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Cisco (CSCO) Forms Consortium to Highlight AI Impact on Tech
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Cisco Systems (CSCO - Free Report) recently announced the launch of AI-Enabled Information and Communication Technology (ICT) Workforce Consortium. The group comprises eight leading companies including Microsoft (MSFT - Free Report) , Intel (INTC - Free Report) , Accenture, Eightfold, Google, International Business Machines (IBM - Free Report) , SAP and Indeed.
The initiative, catalyzed by U.S. EU Trade and Technology Council’s Talent for Growth Task Force, aims to evaluate the impact of AI on 56 ICT job roles and provide training recommendations for impacted jobs.
The Consortium goals include skilling more than 95 million individuals worldwide over the next decade, with commitments from member companies such as Microsoft to train and certify 10 million people from underserved communities with digital skills by 2025. Intel aims to empower more than 30 million people with AI skills for current and future jobs by 2030.
IBM plans to train 30 million individuals in digital skills, including 2 million in AI skills by 2030. Cisco’s contribution to the consortium includes a commitment to train 25 million people with cybersecurity and digital skills by 2032.
The latest move is in sync with Cisco’s global effort to address the impact of AI on the workforce by forming collaborative efforts among leading companies to provide inclusive upskilling and reskilling initiatives.
Building on this momentum, Google has also declared that it will provide €25 million in funding aimed at bolstering AI training and skills development for individuals throughout Europe. SAP has also pledged to improve the skills of two million people worldwide by 2025.
Expanding clientele has been noteworthy. In addition to the leading tech companies Cisco has also collaborated with NVIDIA, Ford and Banco Bilbao Vizcaya Argentaria (BBVA) to further enhance its portfolio.
In February, Cisco and NVIDIA announced their partnership to deliver data center AI infrastructure solutions. The partnership combines Cisco’s expertise in Ethernet networking with NVIDIA’s GPU technology. It seeks to provide enterprises with easily deployable and manageable solutions for the evolving AI landscape.
Deepening its collaboration with BBVA, Cisco recently signed a Strategic Whole Portfolio Agreement, enhancing BBVA faster access to Cisco’s software and Customer Experience portfolio and streamlining global IT operations.
Cisco also collaborated with Ford Motor Company to announce the integration of the Webex app into select Ford and Lincon vehicles, providing immersive meeting experiences and seamless connectivity for remote work on the go.
However, Cisco’s shares have declined 4.8% against the Zacks Computer & Technology sector’s growth of 14% year to date.
This Zacks Rank #4 (Sell) company’s top-line growth was adversely impacted by the challenges stemming from a cautious economic environment, which included heightened scrutiny of deals by customers, delayed product deployments and reduced overall demand. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
For third-quarter fiscal 2024, revenues are expected to be between $12.1 billion and $12.3 billion. The Zacks Consensus Estimate for revenues is pegged at $12.31 billion, indicating 15.5% decline from the year-ago levels.
Non-GAAP earnings per share are anticipated to be between 84 cents and 86 cents. The Zacks Consensus Estimate is currently pegged at 85 cents, suggesting 15% decline from the prior-year levels.
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Cisco (CSCO) Forms Consortium to Highlight AI Impact on Tech
Cisco Systems (CSCO - Free Report) recently announced the launch of AI-Enabled Information and Communication Technology (ICT) Workforce Consortium. The group comprises eight leading companies including Microsoft (MSFT - Free Report) , Intel (INTC - Free Report) , Accenture, Eightfold, Google, International Business Machines (IBM - Free Report) , SAP and Indeed.
The initiative, catalyzed by U.S. EU Trade and Technology Council’s Talent for Growth Task Force, aims to evaluate the impact of AI on 56 ICT job roles and provide training recommendations for impacted jobs.
The Consortium goals include skilling more than 95 million individuals worldwide over the next decade, with commitments from member companies such as Microsoft to train and certify 10 million people from underserved communities with digital skills by 2025. Intel aims to empower more than 30 million people with AI skills for current and future jobs by 2030.
IBM plans to train 30 million individuals in digital skills, including 2 million in AI skills by 2030. Cisco’s contribution to the consortium includes a commitment to train 25 million people with cybersecurity and digital skills by 2032.
Cisco Systems, Inc. Price and Consensus
Cisco Systems, Inc. price-consensus-chart | Cisco Systems, Inc. Quote
Expanding Portfolio Aids Prospect
The latest move is in sync with Cisco’s global effort to address the impact of AI on the workforce by forming collaborative efforts among leading companies to provide inclusive upskilling and reskilling initiatives.
Building on this momentum, Google has also declared that it will provide €25 million in funding aimed at bolstering AI training and skills development for individuals throughout Europe. SAP has also pledged to improve the skills of two million people worldwide by 2025.
Expanding clientele has been noteworthy. In addition to the leading tech companies Cisco has also collaborated with NVIDIA, Ford and Banco Bilbao Vizcaya Argentaria (BBVA) to further enhance its portfolio.
In February, Cisco and NVIDIA announced their partnership to deliver data center AI infrastructure solutions. The partnership combines Cisco’s expertise in Ethernet networking with NVIDIA’s GPU technology. It seeks to provide enterprises with easily deployable and manageable solutions for the evolving AI landscape.
Deepening its collaboration with BBVA, Cisco recently signed a Strategic Whole Portfolio Agreement, enhancing BBVA faster access to Cisco’s software and Customer Experience portfolio and streamlining global IT operations.
Cisco also collaborated with Ford Motor Company to announce the integration of the Webex app into select Ford and Lincon vehicles, providing immersive meeting experiences and seamless connectivity for remote work on the go.
However, Cisco’s shares have declined 4.8% against the Zacks Computer & Technology sector’s growth of 14% year to date.
This Zacks Rank #4 (Sell) company’s top-line growth was adversely impacted by the challenges stemming from a cautious economic environment, which included heightened scrutiny of deals by customers, delayed product deployments and reduced overall demand. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
For third-quarter fiscal 2024, revenues are expected to be between $12.1 billion and $12.3 billion. The Zacks Consensus Estimate for revenues is pegged at $12.31 billion, indicating 15.5% decline from the year-ago levels.
Non-GAAP earnings per share are anticipated to be between 84 cents and 86 cents. The Zacks Consensus Estimate is currently pegged at 85 cents, suggesting 15% decline from the prior-year levels.