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One of the hottest investment trends to jump on at the moment is machine learning stocks to buy. Valued at about $79.3 billion at the moment, its expected to balloon to$503.4 billion by the time 2030rolls around, according to Statista.

All thanks to demand for accurate prediction and better decision making for companies and governments of all sizes. Were also seeing machine learning companies pop up in healthcare, finance, security and retail to name a few industries.

Along the way, machines will learn from historical data, identify patterns, and make logical decisions with little to no need for human interaction. Look at healthcare, for example. Its helping with faster data collection through wearables that machines can learn from. Its helping with accelerated drug discovery and development.

Plus,as noted by BuiltIn.com, By crunching large volumes of data,machine learning technology can help healthcare professionalsgenerate precise medicine solutions customized to individual characteristics. Machine learning models can also predict how patients react to certain drugs, allowing healthcare workers to proactively address patients needs.

We could easily go on. But you can see why were excited about machine learning, and the significant impact it will have on just about everything.So, how can we profit from it all? Here are three machine learning stocks you may want to buy.

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The last time I mentionedLantern Pharma(NASDAQ:LTRN), it traded at $5.25on May 1.

At the time, I noted, An artificial intelligence company, its helping to transform the cost and speed to oncology drug discovery and development with itsAI and machine learning platform, RADR.With the help of machine learning, AI and advanced genomics, its platform can scan billions of data points to help identity compounds that could help cancer patients.

Now trading at $6.46, theres even more to get excited about.

For one,Lantern just received regulatory approval to expand its Harmonic trial,a Phase 2 trial thats evaluating LP-300 fornon-small cell lung cancer, or NSCLC, in people that have never smoked in Japan and Taiwan. About athird of all lung cancer patientsin East Asia have never smoked, with numbers still rising.

With the expanded study, it can accelerate the collection of patient and response data needed for the development of LP-300. And if successful, the treatment may be able to help treat relapsed and inoperable adenocarcinoma of the lung in combination with chemotherapy.

Its also working with French biotech company,Oregon Therapeuticsto developprotein disulfide isomerase, or PDI, inhibitor drug candidate XCE853. Lantern will use its RADR AI platform to uncover biomarkers and efficacy-associated signatures of XCE853 across solid tumors that can aid in precision development,as noted in a company press release.

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We can also look atExscientia(NASDAQ:EXAI), an AI-driven precision medical company thats accelerating drug development and reducing the time to get it to market.

In fact,as noted by the company, Exscientia developed the first-ever functional precision oncology platform to successfully guide treatment selection and improve patient outcomes in a prospective interventional clinical study, as well as to progress AI-designed small molecules into the clinical setting.

At the moment, the company in still in Phase 1/2 studies for GTAEXS617, a potential best in class CDK7 inhibitor for the treatment of solid tumors. The company expects to move into a combination phase of the trial by the second half of the year.

In addition,EXS74539 is the companys LSD1 inhibitorand is currently making its way through IND-CTA-enabling studies (investigational new drug-clinical trial application). With it, EXAI plans to submit an IND or CTA by the third quarter of the year. It also has a goal to initiate a Phase 1/2 trial for acute myeloid leukemia (AML) patients by the end of the year.

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Or, if you want to diversify with AI-focused companies that will benefit from AI and machine learning, theres theRoundhill Generative AI & Technology ETF(NYSEARCA:CHAT).

With an expense ratio of 0.75%, the ETF holds 50 related stocks, such asNvidia(NASDAQ:NVDA),Microsoft(NASDAQ:MSFT),Alphabet(NASDAQ:GOOG),Meta Platforms(NASDAQ:META),Advanced Micro Devices(NASDAQ:AMD), andAdobe(NASDAQ:ADBE) to name a few. All of which stand to benefit from the artificial intelligence and machine learning story.

Even better, I can buy 100 shares of CHAT for about $3,500, and gain exposure to those 50 holdings. Thats far better than buying just one of its holdings lets say 100 shares of just NVDA for about $95,000.

With the ETF, youre diversified and all your eggs arent in just one basket.

On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.

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The 3 Best Machine Learning Stocks to Quadruple Your Money by 2035 - InvestorPlace