Nokia Corp (ADR)(NYSE:NOK) has created a customized ‘digital assistant’ that will improve telecom operators’ efficiency by providing engineers faster access to critical information. ‘MIKA’ – powered by the Nokia AVA cognitive services platform and underpinned by Nokia’s services expertise – will provide voice-dictated automated assistance to reduce time spent searching information resources, enabling operators to focus on key business tasks without being distracted by the complexities of multi-technology network environments.
MIKA – or Multi-purpose Intuitive Knowledge Assistant – is the first digital assistant ‘trained’ specifically for the telecom industry, designed to provide automated assistance that saves time and frees highly skilled workers to focus on critical tasks. Nokia analysis of working methods within a Network Operations Center has revealed that application of MIKA could ‘give back’ more than one hour of productive time every day to engineers by providing them with access to information and recommendations through the interactive user interface.
MIKA combines augmented intelligence with automated learning to provide access to an extensive range of tools, documents and data sources. These include the Nokia AVA knowledge library, a repository of best practice gathered from Nokia projects around the world. Using the knowledge library MIKA can provide recommendations based on similar issues seen in other networks. MIKA is available via a web interface and mobile agent so that engineers can tap into its knowledge base, wherever they are.
Igor Leprince, head of Global Services at Nokia, said: “Finding the right information is a daily challenge for telco engineers tasked with boosting network quality. MIKA taps into the power of the Nokia AVA platform to provide quick and accurate answers, avoiding time wasted on fruitless searches. MIKA is customized to support the specific needs of telecoms, and can deliver recommendations based on experience from networks around the world.”
Nokia introduces Predictive Repair
In addition to launching MIKA, Nokia introduces Predictive Repair, a service that will enable operators to reduce costs and improve network quality by moving away from break-fix approaches to hardware maintenance. This care service can predict hardware failures and recommend replacements up to 14 days in advance, with up to 95 percent accuracy. These recommendations will allow operators to improve efficiency by avoiding unnecessary site visits, wasted operations efforts, excessive inventory, and false ‘No Fault Found’ returns.
Nokia Predictive Repair is the first service of its type in the telecommunications industry. It draws on Nokia’s deep hardware services expertise – correlating network, repair center and factory data. By applying Nokia Bell Labs machine learning algorithms to predict failures, the focus is on high-runner modules that generate a significant share of customer repair transactions. The service is available to operators that use Nokia 3G and 4G equipment.
The Nokia MIKA Digital Assistant as a Service is now available for customer trials, and will be demonstrated at the Nokia booth at Mobile World Congress 2017 in Barcelona (Hall 3, Stand 3A10) between February 27 and March 2. Nokia Predictive Repair will be available for customer trials in March 2017.
Shares of Nokia are down nearly 2% to $4.61 in pre-market trading Friday. NOK has a 1-yearr high of $7.22 and a 1-year low of $4.04. The stock’s 50-day moving average is $4.77 and its 200-day moving average is $5.14.
On the ratings front, Nokia has been the subject of a number of recent research reports. In a report issued on January 13, Canaccord analyst Michael Walkley downgraded NOK to Hold, with a price target of $5.00, which implies an upside of 6% from current levels. Separately, on the same day, Natixis’ Stuart Jeffrey upgraded the stock to Buy .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Michael Walkley and Stuart Jeffrey have a yearly average return of 16.0% and 11.8% respectively. Walkley has a success rate of 62% and is ranked #34 out of 4378 analysts, while Jeffrey has a success rate of 71% and is ranked #624.
Overall, one research analyst has rated the stock with a Sell rating, 5 research analysts have assigned a Hold rating and 4 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $4.59 which is -2.8% under where the stock closed yesterday.
Nokia Oyj provides network infrastructure, technology and software services. It operates through the following segments: Mobile Broadband, Global Services, and Nokia Technologies. The Mobile Broadband segment engages in the provision of flexible network solutions for mobile voice and data services through its Radio and Core business lines. The Global Services segment provides mobile operators with services to create and maintain effective networks. The Nokia Technologies segment focuses on advanced technology development and licensing.