Aiming to speed its multi-cloud approach, Alphabet's (GOOG, Financials) Google Cloud has struck a strategic alliance with Air France-KLM to support the data and generative AI capabilities of the airline company, the firms said Wednesday. Using Google Cloud's analytics and AI technologies, this partnership aims to increase operational efficiency and enhance consumer experiences.
GOOG stock is up 25.7% this year, reflecting its focus on AI initiatives, such as the latest partnership.
Global airline operator Air France-KLM plans to migrate apps from three traditional data centers to the cloud using Google Cloud's technologies, therefore simplifying its data architecture and implementing a multi-cloud strategy. Big Query and other Google Cloud analytics technologies would be very helpful for the airline to have a more exact understanding of customer preferences and enhance tailored travel offers. Predictive analysis will also help the corporation by improving aircraft maintenance efficiency, shortening data processing times from hours to minutes, and thus lowering the environmental effect of its activities.
With 93 million passengers expected for 2023, the airline intends to use these data insights to provide customized travel alternatives and simplify both in-flight and land operations. The cooperation involves the deployment of a specialized and safe generative artificial intelligence cloud instance to enable certain use cases such as airplane maintenance and customer assistance. Aiming to establish a single data lakehouse, Air France-KLM hopes to help its generative AI projects even further.
Aimed at upskilling Air France-KLM's data science, engineering, and product teams to improve their usage of cloud and artificial intelligence technologies, Google Cloud's training programs also include These projects aim to promote data innovation by means of on-site training and events, therefore supporting Air France-KLM in making well-informed data-driven choices.
With a 33.6% rise in third-quarter net profit to $26.3 billion, Alphabet recently revealed strong financial performance above Wall Street estimates. Thanks in great part to developments in artificial intelligence technology, which have raised sales of cloud computing and search engine advertising. Over this time, revenue climbed 15% to $88.3 billion.
These findings have pleased analysts. Citing improved trust in Google's AI activities, a robust cloud business, and efficient cost restructuring measures, JPMorgan set Alphabet's price objective at $212. Likewise, Citigroup maintained its "buy" rating and $212 price target while highlighting fast expansion motivated by strong demand for Alphabet's Gemini big language model.
