The Livetiles Ltd (ASX: LVT) share price has rocketed higher in afternoon trade following the release of an extremely positive announcement.
At the time of writing the software company’s shares are up 35% to 31 cents.
What was announced?
This afternoon LiveTiles advised that it has joined forces with Microsoft in the fast-growing artificial intelligence (AI) market.
According to the release, the company has launched a campaign with Microsoft to roll out its AI technology through the latter’s major channels in the United States.
The program will allow Microsoft customers to take their first step into the AI world through LiveTiles Bots. Microsoft will promote LiveTiles Bots as a solution that demystifies AI technology and can be quickly deployed within its Azure platform to mid and large-sized organisations in the United States.
Management has stated that this initiative is just one component of LiveTiles’ broader strategy to secure a leadership position in the rapidly emerging AI industry.
Should you invest?
I think LiveTiles is one of the most exciting small-cap tech shares on the local share market. Given its small size, it has the potential to grow significantly should it manage to secure a leadership position in the AI industry.
Overall, I think LiveTiles is well worth considering as an investment today alongside other tech star Appen Ltd (ASX: APX).
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Appen Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.