Cognizant (CTSH)
As such a new and recently booming industry, there are many excellent undervalued ai stocks with great growth potential, and among those companies is Cognizant (NASDAQ:CTSH). This company provides global technology consulting and outsourcing solutions.
If we want to talk about their financials, CTSH saw a 0.8% year-over-year revenue increase. That translates into $4.9 billion, and if you have any doubts about the demand for their services, well they saw bookings of $26.9 billion.
But these excellent numbers are not all, they recently had a collaboration with Cambridge University Press & Assesment, which has a focus on digital transformation and making the most of artificial intelligence to improve the integrity of exam results and of course learning outcomes around the world.
Himax (HIMX)
Within the artificial intelligence sector, there are players in charge of the design of display drivers and semiconductors, which are of utmost importance for intelligent technology and vehicles. One such company is Himax Technologies (NASDAQ:HIMX).
Their Q3 2023 results were incredible. They had revenue of $238.5 million and an amazing after-tax profit of $11.2 million.
Within their outlook, they expect fourth quarter automotive sales to make up a large portion of total sales. They have a strong focus within the automotive sector, which includes a robust portfolio of display IC technologies. Among their diversification strategies is a great partnership with Nexchip in the thriving Chinese automotive market.
They recently introduced incredibly innovative technologies, such as the ultra-bright Front Side Color Sequence LCoS Microdisplay. This amazing technology positions HIMX as a key player in the emerging augmented reality eyewear market.
Guardforce (GFAI)
It may sound a bit obvious, but Guardforce (NASDAQ:GFAI) is in charge of security. It utilizes artificial intelligence to ensure safety and efficiency.
Financially, they have been able to play with their debt, as they have decided to convert it into shares, which has strategically allowed them to demonstrate their commitment to investors and of course to improving their financial health.
Guardforce has a Thai subsidiary, Guardforce Cash Solutions Security, which has struck a lucrative three-year deal with a Japanese retailer. This agreement has allowed them to introduce solutions such as the Guardforce Digital Cash Machine. This Thai subsidiary undoubtedly allows them to improve operational security, minimize the risk of fraud and helps them with the simplification of cash counting.
One of the most incredible strategic moves they have made is their partnership with Concorde Security in Singapore. This partnership aims to launch robotic security solutions. Included in these robots are janitorial robots, who manage visitors, and disinfection robots, whose task is to patrol with high-tech surveillance. These two robots contribute to making offices and hotels more secure and automated.
Guardforce and Concorde plan to expand this strategy to hospitals and residential buildings. Undoubtedly, both are working hard to realize this vision.
As of this writing, Gabriel Osorio-Mazzilli did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines
Gabriel Osorio is a former Goldman Sachs and Citigroup employee. He possesses discipline in bottom-up value investing and volatility-based long/short equities trading.