AI and Automation Leaders for 2024: 7 Stocks to Stay Ahead of the Robot Uprising

It’s time for investors to ditch the search for the mythical crystal ball and instead embrace the algorithms when deciphering the best AI stock for your needs. As hyperbolic as it may sound, the future is here, with progress in artificial intelligence occurring at a rapid clip. Best of all, you don’t have to pick an overhyped technology enterprise as this digital innovation has gone mainstream.

Sure, you can always chase your Nvidia (NASDAQ: NVDA ) and its ilk; sometimes, strength begets more strength. But limiting your choice of automation stocks to just semiconductors does a disservice to the robotics revolution. From agriculture to tax preparation to even baking pizzas, your search for the ultimate AI stock can encompass multiple sectors.

While the broader robotics revolution certainly originated in the field of computer technology, the end output – increased productivity and efficiencies – is something that all industries can appreciate. On that note, below are enticing automation stocks to put on your radar. Intuit (INTU) A business software company that specializes in financial products, Intuit (NASDAQ: INTU ) is best known for its tax-preparation programs.

Fundamentally, INTU makes a great case if you’re looking for a relevant AI stock, something that is both practical in the here and now and will remain so for decades, if not centuries to come. After all, nothing is certain in this world except death and taxes. While neither concept is particularly uplifting, Intuit can make life easier for the latter.

Earlier this year, Intuit made headlines when it introduced its generative AI operating system with custom-trained financial large language models . Think ChatGPT but specifically designed to help solve tax, accounting, marketing, cash flow and personal finance challenges. Moving forward, Intuit should command extraordinary relevancies thanks to the burgeoning gig economy .

Since gig workers (independent contractors) operate their own small business, the tax consideration is much more complicated. Intuit will see tremendous demand for its tax-oriented language model. Thus, it’s one of the more exciting ideas for automation stocks.

Domino’s Pizza (DPZ) This one surprised me. Domino’s Pizza (NYSE: DPZ ) as a top AI stock? It makes pizzas. It doesn’t run algorithms for the robotics revolution.

But DPZ is a hidden gem within the automation surge, which tells you everything. The innovation has gone mainstream and there’s no putting this genie back into the bottle. As a TechCrunch article demonstrated, Domino’s leverages AI to help predict when three billion pizzas are ready to go .

Through the company’s DXP platform, the fast-food giant uses digital intelligence to optimize delivery routes. As well, the machines help predict customer demand and personalize marketing campaigns. Further, the company’s ExactOrder protocol leverages AI to assess ingredient usage and optimize inventory in stores.

Best of all, Domino’s has been able to boost productivity, per TechCrunch . So, if you’re wondering about the company’s 13. 3% three-year revenue growth rate (which beats out 84.

1% of its peers), you have your answer. It’s an oddball but DPZ ranks among the automation stocks to buy. Deere (DE) At first glance, Deere (NYSE: DE ) doesn’t seem anywhere close to becoming an AI stock.

Yes, it’s a well-recognized and respected name. However, its core business centers on manufacturing agricultural machinery and heavy equipment. Let’s face it – it’s a type of company that politicians love to highlight because of America and stuff.

But a member of automation stocks to buy? Well, all I can say is, where have you been? While Deere may be an old dog (founded in 1837), it’s eagerly learning new tricks. Specifically, its autonomous tractor leverages a 360-degree camera system, high-speed processors and a neural network. That’s the AI protocol that enables the tractor’s brain to sort images and determine if an area is safe to drive over or not.

Oh and by the way, it calculates all this in about 100 milliseconds, per Deere’s website. If you’re looking for practical automation stocks, DE is it. Tractor overturns is the leading cause of fatal injuries on U.

S. farms . With this practice being automated, Deere can help boost productivity and save lives.

Nike (NKE) An athletic footwear and apparel corporation, Nike (NYSE: NKE ) really needs no introduction. If something involves athletics and it features an audience, chances are, Nike is involved. But is it an AI stock? Truthfully, NKE will always be about sporting apparel and equipment first.

But that doesn’t mean it can’t leverage the innovations of the robotics revolution to boost its bottom line. Fundamentally, the hugely popular brand approaches digital intelligence in a holistic manner . For example, with its Run Club app , Nike utilizes AI to analyze running data and provide personalized trailing plans, recommendations, and performance feedback.

Through Nike Fit, the apparel giant offers an AI-powered foot scan to deliver personalized (and accurate) recommendations. We’ve all had that experience through various e-commerce platforms where it seems different companies have different ideas about how long an inch is. You think it’s 2.

54 centimeters but your oversized or undersized apparel begs to differ. At Nike, it’s using AI to remedy consumer pain points. For that, it’s one of the top automation stocks to buy.

DraftKings (DKNG) Gambling is in the bloodstream of the human race. We can argue about the magnitude but every one of us has had that inkling to speculate. Therefore, it’s no surprise that DraftKings (NASDAQ: DKNG ) has become so popular.

Now, many of us don’t have to earmark a road trip to Las Vegas to feed the urge. Instead, DraftKings brings the casino to us. What’s more, the company goes about its business in a sophisticated manner, making it a surprising AI stock.

Indeed, the Boston-based sports betting company has long used AI in taking bets and targeting advertising to consumers, according to an Innolead publication. Further, DraftKings leverage machine learning models to gather large volumes of data to provide various conveniences. Through its understanding of customer behaviors and betting patterns, the DraftKings app offers more seamless navigation.

Further, its tech enables dynamic pricing; that is, the robots can adjust odds and betting lines in real time based on current game situations and betting activity. Really, the sky’s the limit when it comes to the consumer experience, making DKNG a worthwhile idea. FedEx (FDX) A multinational conglomerate holding company, FedEx (NYSE: FDX ) focuses on transportation, e-comerce and business services.

It’s of course best known for its air delivery service, being one of the first major shipping companies to offer overnight delivery. And while the basic narrative of moving parcel from point A to point B will probably stay the same forever, FedEx is turning to digital intelligence for enhanced efficiencies. According to Supply Chain Dive , FedEx has been tapping into machine learning for the past few years to improve estimated delivery time accuracy .

Anyone who’s had the pleasure (or displeasure) to wait for packages from Amazon (NASDAQ: AMZN ) can relate to the convenience factor here. When Amazon says your shipment will arrive today, it’s often a wide window. When you’re in business, that window needs to shrink.

Combined with the company’s AI-powered language models, FedEx can keep pace with consumer demands instantly. Therefore, it’s a top idea if you’re looking for a higher-risk, higher-reward AI stock. Analysts see shares hitting $305.

65 , which implies a decent upside from here. Crispr Therapeutics (CRSP) A compelling though controversial biotechnology firm, Crispr Therapeutics (NASDAQ: CRSP ) specializes in gene editing. Per its public profile , the company was one of the first to utilize the CRISPR gene-editing platform to develop medicines for the treatment of various rare and also common diseases.

Still, the net narrative is that the biotech firm offers much potential. Subsequently, CRSP gained about 57% in 2023. Part of the success is that CRSP is broadly related to the robotics revolution.

At the scientific level, we’re currently witnessing the marriage between biology and digital intelligence. For example, researchers are able to combine CRISPR technology with proteins designed with AI, thus awakening individual dormant genes that have effectively been chemically silenced. By advancing this tech, CRSP and similar institutions can potentially address vexing diseases and conditions.

While CRSP does offer tremendous relevance among automation stocks, it’s also important to recognize risk factors. Glaringly, CRSP suffers a three-year revenue growth rate of 89. 4% below parity.

That’s worse than almost every other biotech firm. Still, analysts are willing to be patient, pegging shares a moderate buy . As well, their average price target stands at $80.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace. com Publishing Guidelines .

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