IOWA CITY - Lockheed Martin (NYSE:LMT) Skunk Works® (NYSE: LMT) has partnered with the University of Iowa's Operator Performance Laboratory (OPL) to demonstrate the application of artificial intelligence (AI) in air-to-air intercept exercises. The collaboration recently culminated in successful live test flights, marking a pivotal advancement for the Skunk Works' Tactical AI team.
During the tests, AI was used to pilot a full-scale L-29 Delfin jet owned by OPL, executing maneuvers based on heading, speed, and altitude commands. The AI agent conducted simulated combat against virtual adversaries, engaging in eight different test scenarios per flight. These scenarios ranged from standard confrontations to complex missile support and defeat exercises.
Dr. Tom "Mach" Schnell, OPL professor at Iowa Technology Institute, expressed enthusiasm about the technology's performance, noting that the AI's flight interface integration surpassed simulation results. Matthew "Gabe" Beard, Lockheed Martin Skunk Works autonomy/AI and machine learning engineering manager, emphasized the importance of live flight tests in advancing AI and autonomy expertise.
The recent flights are part of a larger effort to develop and test AI-driven autonomy for air-to-air missions. Lockheed Martin plans to conduct additional flight tests throughout the year, increasing complexity by introducing more aircraft into various combat scenarios.
Lockheed Martin focuses on providing AI and machine learning solutions that enhance human capabilities by analyzing vast amounts of data for actionable intelligence and strategic advantages. The company adheres to the U.S. Department of Defense's guidelines for the ethical and safe use of autonomous systems, ensuring that humans retain ultimate decision-making authority in its AI systems.
This development is based on a press release statement and further information can be found at Lockheed Martin's official website.
InvestingPro Insights
Lockheed Martin's (NYSE: LMT) recent collaboration with the University of Iowa's Operator Performance Laboratory underscores the company's commitment to integrating advanced technology into its operations. Key financial metrics from InvestingPro provide a snapshot of the company's current market position that may be of interest to investors following these technological advancements.
InvestingPro Data shows Lockheed Martin with a market capitalization of $112.5 billion, reflecting its significant presence in the aerospace and defense industry. The company's P/E ratio stands at 17.08, which adjusts to 16.24 when considering the last twelve months as of Q1 2024, indicating a valuation that is potentially attractive relative to near-term earnings growth. Moreover, the firm's dividend yield is at 2.69%, with a recent 5.0% growth in dividends, showcasing its commitment to returning value to shareholders.
One of the InvestingPro Tips highlights that Lockheed Martin has raised its dividend for 21 consecutive years, demonstrating a strong and consistent return to investors. Additionally, the company is recognized as a prominent player in the Aerospace & Defense industry, which aligns with its ongoing efforts to develop AI-driven autonomy for air-to-air missions.
For investors seeking deeper insights, there are additional InvestingPro Tips available, including analysis on the company’s share buyback strategy and its performance relative to industry benchmarks. For instance, Lockheed Martin's management has been aggressively buying back shares, which could be a signal of confidence in the company's future prospects.
Investors can access these insights and more by visiting InvestingPro and using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With a total of 13 InvestingPro Tips listed for Lockheed Martin, informed decision-making is just a step away for those looking to invest in a leading name in aerospace and defense.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.