PTC Inc. PTC has partnered with Microsoft MSFT and Volkswagen Group VWAGY will create Codebeamer Copilot, a generative artificial intelligence (AI)-based tool designed to support software development in physical products, such as vehicles, by streamlining product requirements management, testing, validation and publication processes.
PTC is expected to launch Codebeamer Copilot (beta) to select customers in early 2025.
PTC’s Codebeamer is a reliable platform for managing the complexities of software development in physical products. In 2023, VWAGY adopted Codebeamer to streamline software development across its vehicle brands and projects, with a focus on improving productivity and quality. PTC and VWAGY have partnered with MSFT to expand Codebeamer’s potential by seamlessly integrating generative AI with Microsoft Azure AI capabilities, aiming to drive innovation with transformative results.
PTC highlighted the importance of generative AI in helping customers solve complex problems and enabling the company to effectively invest in emerging markets, such as the efficient development of software-defined vehicles. The collaboration combines the real-world expertise of a leading manufacturer and cutting-edge AI technology from Microsoft to drive technological advancement.
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PTC, based in Boston, Massachusetts, is a software provider offering a range of cutting-edge digital technologies that are collectively revolutionizing the engineering, production and maintenance of tangible goods. It offers a comprehensive range of software solutions including computer-aided design (CAD) and product lifecycle management (PLM).
PTC continues to pursue strategic collaborations with technology giants to keep pace with evolving market demands, thereby driving innovation, efficiency and competitiveness across all sectors. In September 2024, the company signed a strategic collaboration agreement with Amazon Web Services to develop its Onshape solution. This partnership focuses on enhancing Onshape functionality, increasing customer adoption, and advancing AI efforts, all to help designers and engineers develop high-performance products. high quality faster and more efficiently.
PTC continues to gain momentum in its PLM and CAD solutions in a challenging business environment. In the most recently reported quarter, revenue jumped 15% year over year to $627 million. Steady growth in recurring revenue and perpetual licenses has driven revenue expansion. The company also shared its strategy to adjust its go-to-market approach, with the aim of improving customer service and expanding its market presence.