Best 10 Artificial Intelligence Stocks to Buy in Canada 2024

Did you know you can put money into AI stocks just like regular ones? AI is a growing field and the service sector is slowly realizing its potential. All the latest developments in this arena have made artificial intelligence stocks a very popular option for investors.

In this blog, we will discuss some of the best AI companies that have the potential to grow and where you can hold stocks. So, without waiting anymore, let’s delve right into it.

10 Artificial Intelligence Stocks to Buy in Canada 

Given under is a list of 10 AI stocks you can buy in Canada.

1. NVIDIA Corporation (NVDA)

In Canada, NVIDIA Corporation is a very big player in AI stocks. Every tech-savvy knows about its innovation and latest developments. The most famous and powerful ones are its GPUs. Many organizations have adopted their GPUs to perform tough AI tasks.

History also shows that NIVIDA has made significant contributions to the self-driving cars segment. The GPUs they have designed are capable of performing deep machine-learning tasks and making way for computer vision. All this makes NVDA a powerful stock in the market.

2. Alphabet Incorporated (GOOGL)

Who doesn’t know Google? But did you know that Alphabet Inc. is its subsidiary? It is one of the most happening companies that has utilized the power of AI. The journey began when it bought DeepMind Technologies somewhere in 2014.

DeepMind was already involved in R&D in machine learning. This gave Alphabet an edge and a forefront in AI. Apart from technological aspects, it is also focussed on social wellness via algorithm developments as well as privacy protection.

3. Amazon.com (AMZN)

Amazon’s AI stocks are also a very good option for Canadians. They have lots of artificial intelligence-enabled platforms like their shopping app, Alexa, and affiliate marketing stuff. Lots of machine learning algorithms are designed to provide customized recommendations to customers.

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Alexa on the other hand uses NLP to help customers demand. It is to make each of the devices IoT-enabled and hence smart homes. A few shares of AMZN in your portfolio will definitely look fancy and give you enhanced profits later on.

4. Microsoft Incorporated (MSFT)

Microsoft is definitely the top AI contender in the market. They are constantly revolutionizing the industry with their software and products. A few examples are Cortana and Microsoft Azure. You will also find them in the news for supporting AI startups and talented small businessmen.

Another reason why they stand outside the box is because they are devoted to ethical AI. Therefore, user trust is never compromised. The company also maintains complete confidentiality. So whenever you make an investing decision, do check MSFT stocks.

5. International Business Machine Corporation (IBM)

International Business Machine Corporation has made some significant contributions to Artificial intelligence research and development. They have successfully thrived in finance, health, cybersecurity, and more. 

Do you know about the Watson platform? It is actually a software that uses machine learning and NLP to analyze bulk data. They also have specialized chips to handle AI workload. Obviously, one of the factors while choosing AI stocks is “performance and technological capabilities”. Thus, IBM has an edge in it.

6. Apple Incorporated (AAPL)

Apple is one such company that is taking AI to a different level. They are constantly bringing new innovations in their products and services. AI is incorporated in almost every service right from Siri to face recognition systems in iPhones.

It has also made some strategic acquisitions with MLP Turi and Xnor.ai. A lot of investments and thrives are made in augmented reality tech. Now their mission is to bring this into the daily lives of users. The AAPL stock can do nothing wrong in the future. Research more and invest in such worthy ones.

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7. Intel Corporation (INTC)

Intel Corporation is a well-known brand name that manufactures computer processors. They have done significant work in adopting AI into their processing chipsets. The most popular products are their- “Intel Nervana Neural Network Processor”. Its main role is to reduce workload and provide efficiency and performance advantage.

They have also acquired a driving tech company- “Mobileye”. With their open-source collaboration, lots of small start-ups and tech companies can get a big platform. INTC is an excellent long-term investment option for beginners.

8. UiPath Inc. (PATH)

A lot of you might not know about UiPath Inc. but it is a progressing tech company. It is in the news for its imaginative ways as they work with robots. There is a technology called RPA which helps to automate heavy tasks and make business smoother. 

A big achievement for them was in 2021 when they got listed in NYSE. The IPO gave very beneficial results for the company. As per the reports of Grand View Research, the RPA market will be near $16.1Mn by 2027. So, who knows if PATH stocks will be profitable or if they will bring a robotic apocalypse in the coming years!

9. C3.ai Incorporated (AI)

In Canada, CR.ai is also a great option if you are looking for AI stocks. What they do is develop applications that rely on big data to make decisions based on the information provided. The technology they are using currently is applicable to all business sectors including finance, health, insurance, etc.

They target traditional industries and help them via digital transformation by optimizing their business processes, boosting user experience, etc. Along with it they also offer advanced analytics to extract data. 

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10. Kinaxis (KSX)

Last but not least is Kinaxis whose headquarters are in Ottawa, Canada. It provides SaaS platforms for SCM in companies. With most companies that problem is huge volumes of data. Cloud-based platforms are a way out of this.

They have enabled a system that breaks huge data into valuable insights and alerts respective users whenever there is a problem. Usually, the problems in the supply chain system become so complex that companies incur heavy losses trying to recover. 

KSX stocks are also a viable option in the present situation. It is fair to say that they are leading towards sustainable growth.

Artificial Intelligence Stocks in Canada: Should You Buy?

Putting your money into Artificial intelligence stocks is nothing different to normal stocks. Rather AI is a very lucrative and developing field. Constant innovations and new technologies are leading the service sectors to betterment.

The AI market will thrive and become very profitable in the future. Thus, investing in such stocks is definitely a worthy option. One thing that Canadians must know is that investment of such kind is more suitable for a long-term prospect. You can also have a look at some of the other trending investment options in Canada.

Disclaimer: A very high degree of risk is involved in trading and investing. The content on this site is solely for informational purpose only. We are not an investment advisory service. The content given on this website should not be considered as a professional advice in any regard. Please do thorough research and consult a professional before investing in any of the asset classes.

What do you think about investing in AI stocks in Canada? Feel free to comment below.

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