For cybersecurity stock BlackBerry (TSE:BB), formerly one of the biggest names in mobile technology, a new move into artificial intelligence (AI) did not do the share price much good. In fact, BB shares were down around 2% in Tuesday trading.
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BlackBerry got together with Avathon, which focuses on AI tools for industrial operations. There appears to be quite a bit of opportunity there, but BlackBerry is putting some of Avathon’s tools to work on augmenting the AtHoc platform. AtHoc does what big data was always meant to do: it gathers information, collects and consolidates it, and allows it to be easily shared across different channels.
This helps break the effects of siloing, a common problem in which information tends to collect in the department in which it was generated. But where Avathon comes in is making it a lot easier to use a business’ existing CCTV camera system to gather information. The Avathon system will allow AtHoc to use cameras and see objects and other things for purposes of data gathering and classification.
Reinforcing Security
That was not all that BlackBerry was up to, though, as it also started working with the Malaysia Cybersecurity Center of Excellence to improve training in cybersecurity operations throughout the area. BlackBerry recently thanked the Government of Canada for its C$3.9 million investment in the center to help drive the training programs.
BlackBerry, working with the Rogers Cybersecure Catalyst at Toronto Metropolitan University, will yield 3,500 newly-trained “cyber-defenders” who can work to combat a rising tide of cyber threats in the region. This also works as a solid jobs program, giving Malaysia a little extra resilience.
Is BlackBerry a Good Stock?
Turning to Wall Street, analysts have a Hold consensus rating on TSE:BB stock based on four Holds assigned in the past three months, as indicated by the graphic below. After a 34.52% loss in its share price over the past year, the average TSE:BB price target of C$4.08 per share implies 23.11% upside potential.
