L3Harris Selected for Key Department of Defense Artificial Intelligence Program

Rhea-AI Summary

L3Harris Technologies has been awarded a five-year contract by the U.S. Department of Defense (DOD) for artificial intelligence services. This contract, part of the Joint Artificial Intelligence Center (JAIC) initiative, focuses on enhancing data readiness for AI development. It aims to streamline data sharing, discovery, and governance across DOD teams, facilitating faster AI solutions. With over $17 billion in annual revenue, L3Harris supports critical defense services and previously assisted in AI development for intelligence gathering.

Positive

• Awarded a five-year contract with the DOD to enhance AI capabilities.
• Expands previous collaboration with JAIC, reinforcing L3Harris' position in the defense sector.
• Facilitates efficient data management and analysis for improved intelligence gathering.

Negative

• None.

Highlights:

• Prepares data for artificial intelligence (AI) applications
• Eases sharing, discovering and governing of data across Department of Defense (DOD) teams
• Rapidly fields AI solutions by enabling access to tools, metrics and synthetic data

MELBOURNE, Fla.--(BUSINESS WIRE)-- L3Harris Technologies (NYSE:LHX) has been selected by the U.S. Department of Defense to deliver artificial intelligence services to improve intelligence gathering and collaboration across the defense and intelligence communities.

The Joint Artificial Intelligence Center (JAIC) Data Readiness for AI Development contract is a five-year blanket purchase agreement that allows the DOD to more effectively use artificial intelligence. Data must undergo a preparation process before artificial intelligence is able to net useful results. The agreement allows DOD to access data management and analytic services that will ease the process.

“Massive volumes of data must be turned into actionable intelligence every day,” said Ed Zoiss, President, Space and Airborne Systems, L3Harris. “We will help to empower DOD users with ‘point and click’ capabilities to generate synthetic data and create custom workflows that can be used with automated updates.”

Earlier this year, L3Harris was selected by the JAIC to provide support for its Test and Evaluation blanket purchase agreement which will develop ethical and responsible artificial intelligence systems across the DOD. In 2020, L3Harris was selected by the DOD to develop artificial intelligence and machine learning systems to help reduce the amount of time it takes to decipher usable intelligence from increasing amounts of data collected from space and airborne assets.

About L3Harris Technologies

L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial technologies across space, air, land, sea and cyber domains. L3Harris has more than $17 billion in annual revenue and 47,000 employees, with customers in more than 100 countries. L3Harris.com.

Forward-Looking Statements

This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about the value or expected value of orders, contracts or programs or about system or technology capabilities are forward-looking and involve risks and uncertainties. L3Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220517005352/en/

Irene Lockwood

Space and Airborne Systems

Irene.Lockwood@L3Harris.com

585-465-3592

Jim Burke

Corporate

Jim.Burke@L3Harris.com

321-727-9131

Source: L3Harris Technologies

FAQ

What is the recent contract awarded to LHX?

L3Harris Technologies was awarded a five-year contract by the U.S. Department of Defense to provide artificial intelligence services.

How does the LHX contract benefit the Department of Defense?

The contract improves data management and analytics, enabling better intelligence gathering and collaboration across DOD teams.

What role does LHX play in artificial intelligence for the military?

L3Harris delivers AI solutions that prepare extensive data for actionable intelligence, streamlining processes for DOD users.

How much revenue does LHX generate annually?

L3Harris Technologies has over $17 billion in annual revenue.