Why AI and Robotics Stocks Are the Ones to Watch Next Year?

AI and Robotics are developing each day and so are their stocks

ChatGPT is really popular right now, to use a line from Will Ferrell's character, fashion designer Jacobim Mugatu, in the 2001 Ben Stiller comedy Zoolander. In addition to performing language-based tasks that make Siri look foolish, the artificial intelligence (AI) chatbot conducts nearly human-like conversations and writes academic papers, creates social media captions, and assists students in improving their grade point averages by writing better history essays. ChatGPT has brought the potential power of AI in the very near future—the +7.4% future—front and center for both society and the financial community.

There are several strategies to arrange your investments so that you may profit from the ongoing AI revolution. Investing options include businesses that produce AI hardware, provide AI solutions, or market AI development resources. Alternatively, you may put money into businesses that employ AI to boost productivity, enhance marketing, or produce superior goods.

1. Adobe (ABDE): Adobe creates software for document management, publishing, data analytics, marketing, and content production. The company's main offering, Creative Cloud, is a subscription-based suite of creative tools. Adobe revealed further artificial intelligence (AI) and machine learning (ML) features for its marketing and analytics package, Experience Cloud, in 2022. Predictive skills are among these developments, which assist sales and marketing teams in comprehending how various aspects of marketing campaigns influence consumers' purchasing decisions. They may optimize their budgets and campaigns with the use of such data.

2. ALPHABET (GOOGLE): Recently, Google parent company Alphabet released a prototype version of Bard, an AI chatbot that works similarly to ChatGPT. Ask it a query, and Bard will retrieve, gather, and condense web resources fast to deliver you a response. This is viewed by some as the next development in search. Instead of asking a search engine to return a list of websites to browse, you get a single, comprehensive response. Unfortunately, Bard's test launch went horribly wrong for Alphabet. In a brief demonstration film meant to highlight Bard's capabilities, the chatbot provided a false response. It's obvious that Alphabet has to improve its technology. Through its Google cloud computing division, Alphabet provides commercial AI tools and infrastructure outside of Bard.

3. IBM: IBM offers AI and ML technologies that assist its clients make smarter decisions and more money through its Watson product line. The Watson AI product portfolio includes AI programs that automate workflow procedures, forecast results, and enhance customer service while reducing expenses. Another option for enterprise clients looking to develop and expand their own AI applications is IBM's Watson Studio. Over the past few years, IBM has also acquired a number of AI companies, including Turbonomic, Instana, and Databand.ai.

According to Statista's most recent forecasts, the worldwide robotics industry is anticipated to earn a staggering $34.94 billion in revenue by 2023, a significant increase from its current projected level. Among the numerous market categories, service robotics will command the largest market share. The significant progress made in artificial intelligence is responsible for the robotics industry's explosive expansion.

In light of this situation, it makes financial sense to invest in the robotics stocks that show the most promise. The need for complex and intelligent robotic systems is predicted to rise as robotics becomes more widely used, opening up significant development prospects for the sector.

1. UiPath:  Leading provider of robotic process automation (RPA), UiPath (NYSE:PATH) focuses on creating and maintaining software bots that can do virtual activities. The state-of-the-art software solutions offered by UiPath are crucial for companies who are struggling with a lack of workers following the COVID-19 outbreak. UiPath's virtual bots allow businesses to optimize their workforce and reallocate personnel to more strategic positions by automating time-consuming operations. This makes the company a leader in the applied robotics market.

UiPath is appealing due of its solid financial results and promising future growth. Moreover, UiPath is now trading at a favorable value. almost the previous twelve months, the stock has decreased by almost 44%. Therefore, when looking at the most promising robotics stocks, keep this name in mind.

2. Teradyne: Teradyne (NASDAQ:TER) is a well-known manufacturer of industrial machinery with an emphasis on job automation. In the electronics manufacturing sector, testing items to guarantee their performance is a tedious and time-consuming task. The state-of-the-art robots technology from Teradyne relieves human resources of this task. Teradyne's solutions thereby improve the accuracy of device testing prior to product launch and expedite the testing and verification process.

Teradyne's industrial equipment streamlines the testing process, making it a valuable tool for electronics manufacturers globally. Teradyne and Advantest are able to impose more influence over the sector because to their strong market position, which makes it harder for other competitors to enter and establish a footing. In the past year, the stock has decreased by more than 12%. Thus, now is the perfect moment to buy.