by 21% in the last year. Read more details in the article 10 Best AI Stocks under $50.