AI Ramps Up Digital TransformationCompanies frequently seek innovative techniques to harness the capabilities of data. Smart operational systems, enabled through AI, are becoming an integral part of IT solutions as they increase levels of efficiency by speeding up decision making.An increasing base of non-IT groups, like application developers and DevOps, are inclining toward Artificial Intelligence in IT operations (AIOps) technologies to surface insights across a multitude of datasets.According to market guide by Gartner, by 2023 nearly 40% of DevOps teams will utilize AI for augmenting IT operations capabilities.Along with Broadcom, some of the key players in the AIOps platform are International Business Machines Corporation IBM, Moogsoft Inc, HCL Technologies Limited, Splunk Inc, CA Technologies and VMware Inc.Alongside Automation.ai, Broadcom has also added new AIOps capabilities such as an SRE DevOps dashboard, ML-driven recommendation engine, new user journey analysis and enhanced Kubernetes monitoring and Prometheus integration. These new intelligent and auto-remediation capabilities are targeted to reduce errors and enhance user experience.To conclude, Broadcom’s well-chalked efforts to expand its product portfolio is expected to strengthen presence across high-growth markets like IoT, AI, Automotive, Smart Home and Enterprise. This bodes well for the company.Zacks Rank & Stocks to ConsiderCurrently, Broadcom carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the broader technology sector are, Synopsys SNPS and Keysight Technologies KEYS, each flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Long-term earnings growth rate for Synopsys and Keysight is currently pegged at 12.8% and 9.1%, respectively.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report International Business Machines Corporation (IBM) : Free Stock Analysis Report Synopsys, Inc. (SNPS) : Free Stock Analysis Report Broadcom Inc. (AVGO) : Free Stock Analysis Report Keysight Technologies Inc. (KEYS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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