Artificial intelligence (AI) has been a major trend in 2024. Many believe AI could revolutionize the way humans do business in the future.
While U.S.-listed stocks have been the biggest beneficiaries from this soaring trend, Canada also has some great companies benefiting from AI. If you are looking for some stocks that could enjoy long-term AI tailwinds, here are three quality Canadian stocks.
PRL: An AI platform supporting loan growth
With a market cap of only $870 million, Propel Holdings (TSX:PRL) is a small-cap Canadian stock that should benefit from AI for years ahead. It has developed a proprietary lending platform that utilizes AI to analyze and underwrite loans to the subprime market.
With its platform, Propel can analyze thousands of lending variables. This gives it a significant edge over traditional loan underwriting methods. That prevents loan failure rates and helps deliver strong profitability.
Propel has been…
