AI penny stocks offer investors a thrilling opportunity to tap into the fast-evolving artificial intelligence space. AI penny stocks have limited financial resources and modest profits, but their long-term growth prospects are enticing.

AI has been the talk of the town this year, but many of the businesses involved in the sector are tech stalwarts trading at nosebleed valuations.

Investing in the best AI penny stocks to buy might be the best course of action, which boasts the potential of higher rewards due to their higher risk.

AI penny stocks aren’t for everyone. It takes a bold and risk-tolerant investor to navigate the volatile waters of the penny stock market.

These courageous ventures could potentially reap significant rewards in the long run. As AI continues to weave its way into global corporate processes, now may be the perfect time to explore transformative AI stocks.

 Lantern Pharma (LTRN)

Lantern Pharma (NASDAQ:LTRN) might become a major player in the fight against cancer through its AI technologies. This innovative company is harnessing the power of machine learning, AI, and advanced genomics to pursue cutting-edge cancer treatments.

Its platform scans 25 billion data points to help identify beneficial compounds for cancer patients.

Its platform breathes new into life failed drugs of the past by effectively detecting overlooked genomic signatures.

Lantern’s ground-breaking approach offers massive potential for transforming cancer-related treatments. The company is transforming drug delivery costs and timelines using AI.

For instance, the traditional early-stage drug discovery model takes roughly 3 to 5 years, compared to Lantern’s 2 years. The traditional model can take up to 6 to 12 years in the later stages, compared to Lantern’s three to five years.

The costs for both models under Lantern are likely to be down by more than 70% compared to traditional models.

Oblong (OBLG)

Oblong (NASDAQ:OBLG) is a cutting-edge visual collaboration solution provider, essentially redefining virtual meetings with its flagship product, the Mezzanine. This platform facilitates real-time collaboration.

Though not yet deeply rooted in AI, its products hold remarkable potential in harnessing the power of AI, thereby facilitating immersive group chat experiences on an enterprise scale.

AI could be instrumental in user behavior analysis. In fact, Oblong is working with tech giant IBM to develop a cloud surveillance platform that uses AI for enhanced analysis.

As we advance, the worldwide video conferencing market could grow by a bombastic $9.3 billion from 2023 to $17.05 billion by 2030. Therefore, there is massive growth potential ahead with Oblong’s potent business.

OneConnect Financial Technology (OCFT) 

OneConnect Financial Technology (NYSE:OCFT) is a trailblazing fintech solutions provider, empowering its clients with its cloud-based platform and online information services. It effectively uses AI to usher in an era of automation, particularly in the lending sphere.

Its AI-driven software streamlines loan origination, underwriting, and risk management. This helps financial institutions make more informed decisions.

Its solutions enhance customer experiences by offering personalized support through AI-powered virtual assistants.

Over the years, it has grown its top line at an impressive pace; however, its reliance on a few top clients has resulted in a slowdown in sales of late. Two of its biggest customers are Lufax Holding and its parent company, Ping An Group. Its potential to leverage AI and deliver unparalleled value to its clientele is indisputable. If it can diversify its customer base, it could be in for sustained long-term expansion.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines