Google Cloud, Shopify, and Cognizant Collaborate to Offer New Enterprise Retail Solution
Google Cloud, Shopify, and Cognizant have joined forces to offer a new solution for enterprise retailers, combining the strengths of Shopify’s commerce platform, Google Cloud’s cloud infrastructure, and Cognizant’s retail industry expertise. The collaboration aims to help retailers modernize and leverage technologies like generative AI to meet evolving consumer expectations. This partnership underscores the increasing significance of technological innovation in the retail sector.
Cognizant forecasts full-year revenue below expectations
Cognizant Technology Solutions Corporation forecasts full-year revenue below expectations, reflecting a persistent weakness in demand for IT services. The company’s shares dropped 4% during extended trading, as businesses reduce technology and outsourcing expenses amidst sticky inflation and higher interest rates. Peer companies Tata Consultancy Services and Infosys also reported slow profit growth and missed targets, indicating a slowdown in the IT services sector. Cognizant anticipates revenue of $19 billion to $19.8 billion in 2024, falling short of analysts’ expectations, reflecting ongoing challenges in the IT services sector.