World News – CA – BlackBerry stocks rise the most on automatic collaboration with Amazon

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Platform designed to help automakers and suppliers standardize vehicle data and accelerate the provision of new revenue-generating functions and services

BlackBerry Ltd. . After the cell phone company signed a multi-year contract with Amazon Web Services to develop and market its « Intelligent Vehicle Data Platform » called IVY, the increase rose the most.

IVY is a cloud-connected software platform that automakers can use to read vehicle sensor data and “extract actionable insights from that data both locally in the vehicle and in the cloud” to improve the performance of cloud-connected vehicles, a joint statement.

The shares rose on Tuesday in the course of the day by up to 58 percent. BlackBerry trading volume was more than 21 times the daily average.

Canadian technology specialist BlackBerry and e-commerce titan Amazon have developed a cloud-based software platform that automakers and suppliers can use to standardize vehicle data and accelerate the provision of new revenue-generating functions and services, the companies announced on Tuesday.

BlackBerry and Amazon Web Services (AWS) announced that the new intelligent vehicle data platform will reduce the time it takes to build, deploy, and monetize in-vehicle applications and connected services for multiple makes and models, making it easier for automakers to work with a wider pool of developers to accelerate the development of apps and services.

Car manufacturers have been reluctant to pass on much of the data generated by their vehicles to external technology providers.

IVY is designed to complement and simultaneously operate new digital vehicle architectures developed by Volkswagen, General Motors and others.

According to John Wall, head of BlackBerry Technology Solutions, the platform is based on BlackBerry’s QNX, a vehicle operating system in 175 million vehicles worldwide.

« The biggest challenge for most automakers to get applications in the vehicle or monetize their data is that there is no standardized way to access the data, » Wall told Reuters.

One goal of BlackBerry and AWS is to establish IVY as the standard platform in the auto industry, as Apple and Google have done with cell phones through their iOS and Android platforms.

Without this standardization, according to Wall, automakers would “not be able to build an ecosystem” or use the broader community of app developers.

IVY is expected to be installed in the first production vehicles in model year 2023, said AWS manager Sarah Cooper.

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BlackBerry Limited, Amazon. com, cloud computing, stock

World News – CA – BlackBerry stocks rise the most in automatic collaboration with Amazon

Ref: https://financialpost.com

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