C3.ai ( AI Quick Quote AI - Free Report) recently announced that Ball Corporation ( BLL Quick Quote BLL - Free Report) has selected a couple of its solutions — C3 AI Energy Management and C3 AI Ex Machina — to help the latter achieve its sustainability targets. C3 AI Energy Management solution provides real-time visibility across the entire enterprise and leverages artificial intelligence (“AI”) to provide insights that enable companies to minimize energy consumption, utility costs and carbon emissions. C3 AI Ex Machina (no code AI and analytics platform) is integrated with the underlying energy management data model provided by C3 AI Energy Management solution. Ball aims to achieve 100% renewable electricity globally by 2030, with an interim target of 75% by 2025. This supplier of metal packaging also plans to achieve net zero carbon emission prior to 2050. C3.ai’s solutions will help Ball identify new opportunities that will boost energy efficiency in its operations. Ball aims to reduce absolute carbon emissions within its own operations by 55% by 2030, against a 2017 baseline. C3 AI Energy Management and Ex Machina solutions will provide almost real-time insights during operating hours by integrating data from energy and equipment monitors at each plant (which are IoT devices), and using AI to make actionable predictions. This will help in improving energy efficiency. Expanding Clientele to Aid C3.ai’s Prospects
C3.ai is benefiting from an expanding enterprise user base. The total number of C3 AI enterprise customers at the end of first-quarter fiscal 2022 was 98, up 85% year over year.
C3.ai’s expanding partner base that now includes Alphabet’s ( GOOGL Quick Quote GOOGL - Free Report) Google Cloud and Microsoft ( MSFT Quick Quote MSFT - Free Report) , is helping it to win new customers. The Google Cloud partnership will help C3.ai rapidly reach small, medium and large enterprise customers. With Microsoft, C3.ai has closed business worth more than $200 million, and their joint team is working on a pipeline of projects worth more than $350 million. In partnership with Microsoft, C3.ai has won deals from the United States Missile Defense Agency, Cargill, Ball, Cummins and the United States Air Force Rapid Sustainment Office. Growing enterprise interest in C3 AI CRM is also expected to boost the company’s top line. C3.ai recently announced the general availability of C3 AI CRM, which works seamlessly with Microsoft Dynamics, Salesforce, Siebel, Veeva, ServiceNow, Vlocity, and SAP. The solution helps in making an enterprise’s existing CRM investments completely AI-enabled. C3.ai’s robust portfolio has helped it win new deals in diversified fields like defense, chemicals, financial services, manufacturing, oil and gas, energy, sustainability, and utilities. Recently, C3.ai won a Production Other Transaction agreement from The Missile Defense Agency to aid in enterprise AI development initiatives across the agency. Moreover, C3.ai, along with Baker Hughes, recently deployed BHC3 Production Optimization enterprise AI application at MEG Energy, an Alberta, Canada-based energy company. These deals will boost C3.ai’s top-line growth in fiscal 2022 and beyond. For full-year fiscal 2022, C3.ai expects revenues between $243 million and $247 million. The Zacks Consensus Estimate for the same is pegged at $246 million, indicating 34.3% growth from the figure reported in fiscal 2021. However, declining average contract size and lumpy bookings are expected to hurt C3.ai’s prospects in the near term. Shares of this Zacks Rank #4 (Sell) company are down 64.2% year to date against the Zacks Computers- IT Services industry return of 21.7%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.