LINCOLNSHIRE, Ill. - Zebra Technologies Corporation (NASDAQ: ZBRA), a digital solution provider, has announced a collaboration with Google (NASDAQ:GOOGL) Cloud, Android, and Qualcomm (NASDAQ:QCOM) Technologies, Inc., aiming to enhance customer experiences and employee productivity through generative AI. This partnership is set to be showcased at the upcoming Google Cloud Next event in Las Vegas.
The initiative is designed to alleviate the cognitive burden on frontline workers, enabling them to make better decisions in real time and speeding up their training process. By using AI-powered handheld devices, employees can access a wealth of information and perform tasks more efficiently.
Generative AI technology will allow workers to interact with a chat interface to obtain answers to operational questions, thereby streamlining customer service and improving job satisfaction. A European supermarket chain has already piloted this technology, integrating their standard operating procedures into Zebra's mobile computers, resulting in time savings and enhanced customer interactions.
Zebra's devices, built on Android and powered by Qualcomm Technologies' processors, are expected to bring these advancements to various sectors, including retail, healthcare, and transportation. The collaboration leverages Google's AI models and offers deployment options ranging from on-device to cloud and hybrid solutions.
Tom Bianculli, Chief Technology Officer at Zebra Technologies, emphasized the shift in focus from how generative AI works to its practical applications in the workplace. Art Miller, Vice President of Business Development at Qualcomm Technologies, Inc., and Rouzbeh Aminpour, Global Retail Solution Engineering Manager at Google Cloud, both expressed enthusiasm for the potential of these AI capabilities to transform how organizations operate.
The details of how enterprises can reimagine document processing with generative AI will be further discussed by Bianculli and other industry leaders during a session at the Google Cloud Next event on April 11.
This news is based on a press release statement from Zebra Technologies Corporation.
InvestingPro Insights
Zebra Technologies Corporation (NASDAQ: ZBRA) has been making headlines with its innovative collaboration with Google Cloud, bringing the power of generative AI to frontline workers. As the company continues to push the boundaries of digital solutions, it's worth noting its financial and market performance, which can be just as revealing as its technological advancements.
InvestingPro data indicates a robust market capitalization of $15.05 billion, reflecting investor confidence in Zebra's market position and growth potential. However, the company is trading at a high earnings multiple, with a P/E ratio of 50.81, showing a premium valuation compared to the industry average. The adjusted P/E ratio for the last twelve months as of Q4 2023 stands at 38.83, which, despite being high, may be justified by the company's innovative strides and future profitability as suggested by analysts.
InvestingPro Tips reveal that Zebra's stock price movements have been quite volatile, which could be of interest to investors looking for dynamic trading opportunities. Additionally, the company has shown a strong return over the last three months, with a 15.73% price total return, and an even more impressive 26.76% over the last six months, highlighting its recent positive momentum in the market.
For investors seeking more in-depth analysis, there are additional InvestingPro Tips available; for instance, Zebra has been profitable over the last twelve months and analysts predict it will remain profitable this year. To explore these further, consider visiting InvestingPro for comprehensive insights and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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