Every new technology has a range of outcomes. Some, like the internet, change the world. Others, like 3D printing, not so much, at least not yet. Artificial intelligence (AI) has gotten a lot of hype, but it seems to have the backing of businesses and governments needed to make a tremendous impact over the coming years.

AI could create fantastic new companies over time, but a handful of AI stocks are already racing to the front. These four stocks below have already benefited from an AI boost and still trade at great prices.

Pay attention to what their valuation is versus their expected growth. If you can divide the price-to-earnings (P/E) ratio by the expected growth rate and get under 1.5, the stock could be a reasonable price for the growth you could get. This number, called the PEG ratio, is a Peter Lynch favorite.

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Source Fool.com