Rackspace Technology RXT Stock Up On AI, Google Cloud Partnership

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RXT stock ripped 38% higher on June 30, 2023, after the company announced a generative AI partnership with Google.

finviz dynamic chart for  rxt

Rackspace Technology Partners with Google Cloud to offer Cutting-edge Generative AI

Google Cloud and Rackspace Technology made an important announcement about their partnership’s expansion on June 29, 2023. The Foundry for Generative AI by Rackspace (FAIR) for Google Cloud is committed to quickening the adoption of generative AI solutions in businesses across all sectors.

“This partnership is a force multiplier to accelerate the pragmatic and secure use-case-based adoption of generative AI in businesses across all industries,” said Srini Koushik, Rackspace CTO and global lead for FAIR. “With FAIR, Rackspace and Google Cloud are building on our shared values of putting the customer first, commitment to sustainability and technology innovation to align our offerings, multicloud capabilities, and highly skilled cloud workforce with Google Cloud’s industry-leading AI capabilities to help our customers harness the true power of generative AI in a secure, responsible and human-friendly manner.”

“Generative AI has the potential to improve how businesses fundamentally operate in every industry,” said Jim Anderson, Vice President NA Partners Ecosystem & Channels at Google Cloud. “Rackspace’s launch of FAIR for Google Cloud will provide businesses with the expertise needed to deploy new AI capabilities safely, responsibly, and quickly.”

FAIR for Google Cloud is a ground-breaking global practice devoted to advancing business transformation, enhancing customer experience, boosting service quality, and accelerating value creation using Google Cloud. In addition to working on several first-of-a-kind implementations for our customers around the world, FAIR has identified over 100 use cases spanning several industries.

Rackspace, a long-time user of Google Cloud, implemented Rackspace Intelligent Co-pilot for the Enterprise (Rackspace ICE) using FAIR. The AI Duet Rackspace ICE increases the efficiency and productivity of go-to-market teams. It uses AI to identify warm leads, automate repetitive tasks, surface pertinent data and content, and provide contextualized real-time analytics for highly personalized customer interactions.

RITA (Rackspace’s Intelligent Technology Assistant) is being developed by Rackspace using FAIR as well. RITA is an interactive chatbot that responds to text IT service requests, improves self-service capabilities for questions, requests new hardware or software, resets forgotten passwords, and responds to inquiries about IT and security policies. Additionally, the answer establishes a connection between the answer and the specific areas of the source documents that need to be resolved. “When we deploy RITA, we expect an 80% decrease in tickets, making Rackers more productive while allowing us to deploy talent to other areas of IT,” said Scott Sanders, CIO for Rackspace Technology. “What’s even better is that with Google’s latest innovations, we can inject language translation and easily introduce other interaction modalities into our solutions.”

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