AI took the world by storm in 2023, but it's not new to Juniper Networks (JNPR).

At the Barclays Global Technology Conference, Juniper Networks CEO Rami Rahim tells Yahoo Finance's Seana Smith that Juniper has been "investing in this technology for the last five years," and as a result, the company's "AI-driven enterprise business has performed phenomenally well," enabling Juniper to "take share at an unprecedented rate."

Rahim added: "This is proof that AI is not just in its hype cycle. It's proof that AI is actually delivering real results for our end customers."

Watch the video above to learn how these AI developments are shaping Juniper Networks' strategy going forward.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Video Transcript

SEANA SMITH: Juniper networks is ramping up its focus on AI. Now the technology has really become a cornerstone to the company's strategy. They're using it to drive long-term growth and also improve profitability. Here to discuss that and much more, we want to bring in Rami Rahim, he's the CEO of Juniper networks. So Rami it's great to see you. Thanks so much for taking the time.

RAMI RAHIM: Thanks for having me, Seana.

SEANA SMITH: So let's talk about those AI investments because that really has been the hype word, the word that everyone-- the buzz word that people have focused on over the last 12 months. In terms of what it's done for Juniper's business, what are you seeing?

RAMI RAHIM: So AI is definitely not a new thing for Juniper. We've actually been investing in this technology for the last five years. Our AI-driven enterprise business has been performing phenomenally well. In fact, our mystified, what we call our mystified solution, which is driven by AI technology that's essentially enabling us to run networks more efficiently, delight our network operators, delight the end user, has grown over the last two reported quarters, approximately 100% year over year.

This doesn't happen by accident. We're taking share at an unprecedented rate. And this is proof that AI is not just in its hype cycle, it's proof that AI is actually delivering real results for our end customers.

SEANA SMITH: So because of that, you are already seeing a return, you're seeing the impact from AI. Your investments there on your revenue. How is that then shaping your strategy going forward? Those future AI initiatives.

RAMI RAHIM: Yeah it's a great question. So thus far where we have benefited is in what we call AI operations. We have an AI engine that's driving network operations and improving the experience to the end customer and to the network operator. The future I think we continue to do that. We will continue to benefit from the differentiation that we're seeing through AI but we add yet another area of investment that I think can represent a multi-billion dollar opportunity and that's around the AI infrastructure, right.

Anybody that is leveraging AI needs to, essentially, tap into large clusters of GPUs that are connected through networking. Juniper is really good at building high-performance, highly efficient, highly reliable networks. And we're doing that to capture this clustering opportunity for the AI infrastructure in the future. That's a next new big opportunity for our company.