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CHICAGO - Global consulting firm Protiviti announced the opening of its new Protiviti AI Studio in Chicago, aimed at advancing the application of artificial intelligence (AI) in business operations. The studio represents an evolution of the company's AI Center of Excellence and is intended to help organizations navigate the challenges of AI adoption and leverage its potential for positive business outcomes.
The Protiviti AI Studio will provide a space for co-creation and exploration of AI technologies, offering a range of services from ideation workshops to hands-on training. It is staffed by a team of AI strategists, data engineers, and developers, as well as subject matter experts from various domains within the firm.
Christine Livingston, global leader of the AI practice at Protiviti, emphasized the studio's role in accelerating AI innovation by centralizing resources to assist organizations in rapidly deploying AI solutions. The studio will collaborate with leading technology vendors to showcase new AI capabilities and develop functional prototypes.
Protiviti chose Chicago for its central location within the United States and its vibrant tech ecosystem, which is conducive to fostering collaboration and creativity. The city also hosts one of Protiviti's global innovation centers, known as "iNNs."
The establishment of the Protiviti AI Studio underscores the firm's commitment to enabling clients to quickly move from concept to execution in the realm of AI. The studio aims to empower organizations by providing access to top-tier support and innovative, strategic AI-based solutions.
Protiviti, a subsidiary of Robert Half (NYSE: RHI), is a global consulting firm with more than 90 offices in over 25 countries. Robert Half, with a market capitalization of $4.7 billion, has demonstrated strong financial discipline, maintaining a dividend payment streak for 22 consecutive years and currently offering a notable 4.9% dividend yield. According to InvestingPro analysis, the company holds more cash than debt on its balance sheet, reflecting solid financial management. It has been recognized as one of Fortune's 100 Best Companies to Work For for 11 consecutive years and has served a significant portion of Fortune 100 and Fortune 500 companies. This news is based on a press release statement. With a healthy current ratio of 1.66 and strong profitability metrics, InvestingPro analysis suggests Robert Half is currently trading below its Fair Value. Investors seeking deeper insights can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers, which provides detailed analysis of RHI along with 1,400+ other top US stocks.
In other recent news, Robert Half International reported its fourth-quarter 2024 earnings, which fell short of Wall Street expectations. The company's earnings per share were $0.53, missing the consensus estimate of $0.55, and its revenue was $1.382 billion, below the expected $1.41 billion. This marked a decline compared to the same period in the previous year, with net income dropping from $87 million to $54 million. Despite these results, Robert Half's global consulting arm, Protiviti, reported year-on-year revenue growth for the second consecutive quarter. JPMorgan analyst Andrew C. Steinerman responded by lowering the price target for Robert Half to $65.00 from $69.00, maintaining a Neutral rating, while Jefferies analyst Stephanie Moore raised the price target to $56.00 from $53.00, keeping an Underperform rating. The company has also been recognized as one of the World's Most Admired Companies by Fortune for the 28th consecutive year. Despite the financial challenges, Robert Half increased its dividend by 10.4%, reflecting confidence in its long-term prospects. The company remains cautiously optimistic about its future, particularly in leveraging U.S. business confidence post-elections.
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