Cognizant has declared plans to allocate $1 billion over the next three years to enhance its generative AI competencies, as per an internal memo by CEO Ravi Kumar S shared with the media. ” Given generative AI’s potential to create a new wave of opportunities for us, we expect to invest about $1 billion over the next three years in strengthening our generative AI capabilities,” Kumar stated.
Furthermore, the company is committed to training 25,000 employees in generative AI and plans to set up AI studios in Bengaluru, London, and San Francisco. The internal note emphasizes a strategic approach towards the adoption of generative AI, underscoring the need for industry collaborations to devise tailored solutions.
The company aims to utilize generative AI to increase productivity across various domains, transforming coding processes, enhancing customer and employee experiences, driving product innovations, optimizing software and coding, and promoting knowledge management.
Cognizant’s focus is on embedding generative AI at the core of its operations, promising to deliver AI-powered solutions responsibly, securely, and at scale. Its innovation initiative, Bluebolt, has already resulted in over 3,000 generative AI concepts.
Kumar introduced the Cognizant Neuro AI platform, designed to accelerate the adoption of generative AI in a flexible, secure, scalable, and responsible manner. Kumar also revealed that Cognizant is working with over 100 clients exploring generative AI and is overseeing hundreds of AI-centric projects within its delivery framework.