PTC, Microsoft & Volkswagen Collaborate on Codebeamer AI Copilot

PTC Inc PTC has teamed up with Microsoft MSFT and Volkswagen Group VWAGY to create the Codebeamer Copilot, a generative artificial intelligence (AI)-powered tool designed to bolster software development in physical products, such as vehicles, by streamlining product requirements management, testing, validation and release processes.PTC is set to launch Codebeamer Copilot (beta version) for certain clients in early 2025.PTC’s Codebeamer is a trusted platform for managing the complexities of software development in physical products. In 2023, VWAGY adopted Codebeamer to streamline software development across its brands and vehicle projects, emphasizing productivity and quality improvements. PTC and VWAGY have partnered with MSFT to elevate the potential of Codebeamer by seamlessly integrating generative AI with Microsoft Azure AI capabilities, aimed at driving innovation with transformative outcomes.PTC highlighted the significance of generative AI in helping customers solve complexities and allowing the company to invest in emerging markets like developing software-defined vehicles efficiently. The collaboration combines real-world expertise from a top manufacturer and cutting-edge AI technology from Microsoft to drive technological progress.PTC Inc. Price and Consensus PTC Inc. price-consensus-chart | PTC Inc. QuoteBoston, MA-based PTC is a software provider offering a range of cutting-edge digital technologies that collectively revolutionize the engineering, production and maintenance of tangible goods. It provides a comprehensive portfolio of software solutions comprising computer-aided design (CAD) and product lifecycle management (PLM). PTC continues to pursue strategic collaborations with tech giants to keep pace with the evolving market demands, driving innovation, efficiency and competitiveness across industries. In September 2024, the company signed a strategic collaboration agreement with Amazon Web Services to grow its Onshape solution. This partnership focuses on enhancing Onshape's features, increasing customer adoption and advancing AI efforts, all to help designers and engineers develop high-quality products faster and more efficiently.PTC continues to gain momentum across its PLM and CAD solutions amid a tough sales environment. In the last reported quarter, revenues jumped 15% year over year to $627 million. Steady growth in recurring revenues and perpetual licenses drove the top-line expansion. The company also shared its strategy to adjust its go-to-market approach, aiming to improve customer service and broaden its market presence.PTC’s Zacks Rank & Stock Price PerformancePTC currently carries a Zacks Rank #2 (Buy). Shares of the company have rallied 25.9% in the past year compared with the sub-industry's growth of 21.2%.Image Source: Zacks Investment ResearchAnother Stock to ConsiderCelestica Inc. CLS sports a Zacks Rank #1(Strong Buy) at present. In the last reported quarter, CLS delivered an earnings surprise of 10.64%. You can see the complete list of today’s Zacks #1 Rank stocks here.The company provides competitive manufacturing technology and service solutions for printed circuit assembly and system assembly, as well as post-manufacturing support to many of the world's leading original equipment manufacturers.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Microsoft Corporation (MSFT): Free Stock Analysis Report Celestica, Inc. (CLS): Free Stock Analysis Report PTC Inc. (PTC): Free Stock Analysis Report Volkswagen AG Unsponsored ADR (VWAGY): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks