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AI Eye Podcast 635: Stocks discussed: (NYSE: $AI) (NYSE: $BAH)

C3 AI Strikes $500M Agreement with Department of Defense, and Booz Allen Hamilton Spins Off AI Company Modzy

 

Point Roberts, WA and Vancouver, BC - December 10, 2021 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a global investor news source covering Artificial Intelligence (AI) brings you today's edition of The AI Eye - watching stock news, deal tracker and advancements in artificial intelligence.

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AI Eye Podcast 635: Stocks discussed: (NYSE: $AI) (NYSE: $BAH)

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Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence

Stocks discussed: (NYSE:AI) (NYSE:BAH)

C3.ai, inc. (NYSE:AI) has established a new five-year Production-Other Transaction Agreement with the U.S. Department of Defense (DoD) worth $500 million USD. This allows "any DoD agency to acquire C3 AI products and services for modelling and simulation," allowing it "to rapidly address additional use cases and scale AI applications across all branches of the U.S. DoD." Thomas M. Siebel, CEO of C3 AI, said:

"The new Agreement has a DoD-wide scope, accelerating research projects in simulation and modelling and production deployments for operations and sustainment. We are thrilled to have been selected for these important initiatives and look forward to expanding our work and finding new ways to better serve the U.S. federal government."

Booz Allen Hamilton Holding Corporation (NYSE:BAH) has completed a transaction to spin out its commercial artificial intelligence (AI) platform Modzy into a new company, Modzy, Inc. Josh Sullivan, Modzy's Co-founder and CEO, said:

"Modzy solves the hardest problem with using AI at scale, which is that businesses struggle to deploy and integrate AI into production. Too many models-more than 50%-are developed but never used. Modzy will continue to scale rapidly, building on our existing customer base across commercial markets through expansion of our partner ecosystem and developer community to accelerate AI value creation."

Global AI & Robotics in A&D Market to Reach $36.64B by 2026

A report published by Research and Markets finds that the global AI & Robotics in aerospace and defense (A&D) market is projected to grow from $17.1 billion USD in 2020 to $36.64 billion by 2026, registering a compound annual growth rate (CAGR) of 4.63 percent in the forecast period 2021-2026. An excerpt from the report's description reads:

The ever-increasing application of AI-based technologies in the A&D sector and increasing investments being funneled to develop and integrate AI and machine learning (ML) into the end-user sectors are anticipated to drive the market in focus during the forecast period. However, the associated technical and operational challenges that are often observed during the initial stages of development and adoption of a nascent technology are hindering the adoption of AI-based technologies.

Sam Mowers, Investorideas.com

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