Broadcom (AVGO - Free Report) recently launched Automation.ai, an AI-based software platform for supporting decision making processes across different industries.
Large volumes of data often make digital transformation a challenging regime. This can lead to slower decision making. Automation.ai is a unique platform designed to ease complications stemming from the interference of diverse tools and data, and thereby facilitate informed decision making.
Details on Automation.ai
Automation.ai correlates and examines data as well as powers Digital BizOps from Broadcom across different types of operations. Digital BizOps, driven by automation.ai will enable suitable data analysis and combination to generate actionable insights.
The technique harnesses the power of machine learning intelligent automation and internet-scale open source frameworks to transform data. This will enable an integrated approach to enterprise decision-making.
Additionally, the platform will provide AI-driven fully automated analysis, correlation, recommendation and remediation services. Moreover, the platform is based on Fully containerized Kubernetes-based orchestration on public or private cloud. It can operate independently or through an existing AI and machine learning ecosystem.
The utilization of Automation.ai will aid predictive insights for client companies and prevent outages. The process is likely to enhance customer experiences and boost employee productivity, efficiency as well as speed up innovation.
Broadcom Inc. Price and Consensus
AI Ramps Up Digital Transformation
Companies frequently seek innovative techniques to harness the capabilities of data. Smart operational systems, enabled through AI, are becoming an integral part of IT solutions as they increase levels of efficiency by speeding up decision making.
An increasing base of non-IT groups, like application developers and DevOps, are inclining toward Artificial Intelligence in IT operations (AIOps) technologies to surface insights across a multitude of datasets.
According to market guide by Gartner, by 2023 nearly 40% of DevOps teams will utilize AI for augmenting IT operations capabilities.
Along with Broadcom, some of the key players in the AIOps platform are International Business Machines Corporation (IBM - Free Report) , Moogsoft Inc, HCL Technologies Limited, Splunk Inc, CA Technologies and VMware Inc.
Alongside Automation.ai, Broadcom has also added new AIOps capabilities such as an SRE DevOps dashboard, ML-driven recommendation engine, new user journey analysis and enhanced Kubernetes monitoring and Prometheus integration. These new intelligent and auto-remediation capabilities are targeted to reduce errors and enhance user experience.
To conclude, Broadcom’s well-chalked efforts to expand its product portfolio is expected to strengthen presence across high-growth markets like IoT, AI, Automotive, Smart Home and Enterprise. This bodes well for the company.
Zacks Rank & Stocks to Consider
Currently, Broadcom carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are, Synopsys (SNPS - Free Report) and Keysight Technologies (KEYS - Free Report) , each flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for Synopsys and Keysight is currently pegged at 12.8% and 9.1%, respectively.
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