New Delhi: Genpact, a global professional services firm 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.
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 gained from company’s experience of running operations for hundreds of large companies across multiple industries.
It 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.
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.
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 sub-processes, 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, VP – 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,” added Bandopadhyay.
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. 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,” said Sanjay Srivastava, CDO – Genpact.