We recently compiled a list of 10 trending AI health stocks. In this article, we’ll take a look at how Oracle Corporation (NYSE:ORCL) stands compared to other hot AI health stocks.
The economic impact of AI is expected to be particularly large in regions such as China and North America, where GDP is expected to increase by 26% and 14.5%, respectively, to reach $10.7 trillion by 2030. Masu. This surge is also reflected in the healthcare sector, where AI is driving innovative growth. According to SNS Insider, the artificial intelligence market in healthcare was valued at USD 22.5 billion in 2023 and is projected to reach USD 370.14 billion by 2032, growing by a staggering 36.5% from 2024 to 2032. Expanding at a CAGR of This explosive growth is fueled by the increasing role of AI in revolutionizing healthcare through innovations in diagnosis, treatment, and operational efficiency.
The World Economic Forum also points out that the potential for AI in healthcare is particularly promising given the global shortage of medical professionals predicted to reach 10 million by 2030. AI can automate daily tasks, reduce the administrative workload of doctors, and reduce the burden on medical professionals. This allows for faster and more accurate diagnosis. This has sparked strong investments from both the public and private sectors around the world, making AI a key technology in the future of healthcare finance.
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Integrating AI into healthcare not only increases efficiency, but also improves patient outcomes through more accurate diagnosis and personalized treatment. Companies responded by investing heavily in AI research and development, and mergers and acquisitions accelerated the pace of innovation. As the adoption of AI in the healthcare sector increases, experts are highlighting the potential for even greater transformation. AI research pioneer Andrew Ng said, “AI will fundamentally change the healthcare environment, improving diagnostic accuracy and optimizing patient care while reducing costs.”
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our methodology
In this article, we have selected trending health stocks where AI products are driving significant revenue growth. These stocks are also popular among hedge funds.
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Oracle Corporation (NYSE:ORCL)
Number of hedge fund holders: 93 people
Oracle Corporation (NYSE:ORCL) provides products and services for enterprise information technology environments around the world. Acquired by Oracle in 2022, Cerner has long been a leading healthcare IT company and is now leveraging Oracle’s cloud-based AI capabilities to power its electronic health record (EHR) systems. AI plays a key role in predictive analytics and clinical decision support tools within Cerner’s EHR systems, helping healthcare providers improve patient outcomes by predicting disease risk and streamlining clinical workflows. It will be.
Cerner delivered $1.5 billion in revenue for Oracle Corporation (NYSE:ORCL) in its most recent quarter, driving growth for the enterprise software giant. The healthcare IT company also generated $5.9 billion in revenue for Oracle’s fiscal year 2023, which ended May 31. Oracle’s revenue reached a record $50 billion last year, driven by growing demand for its cloud products from companies deploying AI.
Overall, ORCL ranks #1 on our list of hot AI health stocks to buy. While we acknowledge ORCL’s potential as an investment, we believe some AI stocks are more likely to deliver higher returns and do so in a shorter time frame. If you’re looking for AI stocks with more promise than ORCL that trade at less than 5x earnings, check out our report on the cheapest AI stocks.
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Disclosure: None. This article was originally published on Insider Monkey.