C3.ai ( AI Quick Quote AI - Free Report) recently announced partnership with NCS, a technology services provider, to deliver enterprise AI solutions to clients in Southeast Asia (SEA) and Australia/New Zealand (ANZ).
These services will be delivered across industries such as financial services, telecommunications, government, transportation and others.
This partnership marks C3.ai’s first foray into the telecommunications industry. The company’s applications will also be distributed across other telecommunication networks like Singtel, Optus and others, which will strengthen its presence in the industry. Increasing Client Base To Aid Growth
C3.ai is benefiting from an increasing adoption of its services including C3 AI Suite, C3 AI Ex Machina and C3 AI CRM.
The company specializes in developing enterprise AI software. Per Mordor Intelligence report, the enterprise AI market is expected to witness a CAGR of 52.17% during the forecast period 2021-2026. The company has expanded into multiple industries such as defense and intelligence, financial services, manufacturing, oil & gas and others, and continues to accelerate customer expansion. New enterprises that deployed C3.ai’s applications include Bank of America ( BAC Quick Quote BAC - Free Report) , Standard Chartered Bank ( SCBFF Quick Quote SCBFF - Free Report) , Koch Industries and others. In the fiscal fourth quarter 2021, C3.ai’s total enterprise AI customer count was 89, which reflects an increase of 82% year over year. Earlier this month, C3.ai announced that more than 25 organizations including Con Edison, Stanford Medicine and the HIVE Lab at George Washington University had adopted its no-code solution — C3 AI Ex Machina, which is expected to aid top-line growth in the near term. Further, the company expanded agreement with United States Air Force (USAF) to deploy the C3 AI Suite to support maintenance and drive digital transformation across the Air Force. It also expanded deal with Shell for five years to accelerate the deployment of the C3 AI Suite across Shell. Markedly, C3.ai recently announced that its alliance with Baker Hughes ( BKR Quick Quote BKR - Free Report) -BakerHughesC3.ai (BHC3) will be used to enhance KBC’s portfolio. KBC is a subsidiary of Yokogawa Electric Corporation that provides software for energy, chemical and oil and gas operations. Moreover, it continues to broaden and enhance the features and capabilities in its applications to enhance user experience. This is expected to increase adoption of C3.ai’s solutions by consumers in the long term. Recently, C3.ai partnered with Snowflake to provide next generation enterprise AI solutions. Per the agreement, customers of Snowflake will have access to the C3 AI Suite, pre built C3 AI applications and AI-based CRM. Also, the C3.ai’s clients will benefit from Snowflake’s unique services that enable customers to run their data platforms smoothly across multiple clouds and regions at scale. Notably, increased expansion and growing client adoptions are expected to aid this Zacks #3 Rank (Hold) company’s performance in the long term. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Time to Invest in Legal Marijuana
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