Nvidia, ServiceNow’s AI partner for optimizing IT help desks, and other enterprise tasks

nvidia (NVDA) and service now NOW on Wednesday announced a partnership to develop enterprise-grade capabilities in generative artificial intelligence to vastly improve business processes. The news could be a catalyst for NVDA stock and NOW stock.


Using software, services and computers from Nvidia, ServiceNow develops custom big data-trained language models specifically for its ServiceNow platform. AI applications will then provide shortcuts to workers, starting with IT help desks.

For example, generative AI can automatically summarize user problems in a service ticket. Today this process takes about seven to eight minutes to do manually. This will free up time for service desk agents to deal with more complex issues or to assist other users.

Ultimately, AI learning will be fed into help desk self-service functions.

ServiceNow announced the partnership with Nvidia at the Knowledge Conference 2023 in Las Vegas.

NVDA stock is increasing

In today’s stock market, NVDA stock rose 3.3% to 301.78 while NOW stock rose 5.3% to 492.92. ServiceNow also announced share buybacks of up to $1.5 billion.

In addition to summarizing service tickets, Nvidia AI technology will automate other workflows for ServiceNow’s IT helpdesk. This includes automatic ticket routing, automatic ticket resolution, incident severity prediction, root cause analysis, and similar incident detection.

Through its partnership with Nvidia, ServiceNow intends to develop new uses for generative AI across the enterprise, including IT departments, customer service teams, employees, and developers. It also hopes to boost workflow automation and quickly increase productivity.

Use of company proprietary information for artificial intelligence

“IT is the nervous system of every modern enterprise in every industry,” Nvidia CEO Jensen Huang said in a press release. “Our collaboration to build hyper-specialized generative AI for enterprises will enhance the capacity and productivity of IT professionals around the world using the ServiceNow platform.”

The generative AI from the ServiceNow platform will be based on company-specific information. By contrast, generative AI programs such as OpenAI’s ChatGPT are trained on publicly available information.

News of the ServiceNow partnership is the latest in a steady stream of announcements about Nvidia’s AI that have boosted NVDA stock.

NVDA stock has doubled this year

Year-to-date on Wednesday’s close, NVDA stock is up 106.5%. Meanwhile, NOW stock is up 27%. For comparison, the S&P 500 is up 8.3% so far in 2023.

Investor enthusiasm about artificial intelligence has been fueled by a host of tech stocks. they include Adobe (ADBE), AMD (AMD), a Google parent the alphabet (GOOGL) f Microsoft (MSFT).

Generative AI was a big focus at the ServiceNow Knowledge Conference. The enterprise software company also announced AI advancements in finance and supply chain workflows.

Nvidia, ServiceNow on IBD inventory lists

ServiceNow and Nvidia are exploring a number of generative AI use cases to simplify and improve productivity across the enterprise. This includes developing intelligent virtual assistants and agents to quickly help resolve a wide range of user questions and support requests through purpose-built chatbots that use large language models and focus on specific IT tasks.

“As adoption of generative AI continues to accelerate, organizations are turning to trusted vendors with secure, battle-tested AI capabilities to boost productivity, gain competitive advantage, and maintain data and intellectual property (IP) security,” Desai said in a written statement. “Together, Nvidia and ServiceNow will help drive new levels of automation to drive productivity and increase business impact.”

Nvidia and ServiceNow are both on IBD’s list of technology leaders. In addition, NVDA stock is on the IBD leaderboard and NOW stock is on the IBD Big Cap 20 stock list.

Follow Patrick Seitz on Twitter at @tweet For more stories on consumer technologies, software and semiconductor stocks.

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