Microsoft To Drive Digital Overhaul Of Oil & Gas Enterprises
Zacks Investment Research | Nov 20, 2019 06:38AM ET
Microsoft (NASDAQ:MSFT) recently partnered with Baker Hughes (NYSE:BKR) and C3.ai, with an aim to usher in digital transformation in oil and gas enterprises.
The companies intend to facilitate adoption of advanced AI-driven secure, reliable and sustainable solutions to aid the energy industry players in accelerating business processes in this digital age.
The new solutions utilize Microsoft Azure’s robust cloud computing capabilities, Baker Hughes’ technical expertise in energy AI solutions, and C3.ai’s AI platform and applications.
Moreover, the solutions enable inventory optimization, energy management, predictive maintenance, equipment reliability, among other challenges concerning the energy industry. This in turn aids the enterprises to seamlessly deploy scalable AI applications on Azure.
Notably, the latest development comes following the collaboration between Baker Hughes and C3.ai to implement AI in the oilfield. Notably, these two companies will now develop BHC3 AI Suite on Azure, which is a positive for Microsoft.
We believe this deal encourages Azure’s prospects in the energy industry and, is expected to aid Microsoft expand presence in the cloud computing market against Amazon’s (NASDAQ:AMZN) Amazon Web Services (AWS), Alphabet’s (NASDAQ:GOOGL) Google Cloud Platform (GCP), IBM (NYSE:IBM) Cloud, to name a few.
Increasing adoption of Azure to support AI-driven solutions for energy sector provides exposes the cloud platform to this domain, which is a positive.
Further, expanding Azure clientele is instilling investor optimism in the stock. Notably, shares of Microsoft have returned 48.1% year to date, outperforming the Zacks Investment Research
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