Businesses are often turning to artificial intelligence (AI) these days to improve at least some processes, and VCI Global (NASDAQ:VCIG) proved no different. In fact, VCI Global managed to better than double its share price in Tuesday afternoon’s trading thanks to its own push into AI.
VCI Global is a consulting firm, so some here might wonder what it has to do with AI. It turns out that it’s turning to someone else’s AI, namely Microsoft’s (NASDAQ:MSFT), to help spur its operations. More specifically, VCI Global will turn to Microsoft’s Azure OpenAI tools to help it assemble one of its greatest projects to date: a fully automated sales platform that features AI assistants.
VCI Global had been branching out into AI somewhat even before now. Back in June, VCI Global announced it was buying a 51% stake in Cogia GmbH, an AI developer in Germany that offered its own slate of AI tools. Now, wedding these to Microsoft’s line, VCI Global will be that much closer to its dream sales platform. VCI Global has managed to make many advances in comparatively little time; its stock has only been listed in the U.S. since earlier this year. What’s more, VCI Global using AI to advance its position makes particular sense as its consulting services focus on boardroom strategies, investor relations, stock listings, and more. So, given all the moves we’ve seen in the markets just so far this year, we know there’s likely plenty of potential for VCI Global to get involved and get ahead.
A look at the last five trading days for VCI Global stock shows something just as noteworthy. That surprise gain that better than doubled VCI Global’s share price didn’t happen all at once. It actually happened over two separate bursts in Tuesday’s trading session. Before that, VCI Global shares ran comparatively quietly, moving little more than pennies in either direction. But with today’s explosive growth, it’s seriously moved the needle.
