Are you Looking for the best-performing AI stocks in 2024? You are at the right place. Artificial Intelligence is one of the most booming sectors. Investing in AI can be a great investment for your future. Here we will discuss some of India’s top AI stocks and study each in detail.
What is Artificial Intelligence(AI)?
Artificial Intelligence, or AI, is the technology capable of performing tasks associated with human intelligence such as making decisions, generating natural language, and interpreting speech. Simply, AI teaches machines to behave like humans, automate work, and solve problems more efficiently.
Artificial Intelligence has the power to revolutionize businesses making them more productive by personalizing consumer experiences and optimizing operations which ultimately increases the efficiency of the business. In India, the AI industry is becoming more popular among Indian companies as a tool to enhance and improve their business profits.
Why AI is trending?
AI is being used in many sectors like agriculture, education, and Healthcare. It can be of great help with things like farming, medical diagnosis, and government sectors. NITI Aayog in 2018 reported that AI could add $957 billion to Indian Economy by 2035.
AI is becoming popular for a few reasons. Firstly, AI technology is getting better and easier to use, making it stronger, more efficient, and more available than ever before. This progress has led to a lot of AI systems being created and used in different industries.
One main benefit of AI is that it helps businesses work better. It can make tasks smoother, automate jobs, and improve overall business operations. Many companies are using AI to make their work more efficient, make better decisions, and increase productivity. Additionally, AI can provide personalized experiences for customers, like offering recommendations or customized services. This personal touch can make customers happier and more loyal.
AI also helps companies save money by doing repetitive jobs and reducing mistakes, allowing them to manage their resources better. Businesses that start using AI early can stay ahead of the competition by using data-driven insights, predictions, and automation. It has the potential to bring big changes to different industries, such as healthcare, finance, and retail. Overall, AI is on-trend because of its flexibility, efficiency, and ability to transform industries in many ways.
Why you should buy AI stocks?
Artificial Intelligence has expanded itself in almost all industries.
Now you might be thinking why should I invest in AI stocks?
Well, the answer is that investing in AI stocks can provide you with exposure to multiple sectors and can give you high growth or return. This variegation can help provide stability to your investment and can even reduce risk.
If your investment portfolio has some AI stocks then you will surely benefit from their returns. Of all the AI or tech stocks, here is the list of the top Artificial Intelligence stocks for 2024.
TOP AI STOCKS IN 2024
| S.NO. | Name of Stock | Market Capitalization(In INR) | Share Price(In INR) |
|---|---|---|---|
| 1. | Persistent Systems Ltd. | 568.79 billion | 3,734 |
| 2. | Tata Elxsi | 441.54 billion | 7,090 |
| 3. | Zensar Technologies | 157.08 billion | 693 |
| 4. | Saksoft | 26.27 billion | 260 |
| 5. | Infosys | 6.19 trillion | 1,496 |
| 6. | Tata consultancy services | 13.96 trillion | 3,855 |
| 7. | Kellton Technologies | 9.98 billion | 102 |
- Persistent Systems Ltd.
Persistent Systems is an India-based multinational company that provides software products and technology-related services. It was founded by Anand Deshpande in 1990 with an investment of $21,000. Its headquarters are located in Pune, Maharashtra (India).
It specializes in developing software products and offers complete product lifecycle services. Its service portfolio comprises digital design and strategy, data analytics, product engineering, artificial intelligence, data security, maintenance and support, etc.
The company is debt-free and has a record of healthy growth with profit returns of 16% and compounded revenue growth of 19% over the last decade. The company’s framework along with pre-built integration and accelerating potential, mark it as a leader in the AI world. The company aims to be a 2 Billion dollar plus in the next three years.
- Tata Elxsi
Tata Elxsi company is involved in designing and developing computer Hardware and software. With the integration of Artificial Intelligence, the company is shifting towards improved creativity and enhanced efficiency by its innovative methods of reshaping product design.
Tata Elxsi is among the world’s leading companies that provide design and technology services across various sectors such as automotive, broadcast, communications, transportation, and healthcare.
The company’s future plans comprise digital transformation in automotive using AI, AI-assisted driving, AI In-car assistants, predictive analysis, and AI at dealer services network and distribution channels.
- Zensar Technologies
Zensar Technologies is an India-based multinational software and services company. It was founded in 1991 by ICIM (International Computers Indian manufacture) and has its headquarters in Pune, Maharashtra(India). The company offers services in segments that include data engineering services, advanced engineering services, analytics, and application and experience services.
Its service portfolio comprises Artificial Intelligence, Digital Supply Chain, cloud infrastructure, data management, and enterprise applications. It also provides services in the fields of banking, finance, healthcare and life sciences, telecom, and Hi-tech engineering services.
With its well-planned focus on M&A, revenue profits, and sustainable margins, the company is assured of a promising future in the AI domain. Zensar aims to promote sustainability through its tech power and has a goal to achieve zero GHG emissions by 2040.
- Saksoft
Saksoft is an IT company that offers software services, business intelligence, testing, and AI-based end-to-end services which include AI consulting, ML development, cyber security services, and data analytics. It is a multinational company with around 2000 employees across 16 business centers.
Saksoft provides clients with quality assurance & testing, application engineering, and cloud and infrastructure services. It offers Gen AI models to transform and customize various business functions.
The company is nearly debt-free and holds a good record of growth and revenue profits. It has an upside potential of around 31% compared to an average analyst price. However, some studies suggest that this company is overvalued when compared to its records of performance in the digital market.
- Infosys
Infosys is the second-largest Indian multinational company with its headquarters in Bangalore. It offers IT-related services like business consulting, information technology, and outsourcing services. Infosys became the fourth Indian company to cross 100 billion dollars in market capitalization in 2021. It is among the top big tech companies in India.
The company offers software development, maintenance, and validation services in various domains such as insurance, Finance, and manufacturing.
Overall, Infosys’s growth can be accredited to its compilation of strategic vision, innovation, client focus, global expansion, talent development, and diversification of services. These factors have enabled it to negotiate the fast-evolving technology landscape and remain a leader in the IT services industry maintaining its status and position.
Infosys is working towards training 75% of its staff in Artificial Intelligence and Gen AI to grab emerging AI and tech opportunities.
- Tata Consultancy Services Ltd.
Tata Consultancy Services Ltd or TCS is an India-based multinational company that deals in Information technology, consulting, and outsourcing. The company has its headquarters in Mumbai, Maharashtra (India). In 2021 TCS reached a market capitalization of 200 billion dollars and became the first Indian tech company to reach this mark.
Its service portfolio comprises cloud, Cognitive business operations, consulting, and cyber security. TCS has framed one of the world’s largest and AI-ready staff to work on over 200 Gen AI projects.
TCS has been investing a lot in digital technologies such as cloud computing, AI, IoT, and blockchain. It is also likely to invest in developing AI solutions that are transparent, fair, and accountable, keeping in mind concerns like privacy, bias, and algorithmic transparency. TCS’s prospects look promising with its strong track record, global presence, and focus on innovation emerging technologies, and AI.
- Kellton Technologies
Kellton Tech Solutions is one of the top AI stocks in India. It is an Indian multinational tech company that deals in technology consulting services. Established in 2009, Kellton has its headquarters in Hyderabad, India.
The company provides services like custom product development, mobile app development, data science and engineering, AI and ML implementation, cloud computing and migration services, and digital experience engineering.
Kellton is also credited for developing mSehat, a tech innovation in family planning services agency project to help healthcare employees in five districts of Uttar Pradesh record data and provide medical services.
By staying graceful, customer-focused, and innovative-thinking, Kellton Technologies can continue to grow itself and reach upto new benchmarks.
Conclusion
When investing in AI stocks, it is important to be aware of the risks involved. Yes, there are good growth opportunities but remember to conduct your research before making any financial investments. Artificial Intelligence is in a rapidly growing phase and is in trend in today’s digital world but high competition in the same may lead to potential losses for investors.
Read More: Top 7 Must have Defense Stocks in your portfolio
By considering AI stocks you can diversify your investment portfolio, research well on your stocks, and stay updated on industry trends and news. This can increase your chance of getting good profit returns and can help you make smart decisions in the field of investment.
