In the current fast-paced and ever-evolving financial landscape, investors constantly seek new opportunities that offer stability and growth potential. One sector that has rocketed to the forefront of investors’ minds is Artificial Intelligence (AI).
For those focused on London-listed stocks, some companies are utilising AI technology better than others.
Here’s how Kainos (LON: KNOS), Experian (LON: EXPN), and Ocado (LON: OCDO) are using AI to become more efficient and boost their businesses:
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Kainos
Kainos is a London-based technology business that provides information technology services, consulting, and software solutions.
The Kainos share price surged from around 2016 to 2021, but this year, it is down over 20%. Even so, Kainos’ latest update was positive, with its customers continuing to invest in digital projects.
Kainos uses a broad range of AI-driven techniques to help companies “solve complex operational challenges.” In its 2022 results, KNOS said it continues to invest in the area to further build out its capability.
The KNOS website states: “Our data scientists operate in multidisciplinary teams, applying their knowledge across machine learning engineering, technical architecture, and data engineering in the cloud to help you accelerate the business value you generate from machine learning projects.”
Experian
Data analytics and consumer credit reporting firm Experian is headquartered in Dublin, Ireland. The company provides data and insights for businesses to help them mitigate risks and improve profitability. The type of business Experian is puts it in the perfect place to utilise AI.
EXPN uses AI analytics and machine learning solutions in many of the industries it serves, including healthcare, mortgage, public sector, telecommunications, and financial services. Even before AI became mainstream, Experian used it to improve its offerings. In 2021, Experian won the AI Excellence Award, with its decision analytics “recognized as a winner of the Artificial Intelligence Excellence Award program by Business Intelligence Group for its credit and collections decisioning solution, PowerCurve.”
Ocado
Ocado, best known as an online supermarket, also has a grocery technology division. The automation-focused technology company licenses its grocery technology to other vendors, with clients such as Kroger, Lotte, Morrisons, and Coles.
OCDO uses AI in various parts of its business, including making millions of calculations per day to help manage stock levels and limit waste. In addition, it utilises automated picking at its automated customer fulfilment centre in Erith, UK, while also employing its AI technology to search for the most efficient delivery routes for its drivers.
Final Thoughts
In the grand scheme of things, AI is just beginning to unlock its full potential, and the opportunities for growth and transformation could be vast. As the AI landscape evolves, staying informed and adaptable will be key to capitalising on investment opportunities in the space.
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