AI or artificial intelligence and machine learning technology is the initiative to develop modern solutions to several challenges in different industries like education, health, and financial services to improve the overall end-user experience. Investing in AI stocks in India can be a great decision as it can potentially give a significant return in the long run.
NASSCOM’s AI for India goal is based on implementing AI solutions in the Indian market. So, businesses can automate their processes and increase productivity. Many startups and leading companies have already started working on AI-based solutions. So, if you are an investor in the Indian stock market, here is the article we will discuss top artificial intelligence stocks in India to invest in.
Importance of AI Industry in India
AI is the short form of artificial intelligence, the technology that simulates human intelligence in robots. Using the latest AI and ML techniques, machines and software are trained to think like humans and process the work accordingly. The AI industry has the potential to contribute 15% of India’s GDP by 2035, which is about $957 billion. It will contribute significantly to Indian GDP and promote high-level education, generate employment opportunities, and help current businesses scale and maximise their earning potential.
10 Best AI Stocks in India
1. Tata Elxsi
Tata Elxsi is one of the top-notch AI companies established in 1989. It offers a range of applications in electronics, embedded systems and advanced software. It has the expertise to provide AI solutions for self-driving cars to AI-based applications for various sectors. This company’s AI stock is considered the top midcap stock. This stock has given its investors a 174% return in the past three years.
2. Kellton Tech Solutions
Kellton Tech Solutions is an IT and outsourcing company based in Hyderabad and established in 1993. This company offers a range of services like connected digital enterprise, SAP, outsourced product development, and more. It has also focused on building AI to solve the challenges businesses face to scale and accomplish their goals. This company has set up a budget to invest in automating several business processes for better output capacity. This stock has given a 40% return to its stockholders and 106% in the Nifty IT market.
This company was launched recently in 2017, and within a short period, it has been recognised as one of the leading AI-focused companies. If you are finding the best AI-focused stocks to invest in India. It can be a perfect stock right now because it uses cutting-edge technology. So, it can create innovative solutions in six different areas. However, the stock has seen a negative return of 15.9% in the last three years. But still, it is one of the best AI stocks in India that can give you a long-term return.
Affle is a global technology company that was established in 2006. This company mainly focuses on providing end-to-end app marketing services. It has the expertise to provide the most targeted customer engagement, transactions, and acquisitions. It uses AI tools to under behavioural signals and other marketing attributions to give a clear-cut report to its users. Affle serves its high-end services to enterprises to help them engage with the audience. It has 12 patents pending right now in several domains like fraud detection. It’s one of the ideal AI companies listed in the stock market and gives you a better return under this category.
5. Happiest Minds
If you are still finding the top artificial intelligence stocks in India to buy right now. You can consider the AI stock of Happiest Minds; this company was founded in 2011. It mainly offers its services in AI, blockchain, cloud, IoT, robotics, drone and other relevant domains. The company has top-notch technology that uses AI for various purposes. Its AI programs are programmed to process image analytics, video analytics, and other range of activities to get crucial insights.
6. Zensar Technologies
Zensar Technologies is now focusing on the AI segment to capture the most market share. This company has started investing in R&D and has already filed over 100 patents. Now, this company’s prime goal is to focus on the AI sector to improve services related to sales, marketing, IT, HR, and other skill sets. This company has also built technology for self-driving cars and other sole purposes. In the last three years, this company’s AI stock has given investors about a 24% return.
Persistent Systems was founded in 1993 in Pune and offers top-notch services to secure its client’s mobile networking capacity. This company uses Wave Relay MANET technology to execute its sole purpose. It also uses AI software to improve its operations and prioritise cases and platform architecture. In recent years this company has achieved a CAGR of 10.7% and yearly sales growth of 16%. Hence, it’s also one of the best AI stocks in India that current investors can prefer.
Oracle is a well-known company that uses AI and data-driven cloud operations to provide automation services to its clients. This company’s services are designed in such a way that they help customers to save time and minimise costs. Its AI solution is suitable for various industries to manage cash flows and automate receivables and payables. Other features can help finance teams of companies to grow their brand. Its AI solution also helps HR increase employee engagement and minimise human errors.
9. Mphasis Limited
Most businesses face growth barriers because of poor big data management and failure to understand advanced analytics. It is somewhere Mphasis Limited works and provides next generation AI and machine learning solutions to its customers. This company’s several AI solutions are growing as these are helping enterprises to harness the power of big data and pro analytics. Thus, this company’s AI stock is also a good option to choose and invest some money.
It is an Indian multinational company that was founded in 1991. This company is known for offering customers engineering, outsourcing, and technology services. It provides advanced AI solutions and assistance to help businesses achieve their respective goals. This Hyderabad-based company has also appeared on the list of top outsourcing companies worldwide. It has achieved a CAGR growth of 10.75% and 16% sales growth.
The current technology trend is swimming around AI and ML because most companies focus in the same direction. AI solutions can perform advanced calculations, save time for businesses, and minimise costs. Therefore, most companies like Tata Elxsi and Affle have already launched many AI solutions and are working on innovations.
In this article, we discussed the top AI stocks in India, and these can give you a high return in the long term. We hope you find this article on the best AI stocks in India and gain some information. If you liked it, please share it with others and help other investors to know some best artificial stocks in India.