We recently published a list of Top 9 Latest AI News Updates Investors Shouldn’t Miss. In this article, we are going to take a look at where Carrier Global Corporation (NYSE:CARR) stands against other top latest AI news updates investors shouldn’t miss.

Artificial Intelligence (AI) is already transforming diverse industries, including healthcare, energy, cybersecurity, and communications by boosting productivity, enhancing engagement with clients, and significantly lowering operational overheads.

However, experts believe AI today hasn’t evolved enough to guide scientific processes. As tech giants race to launch AI co-scientist tools to help scientists develop hypotheses and research plans and unravel new knowledge, experts opined that these tools fall short of their promises.

“We’ve seen throughout history that some of the most important scientific advancements, like the development of mRNA vaccines, were driven by human intuition and perseverance in the face of skepticism,” said KhudaBukhsh, assistant professor of software engineering at Rochester Institute of Technology. “AI, as it stands today, may not be well-suited to replicate that.”

While some experts believe these tools could be a good starting point for researchers, the lack of details remains worrisome, raising questions about their potential.

“Those are things that various existing tools are claiming to do, but those are not jobs that I would personally leave up to current AI,” added Lana Sinapayen, an AI researcher at Sony Computer Science Laboratories in Japan. She believes that similar tools focus on the wrong kind of scientific legwork.

We selected AI stocks by reviewing news articles, stock analysis, and press releases. We listed the stocks in ascending order of their hedge fund sentiment taken from Insider Monkey’s database of over 1000 hedge funds.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).

An engineer wearing a hardhat inspecting a newly-installed air conditioner system.

Carrier Global Corporation (NYSE:CARR)

Number of Hedge Fund Followers: 48

Carrier Global Corporation (NYSE:CARR) is a leader in offering intelligent climate and energy solutions.

On March 5th, Carrier Global Corporation (NYSE:CARR) announced that it will collaborate with Google Cloud to improve grid flexibility and support smarter energy management. The initiative will combine Carrier’s battery-enabled HVAC technology—delivered through its Home Energy Management System solutions—with Google Cloud’s AI-based analytics and WeatherNext AI models to create intelligent solutions for residential HVAC energy clients. The partnership will help the energy solutions provider balance energy supply and demand across the grid as well as optimize HVAC operation for higher efficiency, cost savings, and greater availability.

“Our energy systems must evolve to be more intelligent, flexible and economically efficient.By integrating Carrier’s HEMS technology with Google Cloud’s AI and analytics, we aim to help increase the efficiency of existing energy infrastructure—reducing grid congestion, unlocking greater energy utilization and contributing to economic growth.”

-said Hakan Yilmaz, chief technology and sustainability officer at Carrier Global Corporation.

Overall, CARR ranks 2nd on our list of top latest AI news updates investors shouldn’t miss. While we acknowledge the potential of CARR as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CARR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

 

Disclosure: None. This article is originally published at Insider Monkey.