MicroStrategy this week unveiled a new customizable AI bot called Auto that allows business users to interact with MicroStrategy’s data analytics offerings through natural language. But investors in the Virginia-listed software company might be more interested in its recent investments in Bitcoin.
The new Auto software is based on the MicroStrategy AI product suite unveiled last year and uses generative AI technology to reduce the technical skills required by users to consume data using MicroStrategy data analytics offerings, the company claims.
Instead of working with a “complex dashboard,” Auto allows users to simply ask a question using everyday language, “making it easier to integrate business intelligence into business decision-making,” MicroStrategy says.
For example, a sales representative can use Auto to get data on customer production volume or product failure rates without having to open a dashboard, the company says. It also benefits data creators, or more technically savvy people who are typically called upon to create reports and dashboards in BI tools, because Auto makes BI users more empowered, MicroStrategy says.
Auto builds on MicroStrategy AI, which integrates generative AI software into the MicroStrategy suite. Launched in October, the new suite includes four components, including: Auto Answers, a natural language interface for analysis; Auto Dashboard, which uses GenAI to accelerate dashboard creation; Auto SQL, which translates natural language into SQL queries; and Auto Expert, an AI chatbot.
Nena Pidskalny, MicroStrategy customer and director of supply chain strategy and planning for Canadian cooperative Federated Co-operatives Limited, says Auto will help the cooperative by providing better self-service access to BI .
“We believe that using MicroStrategy AI will provide enormous value by providing a variety of users with deeper insights that previously required more clicks and more granularity to understand,” Pidskalny said in a press release. “It’s a powerful tool for user self-service. »
Auto can be integrated with third-party applications or deployed as a standalone application in MicroStrategy ONE, the company’s comprehensive suite, which includes tools for analyzing data, cataloging data, creating reports and dashboards, create predictive models and distribute data, BI, and AI products.
Automotive reinforces MicroStrategy’s AI story, says Saurabh Abhyankar, the company’s chief product officer.
“Our modern cloud architecture, proven semantic graph, and robust APIs have given us the agility to lead the market with a solution that combines the latest generative AI with reliable BI,” Abhyankar said in a press release. “And now, with Auto added to MicroStrategy AI, we enable customers to build and deploy custom AI bots in minutes.
But this is just the beginning, Abhyankar said. “We have dozens of new features in the works for MicroStrategy AI that will help every organization capitalize on our vision of intelligence everywhere,” he continued.
While MicroStrategy’s roughly 7,000 customers hope Auto will help them use GenAI, investors in the company, which has reported revenue of about $500 million in each of the past years, may be more appreciative another decision from Tysons Corner. , the Virginia company made: investments in cryptocurrency.
In 2023, MicroStrategy purchased 56,650 Bitcoins at an average price of $33,580, or approximately $1.9 billion, the company said in its February 6 quarterly earnings report. The company financed the acquisition through a combination of stock sales and debt issuance, according to MicroStrategy, which calls itself “the world’s leading Bitcoin development company.”
Thanks to the rapid increase in the price of Bitcoin, MicroStrategy’s investment stood at $8.1 billion as of February 5, making it the largest Bitcoin holding company in the world, according to the company.
Investors in the stock, which trades on NASDAQ under the symbol “MSTR,” have responded by driving its share price from around $500 on Feb. 5 to more than $1,900 today, an increase by 280%.
MSTR still has a way to go before surpassing its all-time high of $3,130, set on March 10, 2000, at the height of the dotcom bubble.
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