The top 10 artificial intelligence stocks under $10 are covered in this article.
Are you selecting stocks related to artificial intelligence (AI) for your portfolio?
The investment industry is exploding with AI innovations, which are frequently integrated with Machine Learning (ML) technology.
Despite the competition, the shares of cutting-edge businesses that succeed might be anticipated to soar.
The early days of tech stocks, which later produced life-changing gains for their investors, and the AI sector share many similarities. The top artificial intelligence stocks under $10 are examined in this article, each of which makes a strong case for being added to your portfolio.
WHAT ARE AI STOCKS?
AI holds the promise of eventually replacing all human thought processes with iterative computer designs. The method closely resembles how we assimilate new information and associations in order to innovate and develop fresh solutions to important concerns.
The potential for AI is enormous, and the transition to its use has begun. AI is already present in daily life. Technology is used by search engines to enhance user experiences, insurance firms to filter claims, and Siri and Alexa to demonstrate some of the advantages of having a virtual assistant.
Stocks in companies that produce products and services that aim to maximise the potential of AI and ML are referred to as AI stocks. Understanding a product’s potential as well as the possibility of it being a commercial success is necessary for selecting the finest stocks.
What AI stocks are worth investing in?
While the stock market had a difficult year in 2022 due to high inflation, aggressive rate hikes, and unusual events like the Russian invasion of Ukraine, there is hope that 2023 will be a better year for businesses that use artificial intelligence. Even though the year has only been a month old, many IT stocks have already begun to recover.
Top 10 artificial intelligence stocks under $10
Top 10 artificial intelligence stocks under $10 for investing are listed below.
- INC. COOTEK (CAYMAN) (NYSE: CTK)
- Duos Technologies Group (NASDAQ: DUOT)
- Ideanomics (NASDAQ: IDEX)
- LANTRONIX, INC (NASDAQ: LTRX)
- Rekor Systems (NASDAQ: REKR)
- AudioEye (NASDAQ: AEYE)
- Innodata (NASDAQ: INOD)
- Predictive Oncology’s (NASDAQ: POAI)
- AMESITE INC (NASDAQ: AMST)
- ALITHYA GROUP INC (NASDAQ: ALYA)
1- INC. COOTEK (CAYMAN) (NYSE:CTK)
This NYSE-listed business has assembled a select group of senior managers from Microsoft and has built a reputation for producing, distributing, and running world-class mobile software.
Its stock was touted a few years ago as a result of its fantastic beginnings, but it has now steadily returned to Earth and price levels where buy-and-hold investors are showing renewed interest.
The company’s AI solutions cover some of the industries that are most susceptible to the disruptive technology’s ability to upend the status quo.
According to the corporation, it is a “global mobile internet company.” Its products are mostly based on mobile phones, and it has employed AI to create a matrix of mobile games that are popular among players who lead busy lives.
The online literary offering it provides complements the gaming segment by giving customers access to intriguing, pertinent information that was sourced utilising a unique AI engine.
Existing CooTek shareholders have been severely burned by the decline in stock price, which has dropped from as high as $12 in January 2019. The stock is currently trading at “pennies.”
Despite the price decline, the company is still releasing new goods that might reverse its fortunes. The CooTek metaverse is a new kind of entertainment that combines books and video games, and the addition of in-app advertising will help the company’s financial position.
2- Duos Technologies Group (NASDAQ:DUOT)
For a variety of businesses, Duos Technologies Group (NASDAQ:DUOT) creates automated inspection systems for rail cars. It can effectively automate the inspection process and drastically lower costs thanks to its exclusive technologies.
Duos Technologies intends to transition to a recurring revenue model while also preparing for global expansion in order to diversify into other industries and regions. By offering consumers affordable solutions, the company hopes to grow even more with this emphasis on innovation, progress, and expansion.
Due to the business’s recent notable success, Duos just hired a new CEO to strengthen the organisation, resources, and personnel.
The impressive profile of Duo demonstrates its dedication to offering its customers the cutting-edge solutions they require to handle rapidly changing digital challenges. The company has recently experienced sales growth with triple-digit margins.
Ideanomics (NASDAQ:IDEX) is one of the most inventive electric vehicle (EV) firms now operating, and it has attracted attention, even going so far as to become a meme stock last year.
Though Ideanomics has had a hard time moving past its past and regaining value, it is still a desirable penny stock with a lot of potential.
The business is a Mobile Electric Vehicle Mobility and Fintech Enterprise that specializes in fleet electrification services for commercial trucks and buses, from infrastructure planning and construction to operational support.
To help businesses stay ahead of the innovation curve, Ideanomics also offers investing in a variety of futuristic industries, such as real estate and commodities. Its stock is currently trading for a few cents but is still a great long-term EV investment. From its existing revenue base, forward revenue predictions represent a significant improvement.
4- LANTRONIX, INC (NASDAQ:LTRX)
Since its founding in 1989, LANTRONIX, INC (NASDAQ:LTRX) has been based in California. With its ‘SaaS’ engineering and hardware services enabling exposure to the IoT sector, it provides both hardware and software services based on AI.
With customers across the Americas, the Middle East, Europe, Africa, and the Asia Pacific Japan region, Lantronix is a multinational corporation. It kind of functions as a three-play, using powerful trends in the SaaS, IoT, and AI/ML technology sectors.
The variety of Lantronix’s clients is one of its appealing qualities. Companies in the industrial, financial, energy, healthcare, transportation, security, IT, and government sectors buy its products. When the overall economy is strong, having a diverse set of revenue sources can not only help during difficult economic times but also pave the way for above-average growth.
The company Lantronix is well-known in a market that is expanding. The stock, which has a $2 long-term trading base level, has so far generally been maintained by investors. Any momentary deterioration that LTRX experiences is an opportunity to bottom-fish for a stock that was trading above $10 less than a year ago.
5-Rekor Systems (NASDAQ:REKR)
With its cutting-edge AI and machine learning capabilities, Rekor Systems (NASDAQ:REKR) is an innovative firm that is pushing the boundaries of vehicle recognition technology.
The results of its work have been outstanding, providing customers with a variety of reliable automated systems that can recognize vehicles and license plates – all for substantially lower costs.
This change in strategy demonstrates how committed they are to offering high-quality items while staying one step ahead of their rivals.
Rekor Systems is projected to experience higher margins and recurring revenues with the shift to a subscription model, resulting in even more attractive returns from its cutting-edge products.
In the US, REKR is paving the way for the transformation of data and software used for transportation system management.
REKR has increased its presence even more by buying a number of businesses. According to Grand View Research, the global market for transportation management systems might expand by a staggering 14.6% between 2022 and 2030, reaching $31.2 billion.
To take advantage of these chances and influence the direction of the industry, REKR is in a strong position. The company is making outstanding progress toward its goals of enhancing customer satisfaction and corporate efficiency.
An Arizona-based digital accessibility platform called AudioEye (NASDAQ:AEYE) promises to make material accessible to everyone.
Through its all-encompassing solution architecture, legal compliance features, and distinctive qualities, it is paving the path for the projected 67 million disabled Americans and 1 billion people worldwide. With additional clients being added each quarter, their customer base of more over 80,000 is amazing.
This offers a large possibility for prospective earnings, not to mention the stock of the company has the potential for exponential growth.
The business keeps gaining new clients and revenue, which advances the trajectory of total growth with encouraging outcomes. As the business considers this enormous and unexplored market opportunity, this outstanding client interaction represents an exceptional milestone for the business.
7- Innodata (NASDAQ:INOD)
At the beginning of this crucial industry change in data engineering, New Jersey-based Innodata (NASDAQ:INOD) was established in 1988, making it a leader and innovator for close to 30 years.
What began as a modest company offering software and outsourced data engineering services to smaller businesses has developed into a global powerhouse providing customised insights to corporations all over the world.
Additionally, it has a stellar track record of increasing revenues over the previous five years, resulting in positive single-digit growth. Additionally, sales are up more than 20% year over year.
Because of the rising demand brought on by our desire for data-driven insights, the data engineering sector is expanding at an accelerated rate. This sector, driven by technological development, offers many opportunities to examine and comprehend data from all around the world.
Of course, the potential for economic growth that data engineering may encourage is not limited to corporations; it can also benefit governmental organisations, educational institutions, and non-profits around the world. As a result, its stock is a great investment opportunity in the sector.
8- Predictive Oncology’s (NASDAQ:POAI)
Predictive Oncology (NASDAQ:POAI) extensive database of more than 150,000 tumours organised by cancer type and cutting-edge AI technologies are being used to create therapies more effectively and precisely.
They recently disclosed that they would be launching an internal drug repurposing platform with the express purpose of improving ovarian cancer treatment outcomes. The goal of this platform is to offer more precise, tailored treatments that can enhance patient prognoses.
Predictive Oncology is advancing oncology therapies by utilising this technology and laying the foundation for a better future for cancer patients worldwide. The company has also done exceptionally well in increasing its cash balance and significantly reducing its debt load.
Sales are increasing, and over 27% more money has been made during the last five years.
9- AMESITE INC (NASDAQ:AMST)
AMESITE INC (NASDAQ:AMST) is a Detroit, Michigan-based company that develops artificial intelligence software tools to improve the accessibility, affordability, and enjoyment of education. It was established in 2017 and trades on the NASDAQ under the ticker AMST.
The business offers clients in the corporate, museum, and education sectors services using AI. It also makes use of cloud-based payment methods, leveraging the Software-as-a-Service (SaaS) revolution.
Not just schools and universities need to improve how they deliver instruction and learning; all organisations do. While Amesite may have initially served these venues, the Learning Community Environment AI tool’s potential for use by corporate partners in compliance and employee training is what will ultimately drive the stock’s genuine growth potential.
Like other tech equities, AMST had a challenging 2022. Amesite shares lost more than 70% of its value as a result of the general market trend away from risk. As a result, the stock appears to be currently undervalued. Public sector institutions, which are largely recession-proof, make up its main clientele. Amesite will still be able to grow its clientele in the private sector once the economic tide turns.
10- ALITHYA GROUP INC (NASDAQ:ALYA)
Alithya is a digital strategy and technologies company with its headquarters in Montreal. The 1992-founded company has over 3,900 employees worldwide, but it concentrates its operations in Canada and the US.
Modern technology from Alithya is employed in the design and construction of creative solutions for the clients of the company’s business activities.
The “Internet-of-Things” (IoT), machine learning, business intelligence, and legacy system optimization are just a few of the topics covered by the software engineering consulting services.
The company holds a prominent position in the finance industry. Institutional fund managers utilise its solutions to improve and streamline processes ranging from trade selection to compliance. Its front-to-back service covers implementation, proof of concept testing, and feasibility studies for AI.
Currently, Alithya does not distribute dividends; instead, all of its earnings are reinvested in new initiatives. It is a growth stock that was trading for twice as much as it is now only a year ago.
It is a stock that AI supporters should be jumping in to acquire during price falls because it is a long-term player in the industry and has the critical mass to withstand any general economic slowdown.
REASONS TO INVEST IN AI STOCKS?
Most stock valuation models use expected future earnings to determine a share’s present price. Any company that achieves a substantial advancement might be anticipated to create exponentially more future revenue when you take into account the potential of the AI sector.
That would cause the stock price to soar, just as it did for Microsoft and Apple stock when those companies were just getting started.
A hedge against stocks in your portfolio losing value due to impending technological advancements might be created by investing in AI stocks.
Tracking the development of the industry might provide you a sideways glance at other stocks you own, even if you only own minor investments in AI stocks.
As AI integrates more deeply into the economy, there will be winners and losers. AI is essentially a disruptive technology. One person who has emphasised the need to monitor changes is market guru Warren Buffett.