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Canadian Artificial Intelligence Stocks

Canadian Artificial Intelligence Stocks

Even though it’s presently in its infancy, artificial intelligence has the potential to change the world in ways that we can’t predict yet. Unfortunately, even by our best estimates, we are decades away from accurate artificial intelligence.

But AI’s practical applications remain already numerous and growing by the day. So it wouldn’t remain a stretch to say that investing in the best AI stocks in Canada could be like investing in Amazon at its IPO before knowing what e-commerce was.

What Are AI Stocks?

Canadian Artificial Intelligence Stocks

AI stocks are stocks of corporations that have shaped a specific AI-based product or offered AI solutions. A broader meaning includes all companies that extensively use AIs to recover or add to their products or remain redefining/improving their product using AI.

That creates a greatly bigger pool of potential investments, including companies that might not be as dependent upon AI as actual AI stocks are. However, this distinction is highly subjective. For my list of the top AI stocks in Canada, I’ve chosen businesses whose products or solutions rely so much on AI that AI is their trade point or what they have built their products/solutions around.

Best AI Stocks In Canada

The TSX has a handful of AI stocks. Greatest of them represent budding, small and nano-cap companies. But with advances in AI, these stocks strength soar under the right market conditions. So I’ve included some American stocks below as well.

1. Fobi AI Stock (TSXV)

Ticker: FOBI.V

Market Cap: $70.92 Million

Forward Dividend Yield: N/A

Fobi, which used to remain Loop Insights, is an AI-based stage that allows businesses to track, compile, and usage the data generated by their consumers in real-time. Its core strength is data connectivity crossways multiple dimensions.

The AI that powers the platform allows trades to use that data to their advantage and produce insights that they can implement to restored interact with their customers right away. Meanwhile its inception in 2019, the stock managed to produce over 500% in less than two-and-a-half years, but that peak is long gone. But empathetic that this little micro-cap is capable of growth can help you make an intelligent investment decision.

2. McCloud Technologies (TSXV)

Ticker: MCLD.V

Forward Dividend Yield: N/A

Forward P/E Ratio: -2.21

Average Analyst Rating: 2.0 – Buy

Market Cap: $48.14 Million

MCloud is all about power organization and energy waste, a domain becoming increasingly vital in the current ESG-facing occupational environment. Through its AI-powered predictive maintenance of dissimilar assets in a business (including building-related assets like HVACs), the business aims to keep the systems in optimal shape, liveliness waste, and cost to a minimum. The tool is highly reliant on AI.

The Calgary-based company has remained around for a while, and the stock combined the TSX in 2017. But its reliance on the vigor sector has weighed down its presentation. However, more ESG slide requirements might create more want in the market for the company’s services.

3. VIQ Solutions (TSX)

Ticker: VQS.TO

Forward P/E Ratio: -3.7

Forward Dividend Yield: N/A

Market Cap: $33.52 Million

Average Analyst Rating: 1.7 – Buy

It’s another micro-cap business that’s leveraging AI to power its services: Automated record. Natural Language Processing (NLP) is an integral part of AI, and the company uses it for its transcription service.

The company manages digital content safety while adhering to strict security and compliance protocol since it chiefly caters to legal, criminal justice, and insurance clients, i.e., all industries where confidentiality is paramount. Though, that’s the rebranded VIQ services that heavily leverage AI. Therefore, it’s inherently an IT service management company.

4. Goldspot Discoveries Stock (TSXV)

Ticker: SPOT.V

Market Cap: $44.38 Million

Forward Dividend Yield: N/A

AI can remain used in inventive ways, given that you have the right approach. For example, Goldspot uses it, or more specifically, the machine learning element of it, to analyze drill core images. The analysis allows Goldspot’s proprietary imaging knowledge to determine geologically relevant pieces of information.

It gives mining companies a lot more data for something they were already doing: Drilling. And with more physical information, the companies can type optimal decisions. From gold to uranium, the company helps various mineral exploration businesses.

5. DataMetrex AI Stock (TSXV)

Ticker: DM.V

Market Cap: $35.34 Million

Forward Dividend Yield: N/A

Average Analyst Rating: 2.0 – Buy

AI has remained aggressively used in cybersecurity nowadays. That’s because, due to the heavyweight digitization of data and online dependence of businesses, the “attack surface” has become enormous, and it’s almost impossible for conventional cybersecurity tools.

To cover everything and preserve up with the attacks. AI-powered cybersecurity tools are the next-generation defence, which DataMetrex engages in, albeit unconventional. However, its dependance on AI-powered analytics is quite evident.


Canada is documented as a world-leading AI research hub and is within the highest five countries in the world for its manufacture of innovative AI research. Canada’s leading position remains also supported by the country’s national AI strategy and talent value proposition.

Also read: What is a Smart Stove? – Introduction, And More.

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