Top Artificial Intelligence Stocks in India: The world is changing at an unprecedented speed. A decade one would think twice before watching an online high-resolution video, today we have self-driving electric cars entering the Indian markets and human intelligence like Machines and robots doing our works. This has also opened new opportunities for investors to jump in early into these prospects.
In this article, we focus on top Artificial Intelligence stocks in the Indian stock market that provides opportunities in this field. Keep reading to find out more.
Top Artificial Intelligence stocks in the Indian Stock Market
Artificial Intelligence refers to the simulation of human intelligence by machines, especially computer systems. These allow tasks earlier required manpower to be performed in lesser time and with greater accuracy.
AI stocks are not only a great investment for the future but also could be a game-changer for the Indian economy. It is expected that AI has the potential to make up 15% of India’s current gross value in 2035 or $957 billion. Following are some of the top companies working on AI in the Indian stock market.
1. Tata Elxsi
Tata Elxsi was founded in 1989 to develop and promote applications of electronics, embedded systems, and software. Today Tata Elxsi is one of the worlds leading providers of design and technology services in various industries. These include Automotive, broadcasting, communication, healthcare and transportation.
The company, part of the Tata Group is listed in the stock market and performs in the midcap range. When it comes to AI the company has had success in various fields like self-driving cars, video analytics solutions etc.
The company also works on other technology-related aspects like IoT (Internet of Things), cloud, smart mobility. In the previous year, Tate Elxsi won the NASSCOM Engineering & Innovation Excellence Awards 2021 for Engineering Service Providers for all product groups.
Financially the company has performed well. Tata Elxsi has had a Compounded Sales Growth of 15% for the last 5 years.
Founded in 2006, Affle is a global technology company. The company is mainly focused on providing end-to-end solutions for App Marketing.
Here Affle delivers consumer acquisitions, engagements, and transactions through relevant mobile advertising. Their AI uses behavioural signals, marketing attribution, and transactional data from users to predict one’s interests. This allows them to direct ads as per these preferences enriching users ad content.
Affle also provides enterprises with end-to-end solutions to help them engage with mobile users. They currently have 20 patents with 6 granted in US related to digital advertising, fraud detection and voice-based intelligence.
The company has 14 patents filed in the US, India and Singapore related to innovative futuristic use cases
Founded in 1993 and based in Hyderabad, Kellton Tech Solutions is an information technology and outsourcing company.
The company provides services for Digital Transformation, Digital Connected Enterprise, SAP, Outsourced Product Development, and Digital Commerce and Marketing.
They are focused on using AI to solve challenges that would otherwise take a lot of human intellect. The company does this by automating complex tasks helping businesses get more out of machines.
Oracle helps companies use prebuilt Artificial Intelligence, data-driven cloud applications to automate operations resulting in saved time and cost and improved customer experience due to accelerated process.
Its AI applications can be used across various fields. These include optimising cash flows, automating receivables and payables, procurement and inventory for finance teams.
In sales, their applications help agents convert sales by helping them recognize opportunities with the highest probability. These applications are also extended to HR helping them improve employee engagement and prospective candidate quality.
Their Cloud applications help speed up automation and reduce human errors.
Founded in 2011, Happiest Minds is an IT consulting and services company. The company offers its clients various services which include artificial intelligence, cloud, internet of things(IoT), blockchain robotics/drones, virtual/augmented reality, etc.
The company uses artificial intelligence for language processing, image analytics, video analytics, and emerging technologies like AR and VR. In addition to this, the company also helps businesses implement robotic smacking use of AI resulting in saved time and cost.
The company was listed on the stock exchange in September 2020.
Founded in 1993 and based in Pune, Persistent Systems offers its clients secure and scalable mobile networking capability.
The company uses modern Wave Relay MANET technology for this purpose. The company uses AI to help companies improve and scale their operations, prioritize cases and design platform architecture.
Financially the company has performed well too. It has achieved a compounded sales growth of 15% for the last five years.
Founded in 1991, Cyient is an engineering, outsourcing and technology solutions company. They provide AI tools and assist companies to achieve their respective goals.
Based in Hyderabad the company was also among the top 30 outsourcing companies in the world. Financially the company has achieved a compounded sales growth of 10%.
Since 2000, the company has made 11 acquisitions and 3 investments further aiding its growth.
Bosch has its arms in several fields. The company started the Bosch Center for Artificial Intelligence (BCAI) in 2017 to develop AI-related products and services.
It also produces research that produces differentiation in all of its arms. The company uses AI and machine learning in vehicle diagnostics, predictive maintenance, large scale simulations etc.
The current technological swing towards AI has attracted several companies to invest in the technology. This also has resulted in investors wanting a piece of the action. Investing in the right Artificial Intelligence stocks will be extremely fruitful in the long term.
That’s all for this post, let us know which AI stock you find the most attractive in the comments below. Happy Investing!
Aron, Bachelors in Commerce from Mangalore University, entered the world of Equity research to explore his interests in financial markets. Outside of work, you can catch him binging on a show, supporting RCB, and dreaming of visiting Kasol soon. He also believes that eating kid’s ice-cream is the best way to teach them taxes.
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