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CGI Group (GIB) Boosts Portfolio With Advanced Machine Vision
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CGI Group (GIB - Free Report) is leveraging its expertise in AI with the recent launch of an innovative solution, CGI Machine Vision.
Developed by CGI's AI experts in Australia, this advanced computer vision technology utilizes the power of deep neural network AI and edge-computing to transform asset and infrastructure monitoring across industries.
By extracting data from IoT sensors such as cameras, drones, and other devices, CGI Machine Vision provides real-time and relevant information, eliminating transmission delays and bandwidth concerns.
The solution’s applications span diverse sectors, including utility, transportation and telecommunications, enabling continuous monitoring, predictive analysis, and proactive operational models.
With successful pilots, including in the United Kingdom, CGI Machine Vision stands poised to redefine the landscape of computer vision applications with its adaptability to diverse business challenges.
CGI Group’s shares have returned 22.7% in the past year compared with the Zacks Computer Services industry’s increase of 22.5%. The uptick can be attributed to the successful launch of CGI Machine Vision, showcasing CGI Group’s innovative strides in leveraging AI for advanced asset and infrastructure monitoring solutions.
GIB’s expanding customer base and portfolio strength are expected to drive its top-line growth. It has been selected by the likes of the City of Dallas, U.S. Strategic Command, Scotiabank, and Alimentation Couche-Tard in recent times.
CGI’s momentum continues as it recently secured a contract with the Virginia Department of Social Services to modernize its Child Support Enforcement system, deploying CGI Transcend for Child Support. This platform-based solution enhances efficiency and outcomes through innovative technology and data-driven insights.
In collaboration with Alphabet’s Google Cloud, CGI is set to launch the UNIDO Sustainability Planet Platform.
CGI has been a member of the Microsoft Intelligent Security Association (MISA). This new partnership with MISA gives CGI access to Microsoft's security product line, allowing it to provide clients with higher value and comprehensive security.
Expanding portfolio has been a key growth driver. Aligning with this commitment to cloud technology, CGI launched a cloud-ready enterprise payments solution, CGI All Payments, on Amazon's cloud computing platform, Amazon Web Services (AWS), in November. This partnership with Amazon streamlines payment procedures for banks and offers scalability, ISO 20022 standards compliance, and cloud-based delivery.
CGI’s Outlook Strong
CGI benefits from its proximity-based business model that combines its worldwide network of experts and capabilities with local accountability and end-to-end services for clients. However, the Zacks Rank #4 (Sell) company is suffering from a challenging macroeconomic environment.
The Zacks Consensus Estimate for first-quarter fiscal 2024 revenues is pegged at $2.59 billion, indicating 2.07% year-over-year growth. The consensus estimate for first-quarter earnings is pegged at $1.31 per share, indicating 7.38% year-over-year growth.
Image: Bigstock
CGI Group (GIB) Boosts Portfolio With Advanced Machine Vision
CGI Group (GIB - Free Report) is leveraging its expertise in AI with the recent launch of an innovative solution, CGI Machine Vision.
Developed by CGI's AI experts in Australia, this advanced computer vision technology utilizes the power of deep neural network AI and edge-computing to transform asset and infrastructure monitoring across industries.
By extracting data from IoT sensors such as cameras, drones, and other devices, CGI Machine Vision provides real-time and relevant information, eliminating transmission delays and bandwidth concerns.
The solution’s applications span diverse sectors, including utility, transportation and telecommunications, enabling continuous monitoring, predictive analysis, and proactive operational models.
With successful pilots, including in the United Kingdom, CGI Machine Vision stands poised to redefine the landscape of computer vision applications with its adaptability to diverse business challenges.
CGI Group, Inc. Price and Consensus
CGI Group, Inc. price-consensus-chart | CGI Group, Inc. Quote
CGI’s Growth Prospects Remain Bright
CGI Group’s shares have returned 22.7% in the past year compared with the Zacks Computer Services industry’s increase of 22.5%. The uptick can be attributed to the successful launch of CGI Machine Vision, showcasing CGI Group’s innovative strides in leveraging AI for advanced asset and infrastructure monitoring solutions.
GIB’s expanding customer base and portfolio strength are expected to drive its top-line growth. It has been selected by the likes of the City of Dallas, U.S. Strategic Command, Scotiabank, and Alimentation Couche-Tard in recent times.
CGI’s momentum continues as it recently secured a contract with the Virginia Department of Social Services to modernize its Child Support Enforcement system, deploying CGI Transcend for Child Support. This platform-based solution enhances efficiency and outcomes through innovative technology and data-driven insights.
GIB’s strong partner base, which includes Alphabet (GOOGL - Free Report) , Microsoft (MSFT - Free Report) and Amazon (AMZN - Free Report) , has been a key catalyst.
In collaboration with Alphabet’s Google Cloud, CGI is set to launch the UNIDO Sustainability Planet Platform.
CGI has been a member of the Microsoft Intelligent Security Association (MISA). This new partnership with MISA gives CGI access to Microsoft's security product line, allowing it to provide clients with higher value and comprehensive security.
Expanding portfolio has been a key growth driver. Aligning with this commitment to cloud technology, CGI launched a cloud-ready enterprise payments solution, CGI All Payments, on Amazon's cloud computing platform, Amazon Web Services (AWS), in November. This partnership with Amazon streamlines payment procedures for banks and offers scalability, ISO 20022 standards compliance, and cloud-based delivery.
CGI’s Outlook Strong
CGI benefits from its proximity-based business model that combines its worldwide network of experts and capabilities with local accountability and end-to-end services for clients. However, the Zacks Rank #4 (Sell) company is suffering from a challenging macroeconomic environment.
The Zacks Consensus Estimate for first-quarter fiscal 2024 revenues is pegged at $2.59 billion, indicating 2.07% year-over-year growth. The consensus estimate for first-quarter earnings is pegged at $1.31 per share, indicating 7.38% year-over-year growth.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.