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Fair Isaac (FICO) Increases Potential With 12 Patent Grants
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Fair Isaac (FICO - Free Report) has built a culture of innovation to develop unique IP and AI optimization, digital decisioning, machine learning (“ML”) applications and other analytics technologies. These innovations have helped transform customer experiences and business outcomes at large.
The adoption of AI-powered enterprise solutions has been strong in recent times. FICO announced that it had been awarded 12 patents in AI and ML technology, digital decisioning and blockchain model governance.
New patents exhibit innovation and creation under the unique IP industry, helping enterprises to make more timely and accountable decisions.
The 12 new patents briefly target Efficiency in the association of entities, Blockchain development, Dynamic ML models, Facial Recognition for security, personalization, efficient and reliable decision making and detection and prevention of money laundering.
FICO’s patent portfolio consists of 213 active patents, with an additional 80 patents filed and pending.
In second-half 2022, FICO was awarded 11 new patents which focused on fraud analytics, ethical AI, ML and digital decisioning. The aim was to build effective AI decisioning systems and leverage purpose-driven AI and ML algorithms.
Strong Partnerships to Aid FICO’s Product Line
FICO continues to focus on its innovative capabilities and dedicating resources to its products and market penetration on the FICO platform. Its mission-critical nature is well reflected in its strong net retention rate of current customers.
FICO is riding on a strong product portfolio, providing smarter decision-making capabilities, streamlining operations and improving the overall experience of its partners and clients.
It has a strong partner base with notable enterprises like Amazon (AMZN - Free Report) and CISCO Systems (CSCO - Free Report) , creating opportunities to provide comprehensive solutions to their clients.
FICO’s partnership with Amazon’s cloud arm, Amazon Web Services, enables companies to obtain large-scale cloud computing capacity instead of running it on their servers. This collaboration offers FICO’s cloud customers to achieve greater business agility, improved capabilities in AI and ML and analytics.
Its partnership with CISCO has helped organizations tackle IT complexity by delivering a firm solution to their joint customers. FICO’s Decision Management Suite was made available on CISCO UCS thereby aligning decision management with IT capabilities.
What Awaits FICO’s Shares in 2023?
FICO shares have gained 56.7% in the past year compared with the Zacks Computer and Technology sector’s fall of 13.2% over the same time frame.
The outperformance can be attributed to its mission-critical solution platform, leading innovations and diversification across different credit verticals.
However, BigBear.ai (BBAI - Free Report) , a leading provider of AI, ML, cloud-based big data analytics and cyber engineering solutions, can be a potential competitor, which may hurt FICO’s prospects.
FICO’s revenues reported a 7% year-over-year increase and totalled $345 million in first-quarter fiscal 2023. BigBear registered a 21% year-over-year revenue increase, which amounted to $40.4 million in fourth quarter 2022.
The Zacks Consensus Estimate for second-quarter fiscal revenues is pegged at $377.31 million, indicating 5.63% growth from the year-ago quarter’s reported figure.
The consensus mark for second-quarter fiscal 2023 earnings remained unchanged at $5.20 per share in the past 30 days.
FICO raised its guidance for fiscal 2023. It expects total revenues of $1.463 billion, suggesting a 4.5% growth over fiscal 2022. Earnings are pegged at $19.43 per share.
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Fair Isaac (FICO) Increases Potential With 12 Patent Grants
Fair Isaac (FICO - Free Report) has built a culture of innovation to develop unique IP and AI optimization, digital decisioning, machine learning (“ML”) applications and other analytics technologies. These innovations have helped transform customer experiences and business outcomes at large.
The adoption of AI-powered enterprise solutions has been strong in recent times. FICO announced that it had been awarded 12 patents in AI and ML technology, digital decisioning and blockchain model governance.
New patents exhibit innovation and creation under the unique IP industry, helping enterprises to make more timely and accountable decisions.
The 12 new patents briefly target Efficiency in the association of entities, Blockchain development, Dynamic ML models, Facial Recognition for security, personalization, efficient and reliable decision making and detection and prevention of money laundering.
Fair Isaac Corporation Price and Consensus
Fair Isaac Corporation price-consensus-chart | Fair Isaac Corporation Quote
FICO’s patent portfolio consists of 213 active patents, with an additional 80 patents filed and pending.
In second-half 2022, FICO was awarded 11 new patents which focused on fraud analytics, ethical AI, ML and digital decisioning. The aim was to build effective AI decisioning systems and leverage purpose-driven AI and ML algorithms.
Strong Partnerships to Aid FICO’s Product Line
FICO continues to focus on its innovative capabilities and dedicating resources to its products and market penetration on the FICO platform. Its mission-critical nature is well reflected in its strong net retention rate of current customers.
FICO is riding on a strong product portfolio, providing smarter decision-making capabilities, streamlining operations and improving the overall experience of its partners and clients.
It has a strong partner base with notable enterprises like Amazon (AMZN - Free Report) and CISCO Systems (CSCO - Free Report) , creating opportunities to provide comprehensive solutions to their clients.
FICO’s partnership with Amazon’s cloud arm, Amazon Web Services, enables companies to obtain large-scale cloud computing capacity instead of running it on their servers. This collaboration offers FICO’s cloud customers to achieve greater business agility, improved capabilities in AI and ML and analytics.
Its partnership with CISCO has helped organizations tackle IT complexity by delivering a firm solution to their joint customers. FICO’s Decision Management Suite was made available on CISCO UCS thereby aligning decision management with IT capabilities.
What Awaits FICO’s Shares in 2023?
FICO shares have gained 56.7% in the past year compared with the Zacks Computer and Technology sector’s fall of 13.2% over the same time frame.
The outperformance can be attributed to its mission-critical solution platform, leading innovations and diversification across different credit verticals.
However, BigBear.ai (BBAI - Free Report) , a leading provider of AI, ML, cloud-based big data analytics and cyber engineering solutions, can be a potential competitor, which may hurt FICO’s prospects.
FICO’s revenues reported a 7% year-over-year increase and totalled $345 million in first-quarter fiscal 2023. BigBear registered a 21% year-over-year revenue increase, which amounted to $40.4 million in fourth quarter 2022.
This Zacks Rank #3 (Hold) company’s earnings of $4.26 cents per share increased 15% year over year. The earnings beat the Zacks consensus estimate by 3.9%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for second-quarter fiscal revenues is pegged at $377.31 million, indicating 5.63% growth from the year-ago quarter’s reported figure.
The consensus mark for second-quarter fiscal 2023 earnings remained unchanged at $5.20 per share in the past 30 days.
FICO raised its guidance for fiscal 2023. It expects total revenues of $1.463 billion, suggesting a 4.5% growth over fiscal 2022. Earnings are pegged at $19.43 per share.