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Microsoft MSFT afresh partnered with Baker Hughes BKR and C3.ai, with an aim to conductor in agenda transformation in oil and gas enterprises.

The companies intend to facilitate acceptance of avant-garde AI-driven secure, reliable and acceptable solutions to aid the activity industry players in accelerating business processes in this agenda age.

The new solutions advance Microsoft Azure’s able-bodied billow accretion capabilities, Baker Hughes’ abstruse ability in activity AI solutions, and C3.ai’s AI belvedere and applications.

Moreover, the solutions accredit account optimization, activity management, predictive maintenance, accessories reliability, amid added challenges apropos the activity industry. This in about-face aids the enterprises to seamlessly arrange scalable AI applications on Azure.

Notably, the latest development comes afterward the accord amid Baker Hughes and C3.ai to apparatus AI in the oilfield. Notably, these two companies will now advance BHC3 AI Suite on Azure, which is a absolute for Microsoft.

We accept this accord encourages Azure’s affairs in the activity industry and, is accepted to aid Microsoft aggrandize attendance in the billow accretion bazaar adjoin Amazon’s AMZN Amazon Web Casework (AWS), Alphabet’s GOOGL Google Billow Belvedere (GCP), IBM Cloud, to name a few.

Increasing acceptance of Azure to abutment AI-driven solutions for activity area provides exposes the billow belvedere to this domain, which is a positive.

 

Further, accretion Azure audience is instilling broker optimism in the stock. Notably, shares of Microsoft accept alternate 48.1% year to date, outperforming the industry’s assemblage of 40.2%.

Immense Scope of AI & Billow Accretion in Activity Vertical

Growing ascendancy of robotics and automated automation technologies in the activity area is fueling acceptance of ML and AI based techniques.

Advanced AI-based solutions are enabling companies to optimize costs as it facilitates use of reliable aliment and anticipation systems with analogously lower investments and reduces accident of failure.

Per Technavio, AI in activity bazaar is projected to attestant a CAGR of over 49%, amid 2019 and 2023. Moreover, per MarketsandMarkets, oil and gas billow applications bazaar is envisioned to hit $9.4 billion by 2024 from $4.9 billion in 2019, at a CAGR of 14.2% amid 2019 and 2024.

The development and deployment of these avant-garde AI-driven activity solutions on Azure belvedere holds affiance for Microsoft in the best haul.

Markedly, antagonism is accumulative as Azure’s aeon including AWS, IBM Billow and Google Billow are abrogation no bean unturned to accomplish the best of affairs of AI and billow accretion in the activity sector.

It is important to agenda that AWS has a committed aperture of able-bodied billow accretion solutions for Oil and Gas companies, including agenda oilfields and High Performance Accretion (HPC) eBook.

Moreover, able-bodied capabilities of IBM Cloud, Watson, AI, IoT and blockchain solutions pertaining to the activity area are enabling companies to finer addition ability and abbreviate expenditure.

Further, GCP enables barter in the oil and gas sector, including Cognite and Veolia, to arrange avant-garde clay and simulation, adviser oil platforms and flush workloads to addition productivity.

Nonetheless, Microsoft’s backbone in Azure, AI, ML and abysmal acquirements capabilities are accepted to accommodate it an bend over peers, with the latest partnership. Notably, per a address from Synergy Research Group, Azure witnessed amplification in accessible billow casework bazaar in third-quarter 2019.

Zacks Rank

Microsoft carries a Zacks Rank #2 (Buy). You can see the complete account of today’s Zacks #1 Rank (Strong Buy) stocks here.

More Banal News: This Is Bigger than the iPhone!

It could become the mother of all abstruse revolutions. Apple awash a bald 1 billion iPhones in 10 years but a new advance is accepted to accomplish added than 27 billion accessories in aloof 3 years, creating a $1.7 abundance market.

Zacks has aloof appear a Special Address that spotlights this fast-emerging abnormality and 6 tickers for demography advantage of it. If you don’t buy now, you may bang yourself in 2020.  

Click actuality for the 6 trades >>

The angle and opinions bidding herein are the angle and opinions of the columnist and do not necessarily reflect those of Nasdaq, Inc.

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