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iPhone giant apple (NASDAQ:AAPL) has been in the headlines lately following news that the giant has acquired a Waterloo-based artificial intelligence (AI) company called Darwin AI. This interesting startup is in the business of creating AI software that automates the visual inspection of products during the manufacturing process. In fact, Apple could certainly benefit from such technology, as it aims to improve the quality of every product it makes.
This move definitely shines a bright light on Canada’s technology industry. Canada’s technology industry seems to be full of amazing innovations that aren’t getting the attention of most investors. In fact, it is the US market that has the most support when it comes to technology, and more specifically generative AI technology. There are a number of up-and-coming startups and mega-sized companies innovating in the AI space.
That being said, Canada’s AI and technology industry is not very well-respected. Darwin is certainly not Apple’s only AI acquisition in recent years. In fact, the company has made numerous AI trades, many of which have gone over the heads of everyday retail investors, many of whom believe Apple is far behind in his AI market.
DarwinAI isn’t the only interesting Canadian AI company right now.
Of course, only time will tell when Apple will be ready to roll out its AI innovations to the world. For now, I think it would be a mistake to think that this company is not involved in AI games at all.
With Darwin AI being one of the latest deals, I think it’s time for investors to give AAPL stock the respect it deserves. Additionally, investors may want to check out the TSX tech scene for lesser-known AI innovators that could play a key role in this so-called Fourth Industrial Revolution. Like Apple, there is ample under-represented AI talent in the Canadian tech industry.
So without further ado, let’s check out one of the most interesting AI companies that I think are worth keeping an eye on as the AI boom continues to take hold.
Docebo: LMS company with great AI capabilities
Docebo (TSX:DCBO) is a learning management system (LMS) company that has really started to gain momentum since its stock bottomed out in mid-2022. The stock is up about 35% over the past year on the back of broader technology. rebound. The company is already successfully leveraging his AI capabilities across its platforms. In my opinion, as technology improves, so will Docebo’s moat. From AI-powered personalization to content discovery, the sky is the limit for AI-powered LMS innovators.
The company has also made recent sales moves, including recently acquiring Edugo.AI, a company that powers Docebo’s generative AI capabilities. I expect to see more deals like this in the future, and to see Docebo gain even more traction among Canadian growth investors looking to bet on AI trends.
DCBO stock has a per-share change of about $69, with a forward price-earnings ratio of just under 60. This won’t be cheap, but it could prove to be cheap if it positions itself for the next phase of the AI boom.
