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11 Best Artificial Intelligence Stocks Under $20 According To Hedge Funds

Hamna Asim
11 min read

In This Article:

In this article, we discuss 11 best artificial intelligence stocks under $20. If you want to skip our discussion on the AI industry, head directly to 5 Best Artificial Intelligence Stocks Under $20 According To Hedge Funds.

As we move into 2024, the impact of artificial intelligence is expected to grow even further, following the significant strides made in 2023. With generative AI becoming increasingly familiar to employees over the past year, there is a greater readiness to grasp its role in today's work environment and embrace the opportunities it presents, as per BBC. AI holds potential to be a significant tool for workers with disabilities, which could drive positive change for all. Victor Santiago Pineda, director of the Inclusive Cities Lab at UC Berkeley, observed that many machine-learning tools developed to assist disabled workers could become more widely accessible, benefiting everyone. For instance, advancements like real-time, multilingual closed captioning from large language models can offer a broader range of information access to all individuals. Pineda commented:

"AI-powered assistive technologies have the potential to break down barriers and empower individuals with disabilities, fostering a sense of independence and inclusion."

Human-resource professionals are ready to use AI to create fairer hiring processes, although there are ongoing efforts to reduce bias in AI algorithms used in hiring and HR. Companies like Deloitte are using AI to retain talent, reallocating budgets and moving workers to more suitable roles to avoid layoffs, which could particularly benefit marginalized groups. The development of AI may also lead regulators to focus more on funding worker inclusion practices and ensuring workers' rights. While concerns about AI replacing jobs are valid, experts believe that workers will adapt and coexist with AI, especially those willing to learn and adapt. This may necessitate retraining and employer-supported learning opportunities. A 2023 survey by ‘Jobs for the Future's Center for Artificial Intelligence & the Future of Work’ highlighted the widespread acknowledgment of the need for new skills to thrive in an AI-driven workforce. However, as AI becomes more pervasive, there is a call for clear boundaries and regulations to safeguard the rights and occupations of a diverse workforce. Establishing a successful regulatory framework will require collaboration among corporations, governments, and academic researchers on a global scale.

According to a UBS report, the tech industry is at the early stages of a substantial growth phase, with the broader adoption of artificial intelligence set to turn it into a $225 billion market by 2027. This represents a significant increase from just $2.2 billion in 2022, indicating a compound annual growth rate of nearly 152%. The AI sector is expected to experience a corresponding 15-fold revenue surge, climbing from $18 billion in 2022 to $420 billion in 2027. This forecast reflects a 40% upward revision from UBS' previous estimates, which they now consider to have been too cautious. The anticipated surge in demand will be particularly beneficial for AI software, driving a 138% CAGR for the application sector. In 2024, the largest beneficiaries of increased spending will be hardware chips and GPUs used to train and run AI. This surge in spending is expected to provide a significant boost for semiconductor and platform companies, with industry revenues projected to increase from $15.8 billion to $165 billion. While some investors may have concerns about the growing regulatory focus on AI, implementing rules earlier rather than later is preferable to avoid restrictions on growth.

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