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Arrow Electronics (ARW) Launches AI Tool for Cloud Management
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Arrow Electronics (ARW - Free Report) has introduced ArrowSphere Assistant, an artificial intelligence (AI)-powered tool to help channel partners manage their cloud business more effectively.
This tool, powered by Microsoft (MSFT - Free Report) Azure AI, assists users in making quicker decisions, improving cloud service delivery and identifying new revenue opportunities. By streamlining workflows, it enables partners to generate reports, receive recommendations and turn insights into actionable strategies.
ArrowSphere Assistant equips channel partners with enhanced data and visual tools across various domains, enhancing the efficiency and effectiveness of cloud management on a large scale. It enables partners to identify new business opportunities through daily updates and focused insights, as well as optimize security operations by providing actionable intelligence and remediation suggestions. It also helps partners streamline financial operations by consolidating consumption data, analyzing billing statements and offering clear revenue forecasts and pricing recommendations.
ARW collaborated with Microsoft to develop and scale ArrowSphere Assistant, aiming to address the challenges faced by channel partners. Early feedback suggests that this tool will significantly improve partner performance and profitability by providing deeper insights and simplifying complex tasks.
ArrowSphere Faces Competition in the Cloud AI Market
According to a Mordor Intelligence report, the Cloud AI Market size is estimated at $67.56 billion in 2024 and is expected to reach $274.54 billion by 2029, witnessing a CAGR of 32.37%.
Private as well as government agencies are increasingly embracing cloud AI due to its extensive capabilities, enabling these organizations to tackle large-scale tasks like data mining.
Moreover, initial concerns regarding data privacy hindering cloud adoption are gradually being overcome and are expected to gain momentum. The deployment of cloud AI has evolved in recent years alongside the rise and acceptance of various technologies, such as cloud computing, AI, the Internet of Things and blockchain.
Organizations have capitalized on the competition among major cloud service providers like Microsoft Azure, Amazon’s (AMZN - Free Report) cloud division, Amazon Web Services (“AWS"), and Alphabet’s (GOOGL - Free Report) Google Cloud Platform. These companies utilize the services to deploy large server clusters, implement Hadoop and data lakes, and employ numerous data scientists to enhance their operations.
Microsoft recently forged a fresh multi-year collaboration with Mistral, a French AI startup valued at €2 billion (approximately $2.1 billion). The agreement will allow Mistral's open and commercial language models to be accessible on MSFT's Azure AI platform, making it the second company, following OpenAI, to offer such solutions commercially on Azure.
Amazon Bedrock is a new service designed for constructing and expanding generative AI applications, which are capable of producing text, images, audio and synthetic data in response to prompts. It grants customers convenient access to foundation models from prominent AI startups like AI21, Anthropic and Stability AI, along with exclusive access to the Titan family of foundation solutions developed by AWS.
Google Cloud has unveiled fresh solutions aimed at assisting healthcare and life sciences entities in achieving interoperability, utilizing data analytics and implementing generative AI tools to enhance patient outcomes. Google Cloud's Vertex AI Search for Healthcare is tailored to aid developers in creating improved assistive technology for clinicians and healthcare system staff to alleviate administrative challenges.
Arrow Electronics recently announced the expansion of its ArrowSphere cloud delivery and management system into a comprehensive digital platform for its solution provider clientele, aiming to address competitive challenges. This is expected to aid top-line growth in the upcoming quarters.
The Zacks Consensus Estimate for ARW’s fiscal 2024 revenues is pegged at $29.46 billion, indicating a year-over-year decline of 11.01%. The Zacks Consensus Estimate for 2024 earnings is pegged at $11.53 per share, indicating a year-over-year decline of 32.65%.
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Arrow Electronics (ARW) Launches AI Tool for Cloud Management
Arrow Electronics (ARW - Free Report) has introduced ArrowSphere Assistant, an artificial intelligence (AI)-powered tool to help channel partners manage their cloud business more effectively.
This tool, powered by Microsoft (MSFT - Free Report) Azure AI, assists users in making quicker decisions, improving cloud service delivery and identifying new revenue opportunities. By streamlining workflows, it enables partners to generate reports, receive recommendations and turn insights into actionable strategies.
ArrowSphere Assistant equips channel partners with enhanced data and visual tools across various domains, enhancing the efficiency and effectiveness of cloud management on a large scale. It enables partners to identify new business opportunities through daily updates and focused insights, as well as optimize security operations by providing actionable intelligence and remediation suggestions. It also helps partners streamline financial operations by consolidating consumption data, analyzing billing statements and offering clear revenue forecasts and pricing recommendations.
ARW collaborated with Microsoft to develop and scale ArrowSphere Assistant, aiming to address the challenges faced by channel partners. Early feedback suggests that this tool will significantly improve partner performance and profitability by providing deeper insights and simplifying complex tasks.
Shares of this Zacks Rank #4 (Sell) company have lost 2.8% year to date against the Zacks Computer and Technology sector’s growth of 10.3% due to tough competition in the cloud AI market. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Arrow Electronics, Inc. Price and Consensus
Arrow Electronics, Inc. price-consensus-chart | Arrow Electronics, Inc. Quote
ArrowSphere Faces Competition in the Cloud AI Market
According to a Mordor Intelligence report, the Cloud AI Market size is estimated at $67.56 billion in 2024 and is expected to reach $274.54 billion by 2029, witnessing a CAGR of 32.37%.
Private as well as government agencies are increasingly embracing cloud AI due to its extensive capabilities, enabling these organizations to tackle large-scale tasks like data mining.
Moreover, initial concerns regarding data privacy hindering cloud adoption are gradually being overcome and are expected to gain momentum. The deployment of cloud AI has evolved in recent years alongside the rise and acceptance of various technologies, such as cloud computing, AI, the Internet of Things and blockchain.
Organizations have capitalized on the competition among major cloud service providers like Microsoft Azure, Amazon’s (AMZN - Free Report) cloud division, Amazon Web Services (“AWS"), and Alphabet’s (GOOGL - Free Report) Google Cloud Platform. These companies utilize the services to deploy large server clusters, implement Hadoop and data lakes, and employ numerous data scientists to enhance their operations.
Microsoft recently forged a fresh multi-year collaboration with Mistral, a French AI startup valued at €2 billion (approximately $2.1 billion). The agreement will allow Mistral's open and commercial language models to be accessible on MSFT's Azure AI platform, making it the second company, following OpenAI, to offer such solutions commercially on Azure.
Amazon Bedrock is a new service designed for constructing and expanding generative AI applications, which are capable of producing text, images, audio and synthetic data in response to prompts. It grants customers convenient access to foundation models from prominent AI startups like AI21, Anthropic and Stability AI, along with exclusive access to the Titan family of foundation solutions developed by AWS.
Google Cloud has unveiled fresh solutions aimed at assisting healthcare and life sciences entities in achieving interoperability, utilizing data analytics and implementing generative AI tools to enhance patient outcomes. Google Cloud's Vertex AI Search for Healthcare is tailored to aid developers in creating improved assistive technology for clinicians and healthcare system staff to alleviate administrative challenges.
Arrow Electronics recently announced the expansion of its ArrowSphere cloud delivery and management system into a comprehensive digital platform for its solution provider clientele, aiming to address competitive challenges. This is expected to aid top-line growth in the upcoming quarters.
The Zacks Consensus Estimate for ARW’s fiscal 2024 revenues is pegged at $29.46 billion, indicating a year-over-year decline of 11.01%. The Zacks Consensus Estimate for 2024 earnings is pegged at $11.53 per share, indicating a year-over-year decline of 32.65%.