The top ten penny stocks for artificial intelligence (AI) under $1 are covered in this article. Visit 5 Best AI Penny Stocks Under $1 to read more about various artificial intelligence stocks.
Worldwide, artificial intelligence (AI) is developing quickly to provide individuals with personalised experiences. AI products are currently developing beyond their basic uses to include more sophisticated chatbots for customer care, services that are tailored to the needs of specific customers, and even AI robots installed in banks for self-service. In addition to these fundamental uses, banks may use technology to increase the efficiency of their screening and lending procedures and even to lower security concerns.
Artificial intelligence has been swiftly incorporated into company procedures throughout the world to enhance commercial operations. In order to increase the efficiency of their operations at a cheap cost, small and medium-sized firms are also investing in new technologies. In the upcoming years, the introduction of 5G, automation, the cloud, and massive databases are anticipated to have a substantial impact on demand for technology. The newest study indicates that the size of the global AI market was $87 billion in 2021 and that it would grow at a rate of 38% CAGR to reach US$ 1,597 billion by 2030.
How can artificial intelligence be defined?
Artificial intelligence is the imitation of human intellectual functions by computers, particularly computer systems, speech recognition, machine learning, and natural language processing. Machines can learn from experience, adapt to new inputs, and carry out human-like activities thanks to artificial intelligence. Computers that can play chess and self-driving automobiles are two examples that are frequently used in today’s media. Deep learning and natural language processing are used in these procedures.
There are four main categories of AI, according to the current classification scheme: reactive, limited memory, theory of mind, and self-awareness. In almost every field, artificial intelligence is influencing the future of the planet. Emerging technologies like robots, the Internet of Things, and big data are already driven by it. While there are many occupations that artificial intelligence can replace, there are also many that it can create. The majority of firms are thinking about switching to systems, apps, security systems, data analysis, and other applications that are driven by AI.
The most frequent uses of this technology are to store and organise data. Another significant development in the field of AI is machine learning. Advanced software algorithms can do a single job, such answering questions, translating languages, or guiding a user through a journey. One of the popular artificial intelligence trends is nation language generation. Artificial intelligence is also possible to facilitate supply networks. A significant development in the current artificial intelligence sector is human computation.
AI Market Expanded Due to Pandemic and War
Two significant worldwide events—the 2020 pandemic and the Russian invasion of Ukraine—that caused slowdowns in other businesses have helped the global AI market. While the latter raised worldwide government investment on AI software for military, notably in European nations adjacent to Russia, the former increased demand for AI goods as more firms transitioned to digital work patterns. In the next five years, AI is expected to increase at a rate of more than 35% annually, according to the news outlet Bloomberg.
According to estimates, North America has dominated the global artificial intelligence business in recent years, contributing over 43% of total revenue in 2021 alone. AI development in the Asia-Pacific area has been propelled by services in important industries including healthcare, manufacturing, and automotive in countries like China, Japan, South Korea, and Australia. Governments and business companies have also been interested in AI technology due to its growing uses and straightforward implementation methods.
Alphabet Inc. (NASDAQ:GOOG), Microsoft Corporation (NASDAQ:MSFT), and Mastercard Incorporated are a few of the leading companies working in the AI field (NYSE:MA). However, there are several issues with the new technology that investors need to be aware of. First of all, because AI is a complex system, companies in the field require workers with a certain set of skills to develop, oversee, and implement AI systems. Higher pay is expected for these talents. Second, those who deal with AI systems require a variety of knowledge in cognitive computing and deep learning.
Our Technique
The list consists of businesses involved in artificial intelligence that, as of December 3, were trading for less than $1 per share. Outlining the core business basics and analyst rankings for each company was given particular consideration in order to provide readers some context and help them make better investment decisions. The amount of hedge funds with positions in each company was determined using information from about 900 elite hedge funds that Insider Monkey analysed in the third quarter of 2022.
Top 10 AI Penny Stocks for Under $1.
PT Technologies Co., Ltd. (NASDAQ:PBTS)
Holders of Hedge Funds: 1
On December 3, the share price was $0.14.
Software application and technology solutions and services are offered by Powerbridge Technologies Co., Ltd. (NASDAQ:PBTS), particularly in China. In some of these applications, such biometric face and fingerprint identification, the company leverages artificial intelligence technologies. Powerbridge Technologies Co. disclosed on November 14 that it had purchased a 19% share in DTI Group, a software firm focusing in global digitalization and platforms. The deal’s financial details weren’t made public. Following the deal’s announcement, Power Technologies’ stock price increased by 3%.
By the conclusion of the third quarter of 2022, just one hedge fund in the Insider Monkey database had positions in Powerbridge Technologies Co., Ltd. (NASDAQ:PBTS) worth $166,000, compared to two positions worth $91,000 in the quarter before.
With 15,967 shares valued at more than $8,000, New York-based investment company Millennium Management is a significant stakeholder in Powerbridge Technologies Co., Ltd. (NASDAQ:PBTS) among the hedge funds Insider Monkey is following.
Powerbridge Technologies Co., Ltd. (NASDAQ:PBTS), in contrast to Alphabet Inc. (NASDAQ:GOOG), Mastercard Incorporated (NYSE:MA), and Microsoft Corporation (NASDAQ:MSFT), is one of the most reasonably priced artificial intelligence stock selections for investors.
Remark Holdings, Inc. 9. (NASDAQ:MARK)
Holders of Hedge Funds: 1
Shares were trading at $0.24 on December 3.
For companies and software developers, Remark Holdings, Inc. (NASDAQ:MARK) primarily focuses on the creation and implementation of artificial intelligence-based solutions. The company’s AI technology is renowned for its intelligent, dependable, and quick performance, making video analytics one of its top offerings. Remark Holdings reported losses per share of $0.08 when it released earnings for the third quarter of 2022 on November 15. The total income for the time period was $2.8 million, an increase of 133.3% over the same period last year.
Remark Holdings, Inc. (NASDAQ:MARK) had 1 hedge fund holding at the end of the third quarter of 2022, versus 3 holdings totaling $3.6 million at the end of the second quarter.
8. Inc. Inuvo (NYSE:INUV)
Holders of Hedge Funds: 2
As of December 3: $0.30 per share
A technology business called Inuvo, Inc. (NYSE:INUV) creates and markets information technology solutions in the US. The business offers modelling and data about consumers using artificial intelligence. Inuvo Inc. reported losses per share of $0.03 for the third quarter of 2022 on November 15, missing market expectations by $0.01. Revenue for the quarter was $17.1 million, down $4.95 million from market expectations but up 1.5% from the same time previous year.
With 144,100 shares valued at more than $71,000, New York-based investment company Renaissance Technologies is the largest stakeholder in Inuvo, Inc. (NYSE:INUV) among the hedge funds Insider Monkey is monitoring.
By the conclusion of the third quarter of 2022, just one hedge fund in the Insider Monkey database had positions in Inuvo, Inc. (NYSE:INUV) worth $68,000, compared to two positions worth $79,000 in the quarter before.
Predictive Oncology Inc. 7. (NASDAQ:POAI)
Holders of Hedge Funds: 2
As of December 3: $0.55 per share
Predictive Oncology Inc. (NASDAQ:POAI) is a knowledge-driven business that focuses on applying artificial intelligence (AI) to provide individualised cancer treatments, especially in the US. Customers may compare against patient populations of more than 150,000 tumour samples using the company’s AI platform, which also keeps ongoing records of clinical testing. Predictive Oncology announced losses of $0.05 per share for the third quarter of 2022 on November 10. Revenue increased by 48.4% from the same period previous year to $0.46 million during the period.
With 405,100 shares valued at more than $166,000, New York-based investment company Renaissance Technologies is one of the largest shareholders in Predictive Oncology Inc. (NASDAQ:POAI) among the hedge funds Insider Monkey is monitoring.
At the conclusion of the third quarter of 2022, two hedge funds in Insider Monkey’s database owned holdings in Predictive Oncology Inc. (NASDAQ:POAI) worth $151,000, the same amount as they did at the end of the second quarter ($172,000).
Oblong, Inc. 6. (NASDAQ:OBLG)
Holders of Hedge Funds: 3
Shares were trading at $0.17 on December 3.
In the US and abroad, Oblong, Inc. (NASDAQ:OBLG) offers managed services and multi-stream collaboration technology for video collaboration and network applications. The business is working with IT behemoth IBM to create a Cloud Video Surveillance System that makes better use of artificial intelligence.
Three hedge funds in Insider Monkey’s database had positions in Oblong, Inc. (NASDAQ:OBLG) at the end of the third quarter of 2022, down from three the quarter before with interests totalling $1.2 million.
In contrast to Alphabet Inc. (NASDAQ:GOOG), Mastercard Incorporated (NYSE:MA), and Microsoft Corporation (NASDAQ:MSFT), Oblong, Inc. (NASDAQ:OBLG) is one of the most reasonably priced artificial intelligence stock selections for investors.
