LONDON and NEW YORK, June 12, 2019 /PRNewswire/ -- Genpact (NYSE: G), a global professional services firm focused on delivering digital transformation, today launched enhancements to its Genpact Cora digital business platform, with pretrained artificial intelligence (AI) accelerators that help companies more easily and quickly adopt AI to drive business impact across the enterprise.
A recent Genpact study of more than 500 senior executives cites top barriers to AI adoption as the lack of skills to design, implement, and maintain AI solutions, and no clarity on where to use AI effectively. Cora Pretrained AI Accelerators are designed to address the critical barriers to AI adoption in the enterprise. These prebuilt engines combine AI technology, deep data sets, and pretrained, contextually relevant industry domain expertise, drawing on Genpact's experience running operations for hundreds of large companies across multiple industries.
The engines help businesses accelerate the pace and impact of AI implementations and intelligent automation – from processing insurance claims to reconciling invoices to filling prescription drug orders, and many other operations. Addressing specific scenarios is critical to drive enterprise impact. For example, an AI solution that classifies adverse events in the pharmaceutical industry is quite different from one that predicts aggregate risk in a lending portfolio. With separate algorithms for specific subprocesses, Genpact helps companies manage large AI applications as the sum of disaggregated tasks. A modular, more defined AI strategy can jumpstart transformation, better manages risk, and drives growth.
"Amidst all of the noise on AI in the enterprise, the need to look at these algorithmic marvels through the lenses of business contexts and process outcomes is imperative for success," said Tapati Bandopadhyay, vice president, HfS Research. "Genpact is focused exactly on this aspect and has done all the necessary groundwork for enterprises to leverage AI and intelligent automation to deliver optimal value. Genpact has very aptly utilized its process focused DNA to make these constructs real for clients so their AI investments can hit the ground running."
With numerous AI accelerators in action, and others currently in development, Genpact is helping companies across many industries eliminate errors and drive faster and more strategic business decisions to unlock growth opportunities. For example:
A large U.S. insurance company that processes hundreds of thousands of claims each week now has pretrained AI accelerators to automatically read, interpret, and make decisions, improving turnaround time to days from weeks while increasing decision accuracy;
A global retailer facing challenges matching the millions of invoices it receives against receipts uses AI accelerators to train software to quickly and effectively manage value leakage; and
A leading U.S. health retailer has simplified managing its high-volume and detailed prescription-to-dispensing label processing by deploying AI accelerators, which speeds orders and reduces risks from manual errors.
"As we've seen time and time again, every innovation eventually reaches an inflection point when a new technology gets to mass adoption," said Sanjay Srivastava, chief digital officer, Genpact. "AI is on this cusp now—modular components like our Cora Pretrained AI Accelerators are the catalyst in speeding adoption and delivering strategic business value to help companies easily and effectively implement AI."
Genpact will feature its AI accelerators at the AI Summit in London, and Sanjay Srivastavawill speak on Wednesday, June 12 at 2:20pm BST. Visit Genpact's website for more information about Cora Pretrained AI Accelerators.
About Genpact Genpact (NYSE: G) is a global professional services firm that makes business transformation real. We drive digital-led innovation and digitally-enabled intelligent operations for our clients, guided by our experience running thousands of processes primarily for Global Fortune 500 companies. We think with design, dream in digital, and solve problems with data and analytics. Combining our expertise in end-to-end operations and our AI-based platform, Genpact Cora, we focus on the details – all 87,000+ of us. From New York to New Delhi and more than 25 countries in between, we connect every dot, reimagine every process, and reinvent companies' ways of working. We know that reimagining each step from start to finish creates better business outcomes. Whatever it is, we'll be there with you – accelerating digital transformation to create bold, lasting results – because transformation happens here. Get to know us at Genpact.com and on LinkedIn, Twitter, YouTube, and Facebook.