Cisco Systems, Inc. - CSCO STOCK NEWS

Cisco has unveiled new AI-powered innovations for its Webex Contact Center, including the Webex AI Agent, AI Agent Studio, and Cisco AI Assistant features. The Webex AI Agent serves as a self-service concierge that handles customer inquiries using conversational intelligence to eliminate wait times. The AI Agent Studio allows quick deployment of voice or digital AI agents, while the Cisco AI Assistant provides automated guidance for agents. These solutions will be generally available in Q1 2025, with features including context summaries, suggested responses, and dropped call summaries. According to Cisco's study, these improvements could result in a 39% improvement in customer satisfaction scores.

Cisco's Global AI Partners Study reveals significant revenue shifts towards AI technologies in the coming years. Over 25% of partners anticipate 76-100% of their revenue will stem from AI-related technologies in the next 4-5 years. The study highlights infrastructure (54%), cybersecurity (48%), and customer experience (30%) as the top drivers of AI technology demand.

Partners show confidence in their AI deployment capabilities but recognize challenges like inexperience with new technologies (62%) and lack of knowledge of systems and processes (56%). To address these, nearly 80% are investing in upskilling employees through internal and external training.

The study, surveying over 1,500 IT partners across 29 markets, aligns with Cisco's AI Readiness Index, emphasizing the important role partners play in helping customers achieve AI readiness. It underscores the need for strengthening practical deployment capabilities to leverage the opportunities in the AI era.

During Climate Week NYC 2024, Cisco Systems highlighted its innovation and leadership in addressing climate change. The company's efforts include:

1. Developing energy-efficient networking solutions and circular-designed products

2. Setting 2040 net-zero goals

3. Supporting customers on their sustainability journeys

4. The Cisco Foundation's 10-year $100 million climate commitment

Cisco is focusing on:

• Improving energy efficiency in products like the Silicon One chip
• Incorporating Circular Design Principles into new products and packaging
• Applying AI and IoT to enhance sustainability in smart grids, buildings, and data centers
• Supporting utilities in transitioning to renewable energy sources
• Developing smart building solutions to reduce energy consumption

The company emphasizes collaboration between government, industry, and academia to drive climate action through programs like Country Digital Acceleration and Networking Academy.

Cisco (NASDAQ: CSCO) announced its annual AI Collaboration and Customer Experience event, WebexOne, scheduled for October 21-24, 2024. The event will feature speakers from top global brands, including Trevor Noah, Emmy award-winning comedian, and Fareed Zakaria, host of CNN's Fareed Zakaria GPS. More than 50 Webex customers and partners will discuss how they're partnering with Cisco to revolutionize customer experiences and collaboration with AI.

The event will explore topics such as generative AI, customer experience, and conferencing and office tech. Attendees can participate in 100+ hours of learning from 65 classes and labs, and experience 50+ breakout sessions. Cisco leaders, including Jeetu Patel, EVP and Chief Product Officer, will showcase the latest technology revolutionizing the future of work and customer experience.

Cisco and BT have partnered to upskill Ukrainian refugees in Ireland through the Cisco Networking Academy. This initiative, supported by TU Dublin, offers free online courses in English and Ukrainian on topics like Cybersecurity, Networking, and Programming. Since its launch in October 2023, the Academy has reached over 200 learners, with a focus on helping Ukrainian women secure employment. Shay Walsh, Managing Director of BT Ireland, and Niamh Madigan, Partner Leader at Cisco Ireland, emphasize the program's impact on fostering innovation and inclusivity. The partnership aims to extend the reach of STEM education and digital skills training in underserved communities.

Cisco Systems Inc. has marked three years of progress towards its net zero greenhouse gas (GHG) emissions goal, set to be achieved across its value chain by 2040. The company's strategy, 'The Plan for Possible', focuses on accelerating the transition to clean energy. Key achievements include:

1. Increasing energy efficiency in buildings and transitioning to electric vehicles.
2. Joining the RE100 initiative for 100% renewable electricity sourcing.
3. Setting a goal for 80% of suppliers to have public GHG reduction targets by FY2025, with 92% already compliant as of FY23.

Cisco is exploring future opportunities in AI for sustainability, climate technology investments, and clean energy adoption. The company emphasizes the importance of collective effort from individuals, businesses, and governments in achieving net zero goals.

Eunjung Son, a Cisco partner account manager, shares her inspiring journey with the company and her nonprofit, Gift Factory Project. Son's story begins with her father's terminal cancer diagnosis in 2001, which coincided with her first job at Cisco. Inspired by her father's passing, she founded Gift Factory Project in 2012 to provide memorable experiences for terminal cancer patients and their families.

After rejoining Cisco in 2024, Son organized a virtual world tour using Webex for young adults with muscular dystrophy. The event, supported by Cisco employees across Asia Pacific, allowed participants to explore four countries virtually. This initiative showcased how Cisco's technology connects people and creates positive impact, aligning with the company's core philosophy of people-centered leadership and technological innovation.

Ontario Clean Water Agency (OCWA) has implemented a Cisco industrial IoT solution to modernize its water and wastewater services across 750 client facilities in Ontario, Canada. The solution, built on Cisco industrial routers, addresses three key goals:

1. Standardizing data from various equipment types
2. Eliminating compliance reporting issues due to network disruptions
3. Expanding service portfolio for added customer value

The new system transforms plant data into a standard format, ensures data retention during network outages, and enables new services like energy management and asset performance monitoring. Currently deployed in over 165 facilities, OCWA aims to implement the solution in the majority of its remotely monitored facilities by 2030, with potential future applications including machine learning for predictive maintenance.

Nataliia Nahach, a Ukrainian refugee, shares her transformative journey with Cisco's TOP program. The two-year apprenticeship offers displaced individuals education, industry certification, and tailored training. Despite initial fears about lacking a technical background, Nataliia was selected as one of 10 participants. She highlights Cisco's supportive environment, comprehensive onboarding, and job rotation opportunities. The program helped Nataliia adapt to a new country and secure a permanent position as a High Touch Operations Analyst. Cisco's partnership with Tent, a global coalition supporting refugee employment, further emphasizes their commitment to helping refugees rebuild their lives.