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ServiceNow (NOW) Expands Portfolio With Washington D.C. Launch
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ServiceNow (NOW - Free Report) has unveiled its highly anticipated Washington, D.C. platform, marking a significant leap forward in enterprise transformation. This groundbreaking release introduces a host of cutting-edge features aimed at streamlining operations, enhancing productivity and advancing the adoption of generative AI (Gen AI) across various sectors.
In the wake of a projected surge in global technology spending, ServiceNow's Washington, D.C. release emerges as a beacon of innovation, offering organizations the tools they need to navigate the evolving digital landscape effectively.
According to Gartner’s latest projections, global spending on technology spending is expected to grow 7% to hit $5 trillion by 2024, providing strong growth opportunities.
Enterprises are actively seeking proven platforms that can drive tangible outcomes and maximize digitalization efforts. ServiceNow’s latest release aligns perfectly with this demand, delivering smarter, faster and simpler experiences to fuel enterprise growth and resilience.
At the heart of the Washington, D.C. release lies ServiceNow’s commitment to simplifying experiences and driving efficiency. With a focus on optimizing crucial interactions, the release introduces Sales and Order Management (SOM), empowering organizations to unify sales and order lifecycles seamlessly.
By leveraging SOM, businesses can enhance revenue streams, facilitate post-sale processes, and orchestrate a more connected sales experience, all within a single, intuitive platform.
Moreover, the Washington, D.C. release introduces Platform Analytics, providing customers with a unified, user-friendly interface for reporting and analytics. With seamless data visualization capabilities and integration with Workflow Studio, Platform Analytics enables faster, smarter decision-making, empowering organizations to translate insights into actionable outcomes swiftly.
The release also marks significant advancements in AI-driven automation through enhancements to the Service Operations Workspace for IT Operations Management (ITOM).
Now Assist for ITOM AIOps leverages gen AI to expedite issue resolution by simplifying complex alerts and providing critical context for operators. By harnessing the power of AI, organizations can accelerate response times, minimize downtime and enhance operational efficiency across the board.
ServiceNow's Washington, D.C. platform release represents a significant milestone in enterprise transformation. By delivering smarter, faster and simpler experiences, alongside groundbreaking advancements in gen AI, ServiceNow is empowering organizations to navigate the complexities of the digital age with confidence and agility.
Expanding Portfolio Aids ServiceNow’s Prospects
ServiceNow has been benefiting from the rising adoption of its workflows by enterprises undergoing digital transformation. It had 1897 total customers with more than $1 million in annual contract value at the end of the fourth quarter of 2023.
ServiceNow's commitment to responsible AI development is underscored by its collaboration with industry partners, including Hugging Face and NVIDIA (NVDA - Free Report) . Through open-source initiatives and the development of purpose-built AI models, NOW is driving innovation while prioritizing transparency, security and ethical AI practices.
It recently announced the release of StarCoder2, a family of open-access large language models for code generation in collaboration with Hugging Face and NVIDIA.
StarCoder2 offers three model sizes: a 3 billion-parameter model trained by ServiceNow, a 7 billion-parameter model trained by Hugging Face and a 15 billion-parameter model built by NVIDIA with NVIDIA NeMo and trained on NVIDIA accelerated infrastructure.
ServiceNow and NVIDIA have also broadened their partnership with the introduction of telco-specific generative AI solutions to elevate service experiences. The first solution, Now Assist for Telecommunications Service Management, is built on the Now Platform and uses NVIDIA AI to help boost agent productivity, speed time to resolution and enhance customer experiences.
Moreover, ServiceNow and NVIDIA plan to build out additional telco-specific GenAI use cases based on the unique needs of customers.
Zacks Rank & Other Stocks to Consider
ServiceNow currently has a Zacks Rank #2 (Buy).
Shares of ServiceNow have gained 8.6% year to date, underperforming the broader Zacks Computer & Technology sector’s return of 10.3%.
Image: Bigstock
ServiceNow (NOW) Expands Portfolio With Washington D.C. Launch
ServiceNow (NOW - Free Report) has unveiled its highly anticipated Washington, D.C. platform, marking a significant leap forward in enterprise transformation. This groundbreaking release introduces a host of cutting-edge features aimed at streamlining operations, enhancing productivity and advancing the adoption of generative AI (Gen AI) across various sectors.
In the wake of a projected surge in global technology spending, ServiceNow's Washington, D.C. release emerges as a beacon of innovation, offering organizations the tools they need to navigate the evolving digital landscape effectively.
According to Gartner’s latest projections, global spending on technology spending is expected to grow 7% to hit $5 trillion by 2024, providing strong growth opportunities.
Enterprises are actively seeking proven platforms that can drive tangible outcomes and maximize digitalization efforts. ServiceNow’s latest release aligns perfectly with this demand, delivering smarter, faster and simpler experiences to fuel enterprise growth and resilience.
At the heart of the Washington, D.C. release lies ServiceNow’s commitment to simplifying experiences and driving efficiency. With a focus on optimizing crucial interactions, the release introduces Sales and Order Management (SOM), empowering organizations to unify sales and order lifecycles seamlessly.
ServiceNow, Inc. Price and Consensus
ServiceNow, Inc. price-consensus-chart | ServiceNow, Inc. Quote
By leveraging SOM, businesses can enhance revenue streams, facilitate post-sale processes, and orchestrate a more connected sales experience, all within a single, intuitive platform.
Moreover, the Washington, D.C. release introduces Platform Analytics, providing customers with a unified, user-friendly interface for reporting and analytics. With seamless data visualization capabilities and integration with Workflow Studio, Platform Analytics enables faster, smarter decision-making, empowering organizations to translate insights into actionable outcomes swiftly.
The release also marks significant advancements in AI-driven automation through enhancements to the Service Operations Workspace for IT Operations Management (ITOM).
Now Assist for ITOM AIOps leverages gen AI to expedite issue resolution by simplifying complex alerts and providing critical context for operators. By harnessing the power of AI, organizations can accelerate response times, minimize downtime and enhance operational efficiency across the board.
ServiceNow's Washington, D.C. platform release represents a significant milestone in enterprise transformation. By delivering smarter, faster and simpler experiences, alongside groundbreaking advancements in gen AI, ServiceNow is empowering organizations to navigate the complexities of the digital age with confidence and agility.
Expanding Portfolio Aids ServiceNow’s Prospects
ServiceNow has been benefiting from the rising adoption of its workflows by enterprises undergoing digital transformation. It had 1897 total customers with more than $1 million in annual contract value at the end of the fourth quarter of 2023.
ServiceNow's commitment to responsible AI development is underscored by its collaboration with industry partners, including Hugging Face and NVIDIA (NVDA - Free Report) . Through open-source initiatives and the development of purpose-built AI models, NOW is driving innovation while prioritizing transparency, security and ethical AI practices.
It recently announced the release of StarCoder2, a family of open-access large language models for code generation in collaboration with Hugging Face and NVIDIA.
StarCoder2 offers three model sizes: a 3 billion-parameter model trained by ServiceNow, a 7 billion-parameter model trained by Hugging Face and a 15 billion-parameter model built by NVIDIA with NVIDIA NeMo and trained on NVIDIA accelerated infrastructure.
ServiceNow and NVIDIA have also broadened their partnership with the introduction of telco-specific generative AI solutions to elevate service experiences. The first solution, Now Assist for Telecommunications Service Management, is built on the Now Platform and uses NVIDIA AI to help boost agent productivity, speed time to resolution and enhance customer experiences.
Moreover, ServiceNow and NVIDIA plan to build out additional telco-specific GenAI use cases based on the unique needs of customers.
Zacks Rank & Other Stocks to Consider
ServiceNow currently has a Zacks Rank #2 (Buy).
Shares of ServiceNow have gained 8.6% year to date, underperforming the broader Zacks Computer & Technology sector’s return of 10.3%.
Meta Platforms (META - Free Report) and Synopsys (SNPS - Free Report) are a couple of other top-ranked stocks in the broader sector that investors can consider, each sporting a Zacks Rank #1 (Strong Buy) at present. You can find the complete list of today’s Zacks #1 Rank stocks here.
The long-term earnings growth rate for Meta Platforms and Synopsys is currently pegged at 19.5% and 17.51%, respectively.
Shares of Meta Platforms and Synopsys have surged 42.8% and 14.5%, respectively, on a year-to-date basis.