GENAI SOLUTIONS

IT industry's competitive intensity to be at highest levels in FY25: HCLTech CEO C Vijayakumar

Despite a challenging economic environment, HCLTech has achieved remarkable annual growth and outpaced larger competitors. The third-largest software services firm, with annual revenues of $13.27 billion, reported growth that outpaced Tata Consultancy Services 4.1% and Infosys 1.4%. Smaller players such as Wipro and Tech Mahindra faced significant struggles.

Wipro launches Lab45 AI platform to compete on GenAI solutions

Wipro launched Lab45 AI platform to enhance business functions and industry-specific solutions for customers and employees. The platform has shown productivity gains of up to 30% across industries, according to Subha Tatavarti, Wipro's chief technology officer.

TCS launches GenAI platform WisdomNext

Tata Consultancy Services (TCS) launched the Gen AI platform WisdomNext, aggregating multiple GenAI technologies. The platform helps companies adopt next-gen technology, lower costs, and operate within a regulatory framework.

HCLTech integrates its GenAI platform with Google Gemini

HCL Technologies announced the availability of its GenAI platform, HCLTech AI Force, on Google Cloud's Gemini models, integrating Google's large language model to drive innovation at scale.

IT firms trim bench strength; GCCs focus on compliance

Happy Thursday! The country’s top IT firms have seen a massive drop in their bench strength, i.e. employees not on active projects. Find out why and more in today’s ETtech Morning Dispatch.

HCLTech infuses GenAI into MRO solution to drive enterprises' asset utilisation

HCL Technologies enhances its MRO solution with GenAI capabilities, optimizing asset utilization and streamlining maintenance processes in SAP S/4HANA with a comprehensive natural language inspection and repair findings report.

GoKwik clocks $20 million in FY24 sales, expects to double in current year

Ecommerce enabler GoKwik has over 4,000 ecommerce brands in its network including Lenskart, Neemans, Man Matters, Purplle and Shoppers Stop, across categories of fashion, beauty, health and nutrition.

Over 86% senior execs using AI for driving revenue growth: TCS study

86% of senior business leaders, per TCS study, use AI for revenue growth. 45% expect half their workforce to use Generative AI in 3 years. Harrick Vin notes AI solutions deployment challenges. 57% executives are excited about AI impact. Enterprises are moving towards wide-and-deep AI adoption.

Deeptech startup Myelin Foundry raises $4 million led by Sidbi Venture Capital

Myelin Foundry secured $4 million with participation from existing investors. The funds will fuel platform development, global expansion, and solidify their edge AI leadership.

Adobe Sensei GenAI aims to enable businesses to deliver exceptional CX

LTIMindtree, IBM collaborate to set up GenAI Centre of Excellence for India

LTIMindtree and IBM launch a Generative AI Center of Excellence in India to develop AI solutions, combining data expertise and watsonx technology, to tackle business challenges and drive AI adoption.

With GenAI, database firm MongoDB gets set for big India play

Valued at about $30 billion, MongoDB counts Tata Digital, Tata AIG, Canara HSBC Life Insurance, Zomato, Devnagri, Ambee, Inovaare and Observe.AI among its key clients.

India Inc heavyweights look to AI to drive innovation and efficiency

CEOs, CXOs in India prioritize upskilling in GenAI for business transformation. Insead and upGrad witness surge in professionals seeking AI expertise. Companies like Tata Consumer and Raymond integrate AI for business innovation and customer interactions.

Prompt in progress: GenAI text-to-code tools boost productivity

Gen AI text-to-code tools hold promise of up to a 50% gain in productivity. Top IT firms are also embracing them for efficiency. But as Himanshi Lohchab and Beena Parmar find, the road to large-scale adoption is still dotted with caution.

Abu Dhabi’s 3AI, SML in pact to jointly own Indian genAI platform Hanooman

Abu Dhabi's 3AI Holding partners with Seetha MahalaxmiHealthcare and IIT Bombay to co-own 'Hanooman.' Investment undisclosed. Relocating tech team, shifting base to India. Omega AI model integration. Focus on Indian market, diverse sectors, and enterprise solutions.

HCLTech announces alliance with Google Cloud to scale Gemini to global cos

HCLTech and Google Cloud collaborate to train 25,000 engineers on GenAI using Gemini AI model. The alliance focuses on manufacturing, healthcare, and telecom sectors. CEO confident about GenAI solutions for accelerated software project delivery.

LatentView Analytics to acquire 70% of Decision Point for $39 million

LatentView Analytics provides business transformation consulting and works with companies to develop and implement flexible and agile analytics roadmaps. It said the acquisition of Decision Point will bolster its existing expertise in data engineering, data science, and data visualisation

Accenture, Adobe join forces to develop personalised gen-AI solutions

Accenture said it will integrate Adobe Firefly Custom Models into the marketing services offered by Accenture Song, the company's digital creative services, providing organisations with industry-specific information necessary to train models on their proprietary data and brand guidelines.

GenAI has potential to completely transform India's healthcare system: PwC India

A report by PwC India highlights the potential of Generative Artificial Intelligence (GenAI) to revolutionize India's healthcare system, improving efficiency in patient treatment. GenAI, already adopted in various industries, is expected to drive significant growth in India's healthcare sector, with the number of GenAI startups doubling between 2021 and 2023. By leveraging technologies like natural language processing and predictive analytics, GenAI offers real-time clinical support and personalized patient care. However, the report emphasizes the need for robust governance frameworks to address data privacy and security concerns.

GenAI can be a gamechanger for tax compliance: PwC study

At present, there is usually a time gap between the specific regulatory requirements and readiness of an organisation to be able to correctly furnish large amounts of data at the outset. With GenAI, managing complex tax compliances can become easier, the study noted.

SaaS will turn into software and services in GenAI: Upekkha-WestBridge report

Upekkha-WestBridge predicts an IT services-like offering merged with SaaS.

'AWS working with Indian startups to solve for world'

Cloud major looking to export ‘great ideas’ from here, says Gaurav Arora, director and head of startup business in Asia Pacific and Japan at AWS.

GenAI startup Ema secures $25 million in funding led by Accel, Prosus

Ema was founded in March 2023 by former Google employees Souvik Sen and Surojit Chatterjee and stands for Enterprise Machine Assistant. It allows enterprises to build generative AI personas and applications internally to bring about automation and increase efficiency and productivity.