NEW YORK and SANTA CLARA, Calif. - In a move to secure the rapidly growing use of generative AI (GenAI) in businesses, Palo Alto Networks (NASDAQ: NASDAQ:PANW) and Accenture (NYSE: NYSE:ACN) have announced new offerings aimed at enhancing cybersecurity for organizations adopting AI technologies.
These offerings integrate Palo Alto Networks' Precision AI™ technology with Accenture's secure generative AI services.
The collaboration comes in response to the challenges posed by AI-generated cyberattacks and the need for secure transformational technologies. A recent survey by Accenture highlighted that while 97% of organizations see GenAI as having transformative potential, only 31% have made significant investments due to the difficulty in scaling AI securely.
Palo Alto Networks' chairman and CEO, Nikesh Arora, emphasized the importance of using AI responsibly to create business value and improve security outcomes. Karthik Narain, group chief executive – Technology at Accenture, echoed this sentiment, noting the dual nature of GenAI as a tool for reinvention and a new frontier in cybersecurity.
The partnership aims to create a secure AI ecosystem through offerings such as Palo Alto Networks' AI Security Posture Management (AI-SPM) and AI Access Security, which are designed to secure the AI lifecycle from data ingestion to model deployment.
Additionally, the offerings will provide proactive threat detection and prevention against AI-generated attacks, and foster responsible AI adoption with a focus on ethical and secure practices.
Palo Alto Networks and Accenture are also committed to developing AI Runtime Security to protect AI-powered business applications and data in real-time. These efforts underscore the critical role of a strong AI ecosystem in ensuring cybersecurity for customers.
The information in this article is based on a press release.
InvestingPro Insights
As Palo Alto Networks (NASDAQ: PANW) fortifies its presence in the cybersecurity space through strategic partnerships, such as with Accenture, it's important for investors to consider the financial metrics and analyst sentiments that could impact the company's stock performance. Here are some insights based on data from InvestingPro:
InvestingPro Data shows that Palo Alto Networks has a market capitalization of approximately $95.99 billion, reflecting its significant size in the cybersecurity industry. The company's revenue growth over the last twelve months as of Q2 2024 stands at an impressive 22.28%, indicating a strong upward trend in sales. This is further supported by a robust gross profit margin of 74.05%, showcasing the company's ability to maintain profitability despite the costs associated with its operations.
Two notable InvestingPro Tips for Palo Alto Networks include the expectation that net income is expected to grow this year, which could signal a positive outlook for the company's profitability. Additionally, Palo Alto Networks is recognized as a prominent player in the software industry, which may provide a competitive edge as it expands its AI security offerings.
For investors interested in further analysis and insights, there are 15 additional InvestingPro Tips available for Palo Alto Networks at https://www.investing.com/pro/PANW. These tips could provide a deeper understanding of the company's financial health and market position.
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