One of the lesser-known enterprise technology companies benefiting from artificial intelligence (AI) is (NYSE: NOW). The company specializes in business process automation across a variety of IT services.

Bill McDermott became CEO of ServiceNow back in October 2019 after a long, successful run at SAP. Since then, the stock is up over 160%. A good reason investors have enjoyed such robust returns is that ServiceNow has become on of the prominent players in digital transformation. Utilizing data to make more informed, impactful decisions is becoming increasingly important for businesses of all sizes. While there are a number of dashboarding tools and data analytics providers, ServiceNow has surfaced as one of the leading platforms due to its ever-evolving library of product offerings.

While the stock has been generous to investors for several years now, I think it could just be getting started. In fact, ServiceNow made The Fool's list of most undervalued growth stocks for 2023.

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Source Fool.com