C3 AI, Inc. shares are trading higher on Wednesday.

The company disclosed a strategic alliance with McKinsey & Company at Davos to accelerate Enterprise AI transformations.

The partnership combines McKinsey’s AI expertise through QuantumBlack with C3 AI’s advanced Enterprise AI software to drive operational improvements and offer new growth opportunities for clients across industries.

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The partnersip is expected to deliver turnkey solutions to boost energy production and safety, optimize manufacturing efficiency and supply chains, and enhance fraud detection and risk management in financial services.

Thomas M. Siebel, Chairman and CEO, C3 AI, said, “In close collaboration with McKinsey & Company and its AI arm, QuantumBlack, and C3 AI, customers up are assured of success in their Enterprise AI deployments.”

Bob Sternfels, McKinsey & Company Managing Partner, said, “This alliance ensures our clients are not just participants, but leaders in that future. Together with C3 AI, we’re enabling companies to reimagine their operations, unlock new value, and outpace the competition.”

Last month, C3 AI declared expanded joint initiatives with RTX Corporation’s Collins Aerospace to develop and deliver AI solutions in the defense and intelligence space.

Price Action: AI shares are up 5.26% at $34.54 at the last check Wednesday.

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