8 AI News Updates Investors Should Not Miss

3. ServiceNow, Inc. (NYSE:NOW)

Number of Hedge Fund Holders: 78

ServiceNow, Inc. (NYSE:NOW) is a software application company that offers end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, and development tools. As a leading provider of AI platforms for business transformation, the company launched the new Government Transformation Suite on February 12th. The AI-powered suite is designed to increase visibility and accelerate return on investments while also accelerating efficiencies in federal agencies.

It is intended to optimize software investments, help federal agencies manage assets, save time, and change the experience of government employees. About $125 billion is spent annually on IT by the US government, much of which cannot be audited or measured against real usage or mission requirements. With its single architecture and single data model, the AI-first ServiceNow Platform serves as a unifier on top of obsolete tech stacks and legacy systems to activate workflows across departments and simplify complexity. Fueled by millions of automation, knowledge bases, and tools, and with access to trillions of workflow executions, ServiceNow, Inc. (NYSE:NOW) has expanded its capabilities to boost productivity and reduce costs.

Steve Walters, senior vice president, public sector, ServiceNow, stated, “The federal government is focused on improving programs and policies through transparency, efficiency, and accountability is a critical imperative. The new ServiceNow Government Transformation Suite helps agencies work smarter and drive efficiency at speed to move beyond incremental improvements to exponential gains. The goal of Government Transformation Suite is to help agency leaders demonstrate ROI on their technology investments, while also navigating modernization and efficiency priorities by adding intelligence, speed, and staying mission ready.”