TipRanks: 2 “Strong Buy” Tech Stocks That Are Set to Benefit from the AI Revolution

The market has been infatuated with AI stocks since the launch of ChatGPT last November. It’s become clear that generative AI can provide a massive productivity boost throughout the economy.

But not all AI stocks are created equal. And with the market’s recent selloff, AI names have been hit harder than other stocks. That’s creating an opportunity for long-term investors to buy high growth well off its recent peak.

Looking outside the major tech giants, one strong growth play is Alkami Technology (ALKT).

While a smaller cap play in the AI space, the company provides cloud-based digital banking solutions. That allows banks to improve their performance with digital technologies.

That allows them to manage data at scale, which is a key piece of infrastructure for rolling out AI technologies.

The company can now identify key customer data for improved retention and for upselling additional services.

Another smaller AI place is Procore Technologies (PCOR).

The company focuses on AI tools for the construction industry. With a major construction boom underway thanks to higher infrastructure spending, the company stands to benefit.

The company estimates that its tools can reduce rework on projects by 16 percent, and save 15 days per project. The overall savings can add up considerably given the high labor costs of construction.

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