As per Cognizant, it is running experimental projects that employ generative AI to speed up consulting, design, engineering, and operations with the long-term objective of tripling our employees' productivity.

 

"The tech trend on everyone’s mind is generative AI with recent breakthroughs offering the potential to fundamentally transform our clients’ businesses and increase our own productivity," CEO Ravi Kumar said in his first post-earnings call after taking over from Brian Humphries.

 

According to Kumar, Cognizant is stepping up its investment in generative AI. Cognizant's AI accelerator approach works with clients in studio environments to quickly create prototype solutions for field testing and identify key AI use cases.

 

"We have conducted ideation sessions with over 30 clients and are now working to industrialize solutions to their common challenges. We believe generative AI will revolutionize the technology services industry, creating higher rates of productivity and driving greater prominence for software and data engineering expertise."

 

Cognizant introduced neural IT operations this month, a platform that gives infrastructure and application operations unprecedented levels of automation and intelligence. He said that the company was helping businesses to develop more quickly while lowering cost and risk by using an AI-led automation-first approach.

 

"We believe that enacting new IT operations can actually reduce operational costs by 25% to 45%, reduce mean time to delivery and mean time to detect by 30% to 50% and reduce FTEs by 15% to 30% compared with the use of traditional approaches," he added.

 

Due to fewer administrative expenses and a rise in other income, the US-based software exporter's net profit climbed by 3% to $580 million in the fourth quarter.

 

Additionally, he claimed that the cloud currently represents every industry's greatest opportunity for transformation. In keeping with this, Cognizant unveiled Cognizant Skygrade, a new cloud platform. He said that by cutting the transformation time with Skygrade by 20% to 40%, Cognizant can speed up migration and modernization programmes while lowering continuing operate and governance costs by 15% to 25%.