Rolls-Royce Holdings (LON:RR) has teamed up with Chicago-based artificial intelligence software maker Uptake to spot possible operational issues in its Trent engine fleet ahead of time, Reuters has reported. The move comes amid the FTSE 100 group’s ongoing issues with its Trent 1000 programme.
Rolls-Royce’s share price has slipped marginally lower in London in today’s session, having given up 0.35 percent to 854.00p as of 09:53 GMT. The stock is outperforming the broader London market, with the benchmark FTSE 100 index having given up 1.03 percent to 6,950.48 points so far today. The group’s shares have added about 2.4 percent to their value over the past year, as compared with about a 5.3-percent dip in the Footsie.
Rolls-Royce teams up with Uptake
Reuters reported yesterday that Rolls-Royce had teamed up with Uptake, which provides artificial intelligence software to industrials companies to help them predict the performance of complex machines. The companies explained that the Chicago-based group’s software will empower Rolls-Royce with a number of disparate datasets, providing insights into the engine performance and improving the availability of the engine fleet for airline customers.
“With industrial AI and machine learning techniques, we can increase the uptime of our engines and help customers extend the life and value of their critical assets,” said Tom Palmer, senior vice president of services for Rolls-Royce’s civil aerospace business, as quoted by Reuters.
Analysts on British engine maker
The 16 analysts offering 12-month price targets for Rolls-Royce for the Financial Times have a median target of 977.50p on the shares, with a high estimate of 1,255.00p and a low estimate of 675.00p. As of December 4, the consensus forecast amongst 20 polled investment analysts covering the blue-chip group advises investors to hold their position in the company.