Over the next three years, Cognizant Technology Solutions expects to invest $1 billion on generative artificial intelligence (AI). According to CEO Ravi Kumar S, this commitment would include platforms, personnel, collaborations, IT infrastructure, and mergers and acquisitions (M&As).
"We anticipate that Cognizant will be a primary beneficiary of the Gen AI opportunity, as we have over 100 active AI engagements, alongside hundreds more projects leveraging our AI services," Kumar stated during a post-earnings call.
Cognizant introduced its Neuro AI platform in May as part of its entry into AI. With a comprehensive strategy, the platform intends to assist businesses in accelerating the adoption of generative AI technology and maximizing its potential for financial gain. Currently, Cognizant's Bluebolt initiative, a grassroots innovation movement, has produced about 3,000 Gen AI ideas that are in its pipeline. More than 32,000 ideas have been generated by Bluebolt since the program's launch earlier this year, according to Kumar.
Cognizant and Gilead Sciences, a renowned biopharmaceutical business with headquarters in California, last month strengthened their already successful collaboration. Cognizant will manage Gilead's global IT infrastructure, platforms, and applications under the extended agreement, which is anticipated to be worth $800 million (about Rs 6,560 crore) over the next five years. Additionally, Cognizant will hasten Gilead's digital transformation through the use of analytics and AI. For the past three years, Cognizant has provided Gilead with comparable services.
This year, Cognizant strengthened its partnership with Google Cloud to hasten the adoption of AI by companies all around the world. It is hoped that this partnership will help companies create, migrate, and modernize their AI journeys.
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