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MarketScreener Homepage  >  Equities  >  Nyse  >  Raytheon Technologies Corporation    RTX

RAYTHEON TECHNOLOGIES CORPORATION

(RTX)
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Raytheon Technologies : Intelligence & Space and C3.ai Form Alliance to Accelerate Military AI Adoption

11/30/2020 | 09:04am EST

Faster availability of AI will improve military readiness

C3.ai, a leading enterprise AI software provider, and Raytheon Intelligence & Space, a Raytheon Technologies (NYSE: RTX) business, today announced an alliance to develop artificial intelligence solutions for aerospace and defense missions for government customers, including the U.S. Air Force and intelligence community.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201130005187/en/

“Raytheon and C3.ai represent key partners for the U.S. Air Force, and specifically the Rapid Sustainment Office, in realizing the vision of harnessing AI to transform the military into a digital organization,” said Nathan Parker, deputy program executive officer for the Air Force Rapid Sustainment Office. “Fulfilling this vision of broad implementation requires identifying applicable use cases for AI across the Air Force, rapidly piloting solutions, and scaling successes across our enterprise to accelerate the transformation.”

AI is rapidly transforming the nature of warfare, and the military is actively working toward adopting this critical new technology.

“The military and intelligence community have access to more data now than any time in history, but it’s more than they’re able to make quick use of,” said David Appel, vice president of Defense & Civil Solutions at Space & C2 Systems for RI&S. “Artificial intelligence can be used to help them make sense of that data, which will allow them to make smarter decisions faster on the battlefield. And that’s just one of the benefits.”

The alliance pairs Raytheon Intelligence & Space’s expertise in aerospace and defense with C3.ai’s proven AI development abilities and applications to fast-track the delivery of these new tools.

“Raytheon and C3.ai are driven by similar purposes: Anticipating and solving our customers’ most difficult problems,” said Thomas M. Siebel, CEO of C3.ai. “Together, we offer an end-to-end enterprise AI platform and mission-tailored applications that will dramatically reduce cost and risk, accelerate adoption and deployment of AI solutions, and scale the impact of AI across any organization.”

About C3.ai

C3.ai is a leading enterprise AI software provider for accelerating digital transformation. C3.ai delivers the C3 AI® Suite for developing, deploying, and operating large-scale AI, predictive analytics, and IoT applications in addition to an increasingly broad portfolio of turn-key AI applications. The core of the C3.ai offering is a proprietary, model-driven AI architecture that dramatically enhances data science and application development. Learn more at: www.c3.ai

About Raytheon Intelligence & Space

Raytheon Intelligence & Space delivers the disruptive technologies our customers need to succeed in any domain, against any challenge. A developer of advanced sensors, training, and cyber and software solutions, Raytheon Intelligence & Space provides a decisive advantage to civil, military and commercial customers in more than 40 countries around the world. Headquartered in Arlington, Virginia, the business generated $14 billion in pro forma annual revenue in 2019 and has 35,700 employees worldwide. Raytheon Intelligence & Space is one of four businesses that form Raytheon Technologies Corporation.


© Business Wire 2020
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Financials (USD)
Sales 2020 63 892 M - -
Net income 2020 358 M - -
Net Debt 2020 21 869 M - -
P/E ratio 2020 -37,8x
Yield 2020 2,72%
Capitalization 105 B 105 B -
EV / Sales 2020 1,98x
EV / Sales 2021 1,86x
Nbr of Employees 243 200
Free-Float 72,1%
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 81,63 $
Last Close Price 69,36 $
Spread / Highest target 31,2%
Spread / Average Target 17,7%
Spread / Lowest Target 0,92%
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Managers and Directors
NameTitle
Gregory J. Hayes Chief Executive Officer & Director
Thomas A. Kennedy Executive Chairman
Paolo C. Dal Cin Head-Operations & Supply Chain
Anthony F. O'Brien Chief Financial Officer
Mark E. Russell Head-Technology & Global Engineering
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