 "Cognizant Technology to invest $1 billion in Gen AI over three years")
Cognizant Technology Solutions will invest $1 billion in generative artificial intelligence (GenAI) over three years, covering platform, personnel, partnerships, information technology (IT), and mergers and acquisitions, according to Chief Executive Officer Ravi Kumar S.
“We expect Cognizant to be a principal beneficiary of the GenAI opportunity, with over 100 active AI engagements and hundreds more projects utilising our AI services,” Kumar said in an after-earnings call.
As part of its AI efforts, Cognizant launched its Neuro AI platform in May this year, aimed at helping enterprises adopt GenAI technology and harness its business value.
Currently, Cognizant has about 3,000 GenAI ideas in its pipeline through Cognizant’s BlueBolt, its grassroots innovation movement, Kumar said.
Overall, BlueBolt has generated more than 32,000 ideas since the programme began earlier this year.
Last month, Cognizant renewed and expanded its existing relationship with California-based Gilead Sciences, a leading biopharmaceutical company, with a total expected value of $800 million (approximately Rs 6,560 crore) over the next five years.
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Under the agreement, Cognizant will manage Gilead’s global IT infrastructure, platforms, and applications, while leveraging analytics and AI to accelerate its digital transformation. Cognizant has provided similar services to Gilead for the past three years.
Earlier this year, Cognizant expanded its partnership with Google Cloud to accelerate the adoption of AI by businesses worldwide. This effort is expected to assist clients in creating, migrating, and modernising their AI journeys.
Cognizant’s investments in developing GenAI capabilities include the launch of the Cognizant Google Cloud AI University, a new programme that will train 25,000 Cognizant professionals in Google Cloud AI technologies, which will also be offered to Cognizant clients.
The university will provide a variety of courses, including introductory courses on AI fundamentals, advanced courses on Google Cloud’s solutions, and specific AI use-cases.
Additionally, Cognizant will open new Google Cloud AI innovation centres in Bengaluru, London, and San Francisco to scale their industry-leading AI wherewithal.
Many IT services companies have been investing in AI lately.
Bengaluru-based IT major Wipro recently committed to investing $1 billion in AI, along with the launch of Wipro ai360, an AI-first innovation ecosystem, aimed at integrating AI into every platform, tool, and solution used internally and offered to clients.
Earlier this year, Infosys launched Topaz, an AI-first set of services, solutions, and platforms using GenAI technologies.