PTC Partners with Microsoft and Volkswagen Group to Develop Codebeamer Generative AI Copilot
Rhea-AI Summary
PTC has announced a strategic partnership with Microsoft and Volkswagen Group to develop Codebeamer Copilot, a generative AI solution for software development in physical products. The AI copilot will be built on PTC's Codebeamer application lifecycle management platform and will utilize Microsoft Azure AI capabilities. The solution aims to enhance software engineers' efficiency in creating, managing, testing, and validating product requirements. Volkswagen Group will implement this technology across its brands and vehicle projects, with the beta version expected to release in early 2025.
Positive
- Strategic partnership with major tech and automotive leaders (Microsoft and Volkswagen)
- Development of new AI-powered product expected to improve efficiency in software development
- Expansion of existing relationship with Volkswagen Group, demonstrating product value
- Integration with Microsoft Azure AI capabilities enhances product offering
Negative
- Product revenue impact won't be realized until at least 2025 with beta release
- Significant development and implementation costs likely required
News Market Reaction – PTC
On the day this news was published, PTC gained 0.41%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
- Collaboration brings together industry leaders to advance generative AI use cases for manufacturing
- Codebeamer Copilot expected to simplify requirements management as part of the product development process
- Codebeamer Copilot beta expected to release in early 2025
The development of Codebeamer Copilot builds on Volkswagen Group's adoption of Codebeamer to support software development across its brands and vehicle projects. PTC and Volkswagen Group partnered with Microsoft to help amplify the value of Codebeamer by embedding generative AI with Microsoft Azure AI capabilities.
"By having Microsoft Azure AI in the Codebeamer software, it can assist us with creating new specifications and test cases," said Robert Kattner, Head of IT Engineering at Volkswagen Group, in a video describing the collaboration. "It can also improve the quality of our requirements by removing duplicates and checking against existing quality standards. And furthermore, it can help our teams to import requirements references from older IT systems. It will drive our productivity gains by reducing the time to import, review, and write requirements. In a nutshell, our engineers will do their work more efficiently."
"We apply generative AI to help customers solve problems and capitalize on market opportunities, like the efficient development of software-defined vehicles," said Kevin Wrenn, Chief Product Officer, PTC. "Our collaboration with Volkswagen Group and Microsoft on Codebeamer Copilot gives us the best of both worlds: an industry-leading manufacturer in Volkswagen Group that demonstrates how these solutions apply in a real-world context, and a partner in Microsoft that is pushing the envelope on generative AI and bringing state-of-the-art technology to the market."
"The manufacturing sector holds tremendous opportunities for generative AI use cases, and we're thrilled to support this collaboration with PTC and Volkswagen Group, both leaders in the industry," said Dayan Rodriguez, corporate vice president, Manufacturing & Mobility, Microsoft. "Codebeamer Copilot is a meaningful example of how generative AI can make a longstanding, complex process like product development simpler and more efficient."
Codebeamer Copilot is expected to release as a beta to select PTC customers in early 2025.
About PTC
PTC (NASDAQ: PTC) is a global software company that enables manufacturers and product companies to digitally transform how they design, manufacture, and service the physical products that the world relies on. Headquartered in
Forward-Looking Statements
This news release contains statements about future events and expectations, including the integration and development of solutions and expectations about the companies' product offerings. These statements are "forward-looking statements" that involve risks and uncertainties that could cause actual results to differ materially from those projected as a result of certain risks and uncertainties, including that we may be unable to integrate the solutions when or as we expect and plans and expectations with respect to the companies' products could change.
Media
Greg Payne
gpayne@ptc.com
Investors
Matt Shimao
mshimao@ptc.com
PTC, Codebeamer, and the PTC logo are trademarks or registered trademarks of PTC Inc. and its subsidiaries in
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SOURCE PTC Inc.
FAQ
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