Cisco Unveils First Jointly Developed AI Agent From Mistral AI Partnership - What's On The Cards? - Cisco Systems (NASDAQ:CSCO)

Shares of digital technology major Cisco Systems Inc. CSCO are trading higher on Monday.

The company has introduced an AI solution in collaboration with Mistral AI, signaling a major advancement in its Customer Experience (CX) initiatives.

The AI Renewals Agent, the initial product in a series of AI tools co-developed by Cisco and Mistral, simplifies the renewal proposal process by processing data from more than 50 sources.

“The AI Renewals Agent is an important milestone and the first of many innovative solutions that we’re going to build together. The impact on our teams is also significant as we continue to look at opportunities to simplify and reduce friction in their jobs,” said Liz Centoni, Executive Vice President and Chief Customer Experience Officer, Cisco.

It delivers tailored recommendations, sentiment analysis, and automates tasks, enhancing customer interaction and satisfaction.

The tool targets a 20% reduction in time spent creating proposals. Significantly, the AI Renewals Agent runs on-premises, ensuring data security, privacy, and compliance while optimizing costs and performance.

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Arthur Mensch, CEO, Mistral AI, stated, “It demonstrates how GenAI can enhance access to rich and complex information sources, deliver critical value to Cisco’s customers and ecosystem, and save considerable time for all stakeholders involved.”

In January, Cisco unveiled Cisco AI Defense, a solution aimed at facilitating and safeguarding AI transformation for businesses.

Founded in April 2023 by former engineers from Google DeepMind and Meta, Mistral also has investment from Microsoft. In 2024, Mistral raised $645 million in funding, reaching a valuation of $6 billion.

Price Action: CSCO shares are trading higher by 0.83% at $62.79 at the last check Monday.

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