What happened
Shares of C3.AI (IA 21.78%) surged Tuesday morning after the AI-based software company announced the launch of its new C3 Generative AI product suite, which includes C3 Generative AI for Enterprise Search.
As of 12:17 p.m. ET, the stock was up 26% on the news.
So what
Generative AI describes a form of artificial intelligence that can be used to create content such as code, text or images, such as OpenAI’s ChatGPT and DALL-E.
C3.AI describes its Generative AI for Enterprise Search as “a transformative user experience using a natural language interface to quickly locate, retrieve and present all relevant data across the entire corpus of information systems in the business”.
In other words, it will allow employees to quickly and easily locate files, documents and other data with a simple chat-based request. C3.AI said its new product suite incorporates the latest features from companies like OpenAI and Google, as well as academia.
“C3 Generative AI fundamentally changes the human-computer interaction model of enterprise application software,” said CEO Thomas Siebel. “Combining the full potential of natural language, pre-trained generative transformers, enterprise AI, and predictive analytics will change everything in enterprise computing.”
Now what
C3.AI primarily works with enterprise-level clients, such as major oil and gas companies, and government organizations such as the US Department of Defense, which have massive amounts of data and information to which they must access. A former Defense Department official called the new technology a “game changer”.
Investors are clearly excited about the next wave of AI products following the introduction of ChatGPT, as BuzzFeed stock more than doubled after announcing it would use ChatGPT to generate content on its site last week.
The implication for C3.AI could be significant as generative AI could be useful in a wide range of applications. The new product suite is slated for general release in March, and investors should expect to hear more when it launches.
C3.AI took a dive last year, so if this new sequel is a real game-changer, AI stock could have plenty of room to rebound and rise.