Artificial Intelligence technology is presenting enormous opportunities and poised to lead to the world’s first trillionaires, according to billionaire Mark Cuban. The game-changing technology is already revolutionizing the development of products and services while helping businesses save a whopping $60 billion. Awaiting Covid-19 pandemic dust to settle, Kinaxis (TSX:KXS), Shopify (TSX:SHOP) and BlackBerry (TSX:BB) are already presenting unique investing opportunities around AI technology in Canada.
Shopify and AI in E-Commerce
Shopify (TSX:SHOP) is by far one of the biggest Canadian tech companies with a platform that hosts over 800,000 merchant stores. E-commerce being one of the segment experiencing a boom in business amidst the COVID-19 pandemic, $SHOP is on course to insulate itself as it continues to leverage AI technology.
For starters, #SHOP is already leveraging the game-changing technology to analyze its massive data collection platform. By analyzing the data, the company is able to run analytics and understand the needs of customers better.
The large-scale data flow has seen SHOP leverage various AI technologies such as predictive and prescriptive technologies to enhance e-commerce operations. Conversely, the Canadian tech giant is helping businesses stay competitive in e-commerce.
Following the acquisition of intelligent virtual marketing assistant technology CRM, SHOP is now using AI technology to search, select, and offer merchant credit services to customers. The kit also uses Artificial Intelligence to identify data trends conversely, optimize and automate mission-critical processes.
BlackBerry Software Transition
BlackBerry (TSX:BB) has made a successful transition from a hardware company to a software heavyweight. The security software provider is now poised to reap the rewards of investing big on Artificial Intelligence even as the Coronavirus pandemic continues to bombard the business landscape.
While offering security solutions all over the world, $BB has also expanded its operations into rapidly growing verticals of Internet of Things Healthcare analytics as well as artificial intelligence. Its AI security solutions are increasingly finding great use in protecting small devices such as smartwatch to big objects such as airplanes.
The acquisition of Cylance has gone a long way in strengthening #BB AI solutions. For starters, the company’s AI solutions are already being used to protect other AI systems from vulnerabilities. Demand for the company’s AI-powered security solutions should continue to rise once the COVID -19 dust settles.
Kinaxis Using AI to Enhance Supply Chain
Kinaxis (TSX:KXS) is another Canadian tech giant that is investing vast sums of money in AI to strengthen its cloud-based supply chain management services. The company is already leveraging the game-changing technology to improve its supply chain management predictive capabilities.
AI integration in supply chain solution has allowed $KXS to help organizations around the world revolutionize supply chain planning as well as processes. Its RapidResponse cloud-based supply chain management software is already helping people and businesses connect data and processes in a harmonious environment.
The use of Artificial Intelligence has allowed #KXS to improve the predictive capabilities of its supply chain solutions. The company has already introduced the Self-Healing Supply Chain solution that leverages AI technology to enhance supply chain operations and avoid problems resulting from incorrect information.
