The race to dominate synthetic intelligence (AI) has commenced. Final 12 months, OpenAI launched ChatGPT — a platform that makes use of pure language and machine studying to reply queries with stunning effectivity. Now, a number of new AI instruments have popped up that permit customers to generate written content material, photos, movies and even software program code with a easy command. 

These new generative AI instruments are anticipated to revolutionize the world and shift our financial mannequin. Nevertheless, consultants imagine its most notable impression is more likely to be on training and communication. Listed here are two Canadian shares which can be on the forefront of this pattern. 

AI inventory #1

Docebo (TSX:DCBO) is an enterprise training expertise firm. Put one other manner, Docebo supplies software program instruments that assist corporations construct and deploy instructional content material for his or her workers. Take into consideration coaching movies, slideshows about office security and bulletins of latest options and merchandise. When a company needs to speak with its workers, Docebo is a part of the answer. 

Now, the corporate is adopting generative AI to streamline the method of speaking with workers. The corporate’s AI-based Studying Suite helps its purchasers construct slideshows, create movies, and generate photos with easy instructions. The suite additionally contains an AI-powered studying administration system, or LMS, that helps corporations handle all this coaching content material. 

Docebo inventory is up 12% 12 months thus far however remains to be 53% decrease than its all-time excessive in 2021. Docebo’s market worth has been decimated by the tech bear market. That probably creates a possibility for buyers searching for publicity to this new expertise. Keep watch over this AI inventory. 

AI inventory #2

Kinaxis (TSX:KXS) is one more beneficiary of the AI race. The corporate affords a communications platform that helps international logistics corporations work together with one another. The corporate’s RapidResponse platform helps consumers and sellers flag points, handle shipments, present regulatory updates and deal with stock. 

It’s a essential a part of the worldwide provide chain. Now, AI can automate a few of these messages and micro-tasks. As a substitute of messaging individuals and ready for workplace hours in several time zones, logistics corporations can get updates, monitor statistics, and generate responses to purchasers routinely with AI. 

Kinaxis can be utilizing AI expertise to assist its purchasers plan and forecast their enterprise. These instruments can use all of the proprietary information a consumer has to create dependable predictions of provide and demand in order that the method of transport items is extra environment friendly. 

The inventory is up 16.6% 12 months thus far and simply 21% decrease than its all-time excessive. The corporate’s underlying enterprise is prospering. Income was up 44% in its most up-to-date quarter whereas earnings earlier than curiosity, taxes, depreciation, and amortization was up 87% over the identical interval. 

Kinaxis is an underrated and undervalued tech inventory that would profit from the added effectivity of rising AI instruments. Keep watch over this chance.