BigBear.ai and Maqta Technologies look to use advanced AI tools to help governments and private operators boost processing speed, tighten security, and cut operational bottlenecks.
- Together, the partners plan to co-develop next-generation artificial intelligence systems that can automate and enhance core customs tasks.
- These tools could shorten inspection times, improve accuracy in tariff and duty collection, and help detect threats such as narcotics and human trafficking.
- Last week, BigBear.ai said it had bought some technology from CargoSeer.
BigBear.ai (BBAI) announced on Wednesday that it has entered into a partnership with Maqta Technologies, the digital technology division of AD Ports Group, to boost customs operations and streamline border workflows.
Both parties want to use advanced AI tools to help governments and private operators boost processing speed, tighten security, and cut operational bottlenecks.
Why The Partnership Matters
Seaborne trade represents roughly 70% of global commerce by value, moving an estimated $17 trillion of goods annually across ocean routes. This volumes pressure ports and customs officials to process huge quantities of cargo while maintaining security.
Together, the partners plan to co-develop next-generation artificial intelligence systems that can automate and enhance core customs and border management tasks. These tools could shorten inspection times, improve accuracy in tariff and duty collection, and help detect threats such as narcotics, weapons, and human trafficking in real time.
At the time of writing, BigBear stock traded over 1% lower on Wednesday mid-morning.
Deal Momentum
The company has been gaining momentum with a slew of recent acquisitions and partnerships. In late December, the AI solutions provider closed a $250 million cash deal to acquire secure AI platform Ask Sage, boosting its ability to provide AI at scale to defense, intelligence, and other regulated environments.
Last year, the company introduced its biometric identity verification technology at Nashville International Airport (BNA). Through its veriScan platform, BigBear.ai is enabling expedited customs processing for American citizens entering the U.S. via BNA’s International Arrivals Facility.
Last week, BigBear.ai said it had bought some technology from CargoSeer, an AI company that helps customs agencies scan cargo and manage trade risks.
What Are Stocktwits Users Saying
On Stocktwits, retail sentiment around the stock remained in ‘bullish’ territory amid ‘high’ message volume levels.
One Stocktwits user said the company’s revenue growth, along with contracts, could push the stock’s price higher.
BBAI stock has gained over 63% in the last 12 months.
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