Yahoo Finance TD SYNNEX (SNX), Domino Data Lab Partner to Boost AI Adoption
TD SYNNEX SNX recently revealed that it has partnered with San-Francisco-based Domino Data Lab to aid enterprises in more than 100 countries scale data science fast and easy. Per the agreement, SNX partners and clients will leverage Domino's enterprise MLOps platform and other complementary solutions to provide the required resources.
Domino Lab’s enterprise MLOps platform speeds up development and deployment of data science work, while increasing collaboration and governance, to scale data science into a competitive advantage. It enables thousands of data scientists to develop better medicines, grow more productive crops, adapt risk models to major economic shifts, build better cars, improve customer support or simply recommend the best purchase to make at the right time.
The latest move intends to offer TD SYNNEX partners access to infrastructure and tooling and past research for collaboration, so that they can quickly build, deploy and monitor innovative machine learning models for their businesses. Through this, business owners will be able to use artificial intelligence (AI) stacks like the NVIDIA AI Enterprise software suite, NetApp ONTAP AI to streamline workflows, innovate faster, reuse resources and collaborate in an enhanced manner.
SNX continues to witness strong demand for its technology products and services. A steady IT spending environment, backed by rapid digital transformations, is its upside. During fiscal 2022, the company’s revenues jumped 97.2% year over year to $62.34 billion. This was driven by the inclusion of revenues from 2021’s merger of Tech Data Corporation.
Last week, the company unlocked a Microsoft MSFT Azure integrated fraud defense solution designed for customers from small and medium business (SMB) amid growing cyberthreat vulnerabilities. The newly released fraud defense Click-to-Run solution raises security postures and lowers potential risks in daily cloud operations via phishing prevention, proactive alerts, warning signals and more. It enables a multi-layer defense against unprecedented security risks within cloud environments.
Incorporating Microsoft Azure Active Directory, TD SYNNEX’s SMB solution enables small and medium sized businesses to enforce Conditional Access policies, aiding organizations enhance the way users control access to corporate resources. Microsoft’s Azure Active Directory, part of Microsoft Entra, is an enterprise identity service that provides single sign-on, multifactor authentication and conditional access to guard against 99.9% of cybersecurity attacks. SNX’s pre-configured solution further allows organizations to exploit Azure built-in cost management features.
In December 2022, SNX strengthened its collaboration with Alphabet Inc. GOOGL through the expansion of its cloud solution portfolio with the Alphabet’s Google Cloud offering in nearly 60 nations in Latin American, European and Asian region.
Per the agreement, TD SYNNEX enables enterprise customers from 60 additional global markets, including Brazil, Mexico, Argentina and Uruguay to gain access to its cloud experts and solution portfolio incorporated with Google Cloud’s capabilities in artificial intelligence, machine learning, data analytics, infrastructure, collaboration and many more things. This allows the business partners to generate positive business outcomes in the cloud market.
In October, TD SYNNEX subsidiary, Tech Data, expanded its strategic partnership with the leading endpoint backup, protection and security solutions provider, Cibecs. With this move, SNX intends to distribute Cibecs Endpoint Cloud, which offers best-in-class data protection with intelligent management capabilities, to customers in six markets across the Asia Pacific & Japan region, including Hong Kong, India, Indonesia, Malaysia, Singapore and Vietnam.
Prior to that, in August, TD SYNNEX partnered with the California-based spatial data company, Matterport Inc. MTTR, to help boost its presence in the North American market. A large network of 150,000 resellers of TD SYNNEX provides Matterport’s industry-leading technology to a huge customer base, including new enterprises, small & medium business customers and public agencies.
The abovementioned deal allows MTTR to gain a stronghold in the North American property market of approximately 1 billion spaces, enabling SNX clients to optimize operations through integration with Matterport’s platform.
It currently carries a Zacks Rank #3 (Hold).
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