In a strategic move to bolster its artificial intelligence capabilities, Microsoft Corp. has secured a data access agreement with Informa, a leading U.K.-based publishing and exhibitions firm. The partnership, valued at over $10 million, signifies Microsoft's commitment to advancing its AI systems by leveraging Informa's extensive data reservoirs. This aligns with the tech giant's increasing investments in AI development and infrastructure.
The deal is set to go into effect from 2024 and will extend through 2027, during which Microsoft will access Informa's data to refine and train its AI models. This pivotal collaboration is expected not only to provide new tools for Informa but also to support Microsoft by allowing the company to train its models on specialized data.
The rationale behind this partnership is multifaceted. For Informa, it represents an opportunity to use AI to optimize its operations and align with the upper echelon of its market guidance on revenues, adjusted operating profit, and free cash flow. Post-Covid, Informa has seen a sharp uptick in its global events business, and this agreement is anticipated to play a role in driving the company's revenues towards the nearly £3.5 billion ($4.37 billion) mark projected for the current financial year.
Media groups and AI developers have increasingly forged partnerships, and Microsoft's collaboration with Informa is a testament to this growing trend. By combining their strengths, both companies aim to expand the application of AI within their respective operations, offering a glimpse into the potential of AI to transform various industries.
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Expansion To ServiceNow Agreement, & $3.3bn Wisconsin Investment
This partnership is more than a singular event; it's part of a broader initiative by Microsoft, which includes investments in AI data centres and the development of advanced AI language models.
ServiceNow expansion – In comments at Knowledge 2024 (ServiceNow's annual event) the firms (NOW, MSFT) announced an expanded partnership that will bring their respective AI generative assistants into one “seamless enterprise experience”. The ServiceNow Now Assist and Microsoft Copilot integration is intended to “create value for enterprise workers and for employees to unlock new productivity avenues”. Collaborations such as these are becoming more of a staple for AI expansion, as firms look to optimise the experiences and capabilities outside of their own enterprise.
Investment in the future of AI in Wisconsin- According to Brad Smith, Vice Chair and President of Microsoft, the $3.3bn investment in Wisconsin is intended to “use the power of AI to help advance the next generation of manufacturing companies, skills and jobs in Wisconsin and across the country”.
It is expected that there will be some 2300 jobs created in the manufacturing phase, followed by 2000 in the data centre thereafter. The scope of the investment is relatively broad across the AI sphere, including ” $3.3B in cloud computing and AI infrastructure, the creation of the country's first manufacturing-focused AI co-innovation lab”.
As the company continues to push the boundaries of AI technology, partnerships like the one with Informa are expected to be pivotal in shaping the future landscape of AI applications across various sectors.
Informa Shares (LON: INF) added 2.3% in yesterday's session, whilst SeviceNow (NYSE: NOW) gained 1.16% in the after hours session, adding to the 1.08% seen through regular trading.
Next on the agenda for LYFT holders looking for scheduled comments from the firm will be the investor day on 6th June. A lot can happen in the lead up.
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