Yahoo Finance 1 Stock to Invest in Canada’s Burgeoning AI Scene
Written by Joey Frenette at The Motley Fool Canada
It’s virtually impossible to ignore the early waves produced by OpenAI, ChatGPT, and all the sort. Unlike the crypto hype of past years, something feels different about the rise of AI. In many ways, it feels more like getting a glimpse of technology that could fundamentally change the way we work, play, and interact. Undoubtedly, OpenAI’s language model, ChatGPT, has a ton of potential. However, AI will need to fall within appropriate guard rails to ensure a sci-fi horror story doesn’t end up panning out a few decades down the road.
For now, there’s not too much regulation regarding AI. There are legal issues from left, right, and centre. Who owns AI-generated content exactly? Is it the entity processing the data inputs the AI engine uses? Or does the generated IP belong to the trainer of an AI model? It’s hard to say. In due time, there will be more clarity. But for now, it’s hard not to want to get a slice of some of the top AI companies that could bring forth the so-called fourth (at least I think it’s the fourth!) industrial revolution.
The rise of AI could mint big TSX winners
Sure, there will be displacement and other pains. However, with the right regulations and safety procedures put in place, I do think that AI tech could be a net positive for everyone, especially early investors in AI-leveraging companies. Of course, there are risks. And the stakes are undoubtedly high. That’s a major reason why Elon Musk and other industry heavyweights have been calling for some sort of pause on development.
Pause or not, I think the following Canadian stock seems poised to gain a lot from AI over the next 10 years and beyond. As much as AI will help make the lives of consumers easier, it will be the corporations that stand to benefit the most from a financial perspective, as they use AI to improve upon efficiencies, drive down costs, and uncover new growth pathways.
Docebo (TSX:DCBO) stands out as but one remarkable AI innovator that could profit from advancements in machine learning (ML). I’ve been bullish on the learning management system (LMS) developer in recent weeks, and I continue to stand by the name, even though tech has crept steadily higher in recent sessions. Over the past six months, DCBO stock has surged 26%!
Docebo stock: A potential AI underdog?
Docebo boomed during the pandemic lockdown era, only to go bust when the world reopened its doors. Though things are back to normal, very few have any desire to return to the office full time. Remote (or hybrid) work seems to be the new normal. It’s just too convenient. Further, tools like Docebo have made it such that remote work may actually be more productive. Of course, the remote vs. in-office battle is up for debate.
For now, I think Docebo has a solid platform that’s helping make the remote case strong, even in the post-COVID era.
Why?
Docebo’s platform does more than help train workers; it leverages AI to help deliver a personalized experience for users in need of training or coaching. As chatbots and all the sort become the new norm, I’d look for remote work to have a resurgence again, especially as home networks improve and video communications (think meetings in the metaverse) look to become new standards.
The post 1 Stock to Invest in Canada’s Burgeoning AI Scene appeared first on The Motley Fool Canada.
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Fool contributor Joey Frenette has no position in any of the stocks mentioned. The Motley Fool recommends Docebo. The Motley Fool has a disclosure policy.
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