We recently published a list of 15 AI News Investors Shouldn’t Miss. In this article, we are going to take a look at where RingCentral, Inc. (NYSE:RNG) stands against other AI news investors shouldn’t miss.
Generative artificial intelligence has been gaining traction around the world. The latest country to embrace it is Japan. According to The Japan Times, private-sector businesses in the country have begun embracing related information technologies to enhance operational efficiency. GenAI search services, in particular, are proving useful for searching corporate databases.
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The news states how Lion, a leading Japanese consumer goods company, has built a generative AI-powered search system that allows its researchers to search through research reports and conference materials stored in the company’s database efficiently.
“To drive innovation, we need a system that allows researchers to have quick access to technical knowledge when they need it”.
– Shintaro Yamaoka, manager of the digital strategy department
Yamaoka revealed that the time required to locate a desired document has been reduced to an average of one-fifth of that with conventional search systems. The company further states that GenAI is proving beneficial not only for recruits and young employees but also for those transitioning to new workplaces, allowing them to “systematically acquire knowledge in unfamiliar fields”. Even though GenAI comes with its fair share of challenges such as hallucinations and copyright concerns, it also stands to benefit the corporate world in the long run.
In other news, one popular AI chatbot is seemingly facing a technical glitch and preventing it from saying one name in particular: David Mayer. If there is one name in the AI realm that everyone knows about, it’s ChatGPT. The artificial intelligence chatbot has been trained on large amounts of data to create content, including voices, music, pictures, and videos. However, it was recently unearthed by a Reddit user that the AI chatbot is unable to say David Mayer.
According to AI expert Justine Moore, a plausible scenario is that someone named David Mayer went out of his way to remove his presence from the internet. For example, strict privacy laws in the European Union allow citizens to file “right to be forgotten” requests.
For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among 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 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
An enterprise user sending a text message from their smartphone, displaying the company’s messaging and SMS services.
RingCentral, Inc. (NYSE:RNG)
Number of Hedge Fund Holders: 32
RingCentral, Inc. (NYSE:RNG) is a leading provider of AI-powered trusted business communications for companies of all sizes. On December 2nd, the company announced improvements to its Zendesk integration with the launch of a solution called Zendesk Talk Partner Edition for RingEX™. The solution will integrate RingEX’s world-class voice capabilities and rich call data into the Zendesk customer support platform, enabling users to achieve streamlined workflows and actionable insights that personalize customer interactions and offer an elevated support experience. The solution, designed for departmental use, comes with new features such as Voice Comment and Standard Call Object for a cleaner, more structured view of real-time call information, such as call duration and call recordings. Customers will be using AI-driven insights to switch between voice, chat, email, and social media channels without leaving the Zendesk interface.
“RingCentral’s partnership and ongoing innovation with Zendesk propel our goal for delivering immersive agent experiences within the applications they use every day. With the launch of Zendesk Talk Partner Edition for RingEX, our joint customers benefit from enhanced tools for call handling and data management, which ultimately helps them provide a more seamless and satisfying experience for their customers.”
– Joe Fahrner, VP Small Business Growth, RingCentral.
Overall, RNG ranks 11th on our list of AI news investors shouldn’t miss. While we acknowledge the potential of RNG as an investment, our conviction lies in the belief that some 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 RNG but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
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