Stocks

The top AI stocks to buy in March 2023 includes Amazon, Microsoft, and more

The artificial intelligence (AI) market is booming, with many of the world’s largest companies venturing into the industry. Some businesses profit directly from AI by selling hardware, software, services, or expertise required by the technology. These are genuine artificial intelligence stocks.

The list of AI stocks in India is small, the industry is expanding rapidly. Many other companies are working on AI solutions in India, in addition to established tech giants like Tata Consultancy Services, Infosys, and Wipro. Artificial intelligence stocks, also known as AI stocks, are all the rage in international markets. NVIDIA Corporation, IBM, Micron Technology Inc., and Amazon Ltd are some of the popular AI stocks listed in the US markets. Artificial intelligence or AI is expected to replace 85 million jobs worldwide by the year 2025. So here are the top 5 AI Stocks to buy in 2023:

  1. Amazon

Amazon has used AI to efficiently run its e-commerce business, tracking customer searches, recommending products, and even tracking deliveries. The most compelling reason to invest in Amazon is its AI-powered cloud services delivered via its cloud computing platform, Amazon Web Services (AWS). Amazon provides AI services through AWS.

  1. Nvidia

Nvidia develops high-performance microchips that power artificial intelligence software and services. Nvidia’s collaboration with Oracle allows using Nvidia’s full AI platform as part of the agreement in its Oracle Cloud Infrastructure, a competitor to Amazon’s AWS. The goal is to increase enterprise customers’ access to AI capabilities while also encouraging AI innovation.

  1. IBM

IBM’s AI strategy is to use the technology to augment human intelligence, increase efficiency, or lower costs. IBM’s AI technology is being used in the healthcare industry to create individualized care plans, accelerate the process of bringing new drugs to market, and improve care quality.

  1. Microsoft

Since 2019, Microsoft has been investing in OpenAI, the company that created ChatGPT. Microsoft stated that it wants to make AI technology available to everyone through its Azure cloud computing platform. Microsoft, like Alphabet, recently debuted an AI chatbot for its search engine Bing. Unfortunately, Bing’s chatbot failed the accuracy test as well.

  1. Alphabet

Alphabet, the parent company of Google, recently launched a Chatbot Bard. Unfortunately for Alphabet, Bard’s test launch was a flop. The chatbot provided an incorrect answer in a short demo video intended to demonstrate Bard’s power. Outside of Bard, Alphabet’s Google cloud computing unit provides business AI tools and infrastructure.