Propense.ai Scores Landmark Investment from Thomson Reuters as AI Drives B2B Sales

The AI Revolution is Still BloomingBy now, investors are aware of the AI revolution thanks to the overwhelming success of OpenAI and Microsoft’s (MSFT) ChatGPT chatbot. Though monetization has been slow and has not been fully realized, the scorching hot user growth of applications like ChatGPT (and its massive valuation) and Alphabet’s (GOOGL) Gemini have driven investment by “Magnificent 7” companies. Even while interest rates were high last year, Mag 7 companies like Meta Platforms (META) continued to leverage their massive balance sheets to buy as many high-tech Nvidia (NVDA) chips as possibleto train their large language models (LLM) and get a piece of the ballooning AI market. The best evidence to support the thesis that the AI revolution is not slowing any time soon can be found in the Zacks Consensus Estimates for Nvidia, which shows that Wall Street analysts believe NVDA earnings have room to more than double in 2025.Image Source: Zacks Investment ResearchAI Opportunities: Looking Beyond the Mag 7Until now, Mag 7 companies have enjoyed much of the spotlight due to multi-trillion-dollar valuations, soaring stock prices, and client-facing applications. However, beneath the noise of the Mag 7 AI hype train, smaller companies like Miami start-up Propense.ai are beginning to carve out their niche – and savvy investors are taking notice. If you recall, I wrote about Propense.ai in March when the company first scored the investment needed in its seed round. Fast forward seven months, and the leading professional services company is looking to get a piece of the AI market by investing in the company.Propense.ai Company OverviewPropense.ai is a Software as a Service (SaaS) platform that allows businesses, particularly professional services firms like law and accounting firms, to recognize and capture new business within their existing client base. The Miami-based company leverages artificial intelligence to examine a company’s existing data on its clients and market trends to forecast which clients will likely need additional services or products. In other words, instead of guesswork and unsolicited offers, Propense allows businesses to reach out to clients with relevant offers, increasing their chances of closing deals and increasing revenue.Though Propense was seeded only a mere handful of months ago, it’s already delivering real-world results. A press release from the company states the following:“The AI-powered B2B cross-selling platform has engaged over half of the top 100 CPA firms and has identified $33 billion in uncaptured revenue for professional service firms.”Despite Propense’s brief history, the company announced today that it scored a significant investment from Thomson Reuters Ventures, which is backed by Canadian multinational Thomson Reuters (TRI).Thomson Reuters Dives into AI with Propense.ai InvestmentIn 1995, Elon and his brother Kimbal Musk worked on their online version of the Yellow Pages called Zip2. After the two entrepreneurs pitched the CEO of Yellow Pages, he famously threw a Yellow Pages book at them and screamed, “You’ll never replace this!” Meanwhile, Blockbuster Video could have bought the then up-and-coming streaming service Netflix (NFLX) for a small sum but famously decided not to, leading to the total disruption and bankruptcy of the company. History teaches us the power of disruption – either innovate and embrace new technology, or become obsolete. The AI revolution should be no different. Today, Thomson Reuters Ventures announced a significant investment in Propense to accelerate AI adoption and innovation in the professional services sector.”“Collaborating with Thomson Reuters Ventures gives us the market access, professional services expertise, and strategic support to deliver data-driven insights to even more accounting and legal professionals who want to exceed client expectations and expand their clients’ relationships with the firm.” ~ Timothy Keith, CEO and Founder of Propense.Thomson Reuter’s investment in Propense.ai is more than just an attempt to gain exposure to the hot AI industry. Because the Canadian multinational is already the leader in professional services, Propense’s tools should immediately impact the business positively. Meanwhile, Propense.ai will leverage Reuter’s deep Rolodex to onboard new clients.Bottom LineThe AI revolution is still in the early innings but most of the focus has been on big tech stocks up until now. While Mag 7 names will continue to perform well, investors should pay close attention to up-and-coming AI solutions like Propense.ai that will have real-world impacts on firms like Thomson Reuters.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Microsoft Corporation (MSFT): Free Stock Analysis Report Netflix, Inc. (NFLX): Free Stock Analysis Report NVIDIA Corporation (NVDA): Free Stock Analysis Report Thomson Reuters Corp (TRI): Free Stock Analysis Report Alphabet Inc. (GOOGL): Free Stock Analysis Report Meta Platforms, Inc. (META): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks