The Canadian AI stocks on our list are growing through the use of artificial intelligence (AI)
SmallCapPower | January 28, 2021: Consumers interact with artificial intelligence (AI) daily, such as voice recognition through Siri, YouTube video suggestions, and the ads you see on Google all use artificial intelligence and machine learning to provide these services. Many large-cap tech companies have been using AI for the past 10 years, but now the technology is also becoming more common in small-cap companies servicing niche industries. Today we have piled through the data and discovered three small Canadian AI stocks using artificial intelligence to grow their businesses.
*Returns are based on closing stock prices as of January 27, 2021
Kinaxis Inc. (TSX:KXS) – $179.90
Kinaxis is a vendor of SaaS solutions for supply-chain planning. Its software provides customers with a control tower view of their supply chains, highlighting issues that may affect their ability to meet customer demand. It also allows customers to perform scenario analysis, allowing them to determine the impact that different decisions might have on their operations. Kinaxis’s AI-powered software allows clients, which include Ford, Unilever, and Toyota Motors, to transform their supply chain and operations planning capabilities.
Docebo Inc. (TSX:DCBO) – $62.52
Docebo is a cloud-based, AI-powered, e-learning platform and vendor of Enterprise Software as a Service (SaaS) solutions, particularly in the area of employee and customer training. Some of Docebo’s top corporate clients include Uber Technologies, Netflix, Starbucks, L’Oreal, Heineken, and Capital One. During its quarter ended September 30, Docebo reported a 55% growth in its annual recurring revenues, while its average contract value increased by about 25%.
Quisitive Technology Solutions Inc. (TSXV:QUIS) – $1.00
Quisitive is a digital technology consulting firm that provides organizations with Microsoft Cloud (Azure, Dynamics, and Office 365) solutions, as well as proprietary software as a service (SaaS) solutions and cloud data services. Quisitive is one of 35 companies to have earned the “National Solution Provider” designation from Microsoft. Quisitive helps its clients harness the power of the Microsoft cloud and technologies, such as artificial intelligence, machine learning, IOT, and blockchain through customized solutions. Quisitive’s goal is to become the premier Microsoft Solutions provider, and is planning to scale organically and through acquisitions. In early 2020, QUIS closed its acquisition of Menlo Technologies, a provider of Microsoft technology, corporate consulting, and business software and systems.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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