Artificial intelligence (AI) Penny Stocks Watchlist: AITX, INUV, PBTS, AMST

Artificial intelligence (AI) is a fast-growing sector that is still in the nascent stages of development and there could be enormous upsides for investors if they can identify the long-term winners from among penny stocks. It is a high risk but high reward since many of the companies are involved in offering niche AI-powered services and platforms.

Many of the companies in this category are not as resourceful on a financial level and profits are low as well. Some of the services being offered may not have proven track records either. However, the correct bet may lead to significant gains.

Artificial Intelligence Technology Solutions (OTC:AITX) – Artificial Intelligence Technology Solutions is a major player in the security and guarding industry worth $25 billion. The stock is trading at a competitive price range. The company operates an innovative solution-as-a-service business model through its AI-powered security products.

The company’s fully owned subsidiary unit Robotic Assistance Devices Inc (RAD) is also the leader which provides innovative security solutions powered by AI. The products from RAD allow businesses to make savings in the 35% to 80% range in comparison traditional manned security model.

In essence, it provides security solutions that minimize the presence of humans in environments where automation could be effective. RAD has a strong sales pipeline and country 35 companies from Fortune 500 list among its sales. The company appears well-positioned to generate recurring revenues.

The financial costs of patrolling and guarding are alleviated considerably through the products offered by the company and RAD. The products are also capable of functioning across a range of industries starting from education, healthcare, and critical infrastructure to government, transportation, and enterprises.

On June 22, Artificial Intelligence Technology Solutions and RAD made a joint announcement about a fresh order. The order had been placed by a recently signed authorized dealer for 4 AVA access control solutions and 5 ROSA security devices. The dealer had demonstrated the solutions from RAD at a regional conference focusing on the retail industry. It had also been conveyed that the companies at the conference had also expressed significant interest in ROSA since it provided a cost-effective security layer to retail properties.

“When RAD on-boards a new dealer, we extend every possible effort to help them hit the ground running,” said Mark Folmer, CPP, PSP, FSyI, President of RAD. “We provide new dealers with demo units, sales training, marketing materials, event support, and whatever they believe will help them successfully launch RAD to their clients. In this case, all that support certainly has paid off.”

Two days prior to that, the company had announced that it had booked multiple orders making up 19 security devices from a leading national dealer. The order consisted of 11 ROSA security devices, 2 SCOT towers, and 6 AVA access control solutions. Out of those, seventeen units, consisting of 6 AVAs, 2 SCOT towers, and 9 ROSAs, would be deployed with a single client based out of the Midwest.

The two other ROSA units would be deployed with a large parking structure situated on the east coast. While the identity of the end users were not revealed by the company owing to confidentiality agreements, it did indicate that the 17 units would be deployed with a Fortune 500 company, which is a global name in the brewing industry.

Inuvo Inc (NYSEAMERICAN:INUV) – The company is best known for its IntentKey AI solution which dwells on the application of AI in the multibillion-dollar e-commerce industry. The solution is innovative since it does not help advertisers target consumers in traditional ways but in terms of the individual interests of each consumer.

The company claims that IntentKey seeks to transform advertising from a ‘who-based’ approach, based on purchasing history, to a model based more intently on ‘who’ the customers are individuals. The solution provides insights to advertisers about why a customer may not be going ahead with a particular purchase. The e-commerce giant Amazon is one of the many companies in the industry to have started leveraging the service.

On May 30 Inuvo had closed the previously announced registered direct offering that fetched the company gross proceeds of $4 million. Fees for the placement agent and other relevant expenses related to the offering were to be deducted from the proceeds. The company offered 16,000,000 shares of its common stock with a par value of $0.001 per share for the price of $0.25 each. The company revealed that it was going to use the proceeds from the offering for working capital needs and other general corporate needs.

Powerbridge Technologies Co Ltd (NASDAQ:PBTS) – It is one of the leading technology providers for a range of industries and makes for an interesting case study. It offers IoT platform services, software applications, platform applications, and intelligent devices to those industries. On June 13 Powerbridge Technologies Co Ltd announced that it had been awarded a second contract by the global smart device manufacturing company OPPO.

As per the contract, OPPO would deploy the company’s Customs Clearance Systems for its export operations in Southeast Asia. The system offered by Powerbridge is known for providing efficient import and export management solutions. It will help OPPO in digitizing its cross-border trade operations in the region. The system helps with optimizing efficiency and stringent adherence to trade regulations.

The company also completed the closing of its 1 for 30 share consolidation of its ordinary shares and it went into effect immediately following the end of trading on the NASDAQ Capital Market on June 8, 2023. Due to the consolidation, each block of 30 shares held in Powerbridge was automatically converted to a solitary share. However, the consolidation was not going to affect the rights of the ordinary shares in the company.

Amesite (NASDAQ:AMST) – The technology company provides educational institutions, government bodies, and enterprises with online learning platforms. The platforms are powered by artificial intelligence which helps in providing a customized learning experience. The overarching aim of Amesite is to make education far more accessible to anyone at any place and at any time.

The company’s learning platform also boasts a 99% retention rate for the education and business markets. On June 15, Amesite announced the launch of professional upskilling courses in collaboration with Central Michigan University. Some of the topics that would be offered include Workplace Wellness and ‘Introduction to Additive Manufacturing – 3D Printing’ among others. The courses are designed to help industries and business professionals with the skills which are in high demand in the global marketplace.

Last month the company made a joint announcement with the National Association for Equal Opportunity in Higher Education (NAFEO) about the successful delivery of the first pilot program they had created through their collaboration. The program was provided by Amesite to Benedict College, which had been a member of the alliance. The pilot provided upskilling in technology in an introductory course titled ‘World of Digital Technology’.

Jon Williams

Jon graduated from the University of Michigan with a degree in finance. He is an avid investor and enjoys reporting on the markets. When he is not in front of a computer he enjoys playing golf and watching basketball.