Back in June, Indian IT services and consulting giant LTIMindtree introduced Canvas.ai, a generative AI platform to accelerate concept-to-value realisation for enterprises, all while adhering to ethical AI principles.

Since then, the Mumbai-based subsidiary of L&T has been making strides in building in-house expertise and infrastructure, allowing their data scientists, AI specialists, and MLOps engineers to engage in R&D projects exploring the potential of LLMs. Moreover, they offer consulting services to guide clients in integrating generative AI into their processes, from use case identification to model deployment. 

“Our strategy for generative AI revolves around a combination of in-house expertise development, research and experimentation and client-centric application to deliver AI services that drive value and solve real-world challenges,” said Jitendra Putcha, EVP– Data, Analytics & AI, LTIMindtree told AIM. 

With over 20 years in the industry, Putcha is known for solving data challenges globally, promoting next-gen solutions, and leading generative AI initiatives. His career includes leadership roles at Cognizant, focusing on data modernisation, AI, and analytics. AIM spoke to him about LTIMindtree’s AI initiatives, hiring strategy for data science candidates, work culture and more. 

The company is actively hiring for different positions in its AI team. 

Inside LTIMindtree’s Data Science Lab

The team addresses various core challenges through data science and AI solutions, including enhancing customer experiences by delivering personalised services, optimising operations by automating tasks and improving decision-making, managing risks by identifying anomalies and potential issues, and exploring new opportunities for growth and competitiveness. 

One specific example of their work involves assortment planning with APEX Solution in the retail consumer industry, which optimises product placement on retail shelves to maximise sales and enhance related product positioning. 

The organisation implements AI and data science by consulting with businesses to identify and prioritise AI use cases, gathering data to achieve actionable insights, and scaling solutions using hyper scaler cloud platforms. They emphasise responsibility by ensuring unbiased AI models. 

Strategically, the organisation focuses on various generative AI architectural styles, including using commercial and open-source APIs for tasks like language translation and code conversion, fine-tuning foundation models using their Canvas.ai platform for secure data, employing RAG for real-time data incorporation, and co-investing in building foundation models when access to proprietary data is available through key customer affiliations. 

Interview Process

“We are looking for candidates with skills in data science, AI, and ML, with a strong expertise in deep learning and NLP, in-depth domain knowledge, proficiency in Python programming, a learning mindset conducive to prompt engineering work, effective communication skills, and the ability to stay current with the latest trends for adoption,” said Putcha, talking about the interview process at LTIMindtree.

Internally, the company employs an automated screening and assessment platform called WeCP to evaluate candidates before they can apply for AI-related positions. 

“To identify exceptional AI talent, especially among the GenAI’s demographic, we engage AI veterans to lead evaluation panels and mentor participants in nationwide hackathons like the Smart India Hackathon and the Singapore-India hackathon,” he added.

The interview process for a lateral talent hunt includes multiple rounds: the screening round, the first technical assessment round, the second comprehensive technical round, and the final round focusing on company culture and values, often involving discussions with the HR team. This well-structured process ensures a holistic assessment of candidates before making a final hiring decision.

However, Putcha elaborated on the most common mistake candidates make when interviewing for a data science role in the company. He said that candidates often neglect to refresh their knowledge of key data science concepts and Python programming skills. Additionally, some candidates struggle to articulate domain-specific business problems and demonstrate how their solutions align with broader outcomes and impacts.

Expectations

When candidates join the data science team at the company, they can expect to serve as strategic advisors to clients, leveraging proprietary platforms and products to drive substantial business improvements such as increased revenue, reduced total cost of ownership, optimised operations, and enhanced fraud and risk detection. 

Alongside this, employees will have a plethora of upskilling opportunities that encompass a comprehensive approach to employee growth and AI proficiency. These initiatives include a career framework called ‘My Career My Growth’ for career progression, a focus on skill development with the Shoshin School offering over 5,000 courses and a Hub and Spokes model for AI content incubation. 

Work Culture

The company’s work culture is characterised by a strong focus on its people, emphasising employee well-being, empowerment, and societal impact. “This culture is driven by employee-friendly policies, flexible work arrangements, and a performance-driven approach,” Putcha explained. 

“What sets us apart from competitors, especially for the data science team, is its unique positioning as both nimble and financially robust. Our solutions are oriented towards benefiting society, making it a compelling and inspiring place to work,” said Putcha. The Yin-Yang model allows for flexibility in work arrangements, with a strong emphasis on continuous learning and innovation. 

In terms of diversity, the gender ratio in the AI team is approximately 30%. The company is committed to promoting diversity, equity, and inclusion, creating a safe and inclusive environment for differently-abled employees as part of its DEI Charter. 

“Our dynamic learning environment empowers AI specialists to excel in their field, while our unique culture, focus on customer centricity, and innovation-driven approach provide a platform for making a meaningful impact in the industry,” concluded Putcha. 

Read more: Data Science Hiring Process at Happiest Minds Tech

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LTIMindtree, a global technology consulting and digital solutions company, and IBM have announced a collaboration to establish a global, joint Generative AI Center of Excellence (CoE) in India. The co-innovation center will combine the power of the IBM watsonx AI and data platform with the engineering skills of LTIMindtree.

The CoE, located in India, will focus on building point solutions to accelerate clients’ generative AI adoption journeys. It plans to offer a comprehensive suite of services, combining LTIMindtree’s expertise in data and machine learning model customisation and full-stack engineering with IBM watsonx technology, including watsonx.ai, watsonx.data, watsonx.governance, and AI assistants.

Nachiket Deshpande, COO and Whole-time Director of LTIMindtree, emphasised the importance of open innovation in the digital era, stating that the collaboration aims to position LTIMindtree at the forefront of advancing AI technologies and empowering businesses to achieve success with governance.

Kate Woolley, General Manager of IBM Ecosystem, highlighted the integral role of IBM Service Partners like LTIMindtree in helping enterprises maximise the benefits of generative AI technology throughout their AI adoption journey.

The collaboration is expected to offer various benefits to clients, including access to IBM watsonx.governance, watsonx.data, and watsonx.ai. The CoE will provide an enterprise-ready toolkit for AI governance, data modernisation and warehouse augmentation services, and a suite of services dedicated to modernising full-stack applications across domain-specific use cases.

The Center of Excellence aims to expand the scope of generative AI applications for clients’ digital initiatives, utilising the IBM watsonx platform and AI assistants, machine learning, speech recognition, natural language processing, and conversational AI to augment end-user experiences.

The post LTIMindtree, IBM Setup Watsonx Center of Excellence for GenAI in India appeared first on AIM.

LTIMindtree recently announced a strategic collaboration with IBM to advance the quantum innovation ecosystem. This move will enhance the company’s capabilities in tackling complex problems across various industries using quantum computing. 

In 2023, the government announced an allocation of Rs 6,000 crore for the National Quantum Mission. LTIMindtree’s move to become the first Indian Global System Integrator to join the IBM Quantum Network could accelerate innovation in this space.

In an interaction with AIM, Aan Chauhan, chief technology officer at LTIMindtree, shared insights into the partnership’s potential. He also discussed the company’s vision for quantum computing’s role in addressing industry-specific challenges.

Chauhan explained that quantum computing’s strength lies in solving specific classes of problems, where classical computing approaches are insufficient. This includes optimisation, machine learning, simulation, and cybersecurity. 

The CTO detailed the specific problems LTIMindtree aims to address using quantum computing across various industries. 

In the BFSI sector, the company is exploring “fraud detection, anomaly detection, risk assessment, and portfolio optimisation”. For the energy sector, LTIMindtree is looking into “smart grid applications, such as unit commitment, demand forecasting, and value chain optimisation across energy production and distribution”. 

The company also assesses use cases in manufacturing, travel, and high-tech industries.

LTIMindtree’s recent collaboration with IBM provides access to advanced quantum systems, including the ‘Heron’ processor and the latest tools from IBM’s development roadmap. Chauhan noted, “Access to these systems and resources empowers us to rapidly experiment with the most complex challenges using the most sophisticated quantum systems.” 

This partnership positions LTIMindtree as a quantum-ready partner, prepared to help clients fast-track the application of quantum technology to their business problems.

This access, combined with the opportunity to collaborate with IBM Research members, accelerates applied research and enables LTIMindtree to help clients fast-track the application of quantum technology to their business problems.

The collaboration also extends to joint quantum research projects with IIT Madras, supporting India’s National Quantum Mission and aims to create a strong industry-academia ecosystem.

“Substantial research is being conducted at IIT Madras in areas such as quantum computing, quantum information theory, secure quantum communications, quantum sensing, and metrology,” Chauhan noted. 

The partnership aims to “leverage these research efforts to design, develop, and test working prototypes for specific use cases”.

This three-way collaboration between these premium institutions could also be a move to address the need for substantial computational resources used to train and run generative AI models, as Chauhan had told AIM earlier. 

“The increased processing power of quantum computers can enable computations faster than the classical computer by harnessing the principles of quantum mechanics. This may allow for faster processing of large-scale generative models, enabling more complex and realistic outputs within shorter timeframes,” he said.

Upskilling a Quantum Workforce

To develop a skilled workforce in quantum computing, LTIMindtree is building teams and has established a comprehensive framework for workforce development in collaboration with IIT Madras and IBM. This framework includes specialised training modules, hands-on workshops, and real-world projects.

“We have focused on building multidisciplinary teams to unlock quantum computing’s potential for industries,” Chauhan explained, highlighting the inclusion of experts across quantum physics, mathematics, quantum algorithms, computer science, machine learning, and industry-specific domains.

Recognising the need for specialised expertise, LTIMindtree is also committed to upskilling professionals in adjacent skills to create a well-rounded and effective team.

Chauhan also explained the structure and objectives of the planned quantum computing workshops, emphasising the value of bringing together diverse stakeholders. 

“Last year, we organised industry-focused workshops involving our researchers, clients, and partners,” he said, noting the sessions’ benefits in providing insights into quantum possibilities and guiding research efforts. LTIMindtree plans to host more targeted workshops to foster valuable insights and solutions.

Regarding research grants, Chauhan said, “With the capabilities and collaborative ecosystem that we have developed, we look forward to contributing meaningfully to such calls and consortiums as an industry partner with quantum expertise.” 

This multifaceted approach to workforce development and research collaboration underscores LTIMindtree’s commitment to advancing quantum computing capabilities and contributing to the Indian and global quantum innovation ecosystem.

What’s Next? 

Joining the IBM Quantum Network aligns with LTIMindtree’s long-term business and technology strategy, enhancing the company’s ability to apply advanced emerging technologies to solve complex business problems. 

Chauhan believes this collaboration will provide clients with an early-mover advantage, enriching the ecosystem with advanced accelerators, solutions, and practical research projects. As the first Indian company to join the IBM Quantum Network, LTIMindtree plans to leverage this position to differentiate itself in the competitive landscape. 

He outlined the journey starting with “quantum awareness”, a foundational understanding of what quantum computing can achieve and its potential impact on businesses. This is followed by “quantum preparedness”, which involves assembling specialised teams, evaluating multiple platforms, and developing use cases. 

Chauhan emphasised, “As a trusted partner deeply familiar with our client’s challenges and possessing expertise in quantum technology, we are taking charge of the essential elements of this journey, ensuring our clients can navigate this space and deal with its complexities.” 

He further highlighted the creation of an ecosystem and capabilities specifically designed to give clients a jumpstart on their quantum journey. 

By leveraging collective resources, expertise, base model use cases, accelerators, and quantum integration frameworks, Chauhan believes, “We can expedite every stage of this process, from increasing awareness to eventually harnessing the tangible benefits of quantum computing.”

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IBM announced that LTIMIndtree, a global technology consulting and digital solutions company, has joined the IBM Quantum Network to explore quantum computing innovation for the benefit of its global clientele across multiple industries.

LTIMindtree is the first Indian Global System Integrator (GSI) to join the IBM Quantum Network.

As part of the IBM Quantum Network, LTIMindtree expands on its platinum partner status with IBM and joins a global community of Fortune 500 companies, top universities, research labs, and startups.

LTIMindtree will have access to IBM resources, including IBM’s global fleet of quantum computing systems over the cloud, software, and associated expertise. This move is a strategic step toward LTIMindtree helping their customers benefit from the transformative value of quantum computing technologies.

LTIMindtree will also collaborate with the Indian Institute of Technology (IIT) Madras, which is also an IBM Quantum Innovation Center, on joint quantum research and workforce development.

“These collaborations are more than an innovation milestone; they’re an important step towards a future where quantum computing could help solve more complex problems faster and more efficiently.

“Importantly, it positions us to expedite our customers’ journey towards realizing the immense value of quantum computing, readying them to leverage these advanced technologies for transformative solutions,” said Aan Chauhan, Chief Technology Officer, LTIMindtree.

LTIMindtree’s plans across these collaborations are to establish a series of long-term projects, including applied research toward business and societal problems, quantum computing workshops, and research grants.

These initiatives aim to nurture a new generation of quantum computing professionals and researchers at LTIMindtree, creating a sustainable and innovative ecosystem.

The post LTIMindtree Joins IBM Network to Advance the Quantum Innovation Ecosystem appeared first on AIM.

For Indian IT, the year 2023 unfolded as a narrative of paradoxes and challenges. While luminaries like TCS, Infosys, HCLTech, Wipro, and Tech Mahindra celebrated record-high deal wins, the overarching ambiguity surrounding revenue growth cast a shadow over the sector’s trajectory for the entire year. 

Industry pundits, reflecting on the incidents of 2023, echoed sentiments of a sector grappling with its weakest performance since the recession of 2008. In the midst of this uncertainty, the beacon of hope for the Indian IT sector emanates from the realm of generative AI. 

Can 2024 be the year of AI deals?

Pareekh Jain, CEO of EIIRTrend, predicts that around 2% of the revenue in the coming year would be through generative AI directly. He also highlighted how AI was one of the positive things in 2023 for Indian IT, and this would influence a lot of partnerships and deals in 2024.

On the contrary, the $1.5 billion Infosys AI deal that got cancelled would also play a major impact in the industry. “A lot of companies would realise that moving too fast and investing in technologies would not be ideal. Thus, they would move with a lot of caution,” said Jain. But he believes that deals would definitely be a big focus this year.

As industry analysts predict a transformation from Q3 onwards, a nuanced narrative of deal divergence and recalibration unfolds. Large deals are anticipated to derive impetus from vendor consolidation, steering away from conventional digital transformation paradigms. 

As generative AI emerges as a focal point of interest, its potential impact on revenue is forecasted to crystallise in the third quarter of 2024. Jain said that though in 2023 AI was not the focus of deal in Indian IT, it was one of the biggest factors of the deals. “Generative AI could also be a deal breaker in 2024,” said Jain, highlighting that it would be the focus. 

That said, direct generative AI focused deals would definitely be the focus. “More than 50% of the deals would be directly influenced by generative AI,” said Jain.

For example, HCLTech announced a slew of new deals, where it will be involved in digital and cloud transformation, alongside generative AI initiatives. TCS also predicts that Indian IT firms would be a major focus globally and expects a lot of new deals in the year, along with 12 million more net jobs by 2025. 

LTIMindtree has expressed its commitment to integrating generative AI into its products and solutions, revealing that they have participated in more than 100 discussions and currently have over 20 active engagements with clients.

Wipro has doubled the number of customers as compared to the last quarter, and would focus on large deals in 2024. HCLTech is working with a handful of customers with generative AI projects, while LTIMindtree is engaged in over 20 clients for generative AI.  

Infosys, along with a few other parties including Elon Musk, AWS and others donated USD 1 billion to OpenAI. TCS and Wipro also announced generative AI capabilities in partnership with Google Cloud.

A lot in the pipeline

Companies have actively discussed various ongoing experiments and proof of concepts (PoCs) in their pipelines. In the previous month, Accenture disclosed an industry-leading generative AI pipeline valued at $450 million in new bookings, a significant increase from the $300 million reported for the entire fiscal year of FY23. 

This along with a $3billion investment in AI for three years. The company anticipates a shift from general AI experimentation to more proof of concepts and pilot projects in 2024.

Similarly, TCS reported having over 250 generative AI opportunities in its pipeline, Infosys is engaged in over 50 active generative AI projects, and HCLTech is involved in more than 140 generative AI PoCs at various stages. 

However, the caveat is that these PoCs are still in the pre-production stage and are far from generating immediate revenue. Analysts believe that only 10% of the PoCs will move to production. Considering this, a rapid recovery in the IT services sector in 2024 seems unlikely. 

Analysts from Kotak note that despite high expectations for a recovery in discretionary spending in 2024, enterprises across most sectors are still focused on cost reduction. Many have set cost-saving targets extending into 2024, and the reprioritisation of spending toward areas of investment is not yet complete.

2023 continued?

During the earnings call, CP Gurnani, former managing director of Tech Mahindra said, “Tech Mahindra is now working in about 60 customer locations on actually using generative AI to enhance operations, innovation, and productivity.” 

On the other hand, Indian IT firms have also largely stopped hiring freshers. This trend might continue this year, along with rampant possible layoffs.

In the initial half of fiscal year 2024, the top-tier IT firms collectively shed 39,000 employees, signalling a strategic recalibration in response to evolving market dynamics. Delays in lateral hires and adjustments in compensation strategies underscored a pragmatic approach to talent acquisition.

Overall, the Indian IT majors have trained close to seven lakh employees in generative AI, in partnership with companies like Google, Microsoft, Oracle and NVIDIA. The monetary impact of the same would be on the forefront of discussions in 2024.

The post What to Expect from Indian IT in 2024 appeared first on AIM.

In its recently announced earnings call, global IT giant Accenture revealed that despite revenue growth of a mere 3% with $16.2 billion, it made upwards of $450 million in new bookings from GenAI applications alone, including a deal with McDonald’s and BBVA, amongst others.

The earnings from GenAI, up 50% from $300 million in the previous quarter, indicate Accenture’s early leadership position in GenAI compared to regional IT providers. The bold proclamation of such a strong number also makes them stand ahead, infusing market confidence in the company. 

“With respect to GenAI, I just want to say $450 million in sales this quarter, we’re very pleased with. It demonstrates we are leading here,” said CEO Julie Sweet.

On the other hand, industry experts anticipate that gen AI’s contribution to the top IT firms’ overall revenue to be less than 1%, even with an increasing number of pilots and partnerships in this emerging field. Apurva Prasad, Vice-President of Institutional Research at HDFC Securities, observed, “The overall scale of AI deployments across sectors…is quite strong. However, generative AI’s contribution as part of it remains small for the time being.” 

Furthermore, in comparison, Indian IT companies like TCS, Infosys, Wipro, HCLTech, and LTIMindtree haven’t released any GenAI-specific numbers indicative of their roadmap or growth indicators. Instead, these companies have focused on partnerships with giants like Microsoft, AWS, and Google. They are focused heavily on employee upskilling and injecting significant investments, with companies like Wipro planning $1 billion in AI over three years, and launching the Wipro AI360 ecosystem. 

GenAI Integration with Overall Strategy

Accenture incorporates GenAI within its broader digital transformation strategies for clients, ensuring alignment with their overall business goals. CEO Julie Sweet emphasised that GenAI is not plug-and-play, but a sophisticated technology requiring deep understanding to be effectively scaled.

“And this is Accenture’s leadership position, right? We have a strategy, consulting, deep industry and functional expertise,” added Sweet, underscoring Accenture’s unique position in this evolving field.

Experts predict GenAI bookings could exceed $4 billion in FY24, with Accenture poised to capture a significant share, backed by its $3 billion investment in data and AI over three years aimed at scaling client value in 2024. The company derives confidence to go all in from its experienced cloud journey

In the realm of acquisitions and partnerships, Accenture’s collaborations with major industry players boost its capacity to merge technology with business value. Sweet foresees 2024 as a pivotal year, transitioning clients from experimentation to scalable GenAI applications.

“Think of 2024 as being the shift for our clients from experimentation to scale, and we believe we’re in the best position to lead that shift to value.” 

Accenture is actively integrating GenAI in client projects, such as developing a GenAI-powered financial coach for BBVA and enhancing content production for a global hospitality group. A key project with McDonald’s focuses on integrating cloud technology and GenAI to revolutionise customer and employee experiences.

The company’s expansion strategy in the space is also marked by significant acquisitions across various regions, totalling $788 million, enhancing cloud capabilities and strengthening its AI expertise. Notably, the acquisition of Ammagamma adds 90 AI specialists to Accenture’s team, contributing to its goal of doubling its skilled data and AI practitioners to 80,000.

Previously,  the company had invested in a total of 11 AI-related businesses, of which three are from India: Flutura, Bridgei2i, and Byte Prophecy, with Flutura being the most recent investment.

A Good Omen for Indian IT

Indian IT companies have also shifted their focus to building a skilled workforce and ramping up their investments in GenAI as clients have shown a willingness to fund early PoC projects—leading to a new wave of collaboration between service providers and their clients to explore GenAI’s potential.

Indian IT majors have trained nearly seven lakh employees in GenAI. TCS has over 100,000 GenAI-ready employees, according to Milind Lakkad, executive vice president and global head – human resources. Infosys has trained 57,000 employees, while Wipro has trained 180,000. HCLTech and LTIMindtree are also focusing on training their employees in GenAI.

Infosys has launched Topaz, focusing on GenAI tech, with CEO Salil Parekh stating the company is engaged in 80 GenAI projects. Meanwhile, Coforge introduced Quasar, a GenAI platform with over 100 cognitive and generative use cases, and LTIMindtree launched Canvas.ai to help clients scale their GenAI capabilities.

Additionally, Accenture, which follows a September to August financial year, disclosed that its GenAI project bookings constitute approximately 2.4% of Accenture’s total workload—which accounted for only 0.6% during the March-May period. This indicates an acceleration in momentum and increasing revenue for the industry.

However, A researcher from a Mumbai-based brokerage, requesting anonymity, said GenAI use cases might eventually lead to faster monetisation, but not immediately. They added, “At least the second half of this fiscal will remain without any major deals in generative AI for any of India’s IT outsourcers.”

The economic downturn has also impacted Indian IT stocks. Shares of TCS, Wipro, and Tech Mahindra have declined by 2% since September end, while Infosys’ shares have stayed flat. HCL Technologies, on the other hand, has seen growth, attributed to its mega-deal wins and a strong engineering practice.

Amid these challenges, Infosys and HCL Technologies have revised their annual revenue growth projections downwards. Infosys has reduced its growth outlook to 1-2.5% for this fiscal year, while HCL has adjusted its guidance to 4-5% organic growth. Wipro indicated a potential revenue contraction of up to 3.5% for the current quarter.

Analysts also expect IT services expenditure to remain muted in the near term as businesses typically decide their annual budgets only after February. Accenture itself has pointed to slower budget-related decision-making, especially in tech and media companies, setting its q2 target to -2% to 2%. Hence, while gen AI holds promise, its current impact on revenue growth in India’s IT sector seems limited amid the industry’s ongoing struggle with global economic uncertainties and conservative client expenditure. However, it will be interesting to see how earnings from GenAI pan out for Indian IT as the quarter approaches.

The post Accenture’s Gen AI Numbers Signal Shift for Indian IT appeared first on AIM.

After launching the Generative AI Studio under its amplifAI0->∞ suite of AI offerings and solutions, Tech Mahindra chief executive and managing director CP Gurnani recently took to X to share that it is the first major Indian IT company to be working on their proprietary large language model called Project Indus. 

The open-source large language model aims to speak over 40 Indic languages in the first phase, including Kinnauri, Kangri, Chambeli, Garhwali, Kumaoni, Jaunsari and more. 

The “​​civilisational” initiative will be carried out by the Makers Lab of Tech Mahindra to develop India’s foundational model for various Indian languages, starting with Hindi. The project collects Hindi dialect speech data to train a language model using NLP algorithms. Contributors can anonymously submit short to extended speech samples with the option to delete recorded data. 

According to the official website, mobile numbers are optionally collected for reference and gamification purposes, with encryption and a retention period of up to seven years. No personal information will be shared with third parties. 

However, it is not yet clear whether Makers Lab will build the model from scratch or base it on top of any existing LLMs like GPT-4 or Llama 2 like Stanford’s Alpaca and Vicuna-13B.

Unpacking the Gen AI Vows of Indian IT

When it comes to generative AI, all other Indian IT giants have also poured sufficient funds. However, their excitement in channelling the full potential of generative AI has led to no real use cases. 

The Indian IT giants are forming partnerships to advance generative AI adoption. In an earlier interaction with AIM, Wipro CTO Subha Tatavarti said that the company has been working around generative AI for the past two years. Wipro teamed up with IIT Delhi to establish a Center of Excellence (CoE) as part of their USD 1 billion AI-driven innovation initiative in the Wipro ai360 ecosystem. They aim to combine Google Cloud’s generative AI with Wipro’s AI IP, business accelerators, and industry solutions. 

Meanwhile, HCL partnered with Microsoft and AWS to enhance their generative AI efforts, while TCS is collaborating with Google Cloud to utilise foundational models like Vertex AI and generative AI Application Builder. Infosys follows an “AI First” strategy, focusing on specialised AI models from open-source LLMs, using them to accelerate clients’ AI initiatives through their Topaz framework, which encompasses generative AI-based services, solutions, and platforms.

No Moat, Only Fluff Talk

This is not the first time that we have seen ITs jumping onto the bandwagon of something new, something that is trending in the tech ecosystem. When Meta introduced Metaverse with much fanfare, we saw a similar reaction. 

TCS started the trend, followed by Tech Mahindra and Infosys, all announcing their metaverse-related products and services in February of 2022. As a part of the metaverse programme, TCS’ “themaTiCS” suite targets improving remote work experiences where only 25% of employees are in the office at any time. Following the lead, Infosys introduced the Metaverse Foundry similar to Topaz, offering ready-to-use templates and is said to have found 100 use cases for enterprises to embrace metaverse offerings spanning XR consulting, blockchain consulting, digital twin and more. Tech Mahindra also introduced the TechMVerse, leveraging its 5G capabilities to deliver immersive experiences. 

However, when Meta pulled the plug on their Metaverse dream, Indian ITs seemed to have lost interest too. 

This time, Indic Languages are coming back to riding the generative AI wave, building indigenous LLMs in India is a huge growth opportunity considering that it is home to 122 major languages and 1599 other languages, along with 22 official languages, as per Census 2001. 

At present, 58.8% of the content is in English, followed by Russian, Spanish and French. Forget about native languages like Garhwali or Kumaoni, even Hindi does not make it to the top ten highlighting a significant shortage of local language content. 

Project Bhashini, was introduced in collaboration with Microsoft. Finance Minister Nirmala Sitharaman also introduced the National Language Translation Mission (NLTM) in the 2021-22 budget.

Project Indus is an important initiative in this direction. Gurnani urged people from different vocabularies to contribute to making this project successful as an LLM is only as good as the data it is trained on. And Tech Mahindra is the only company to work on its promises.

Choosing AI Upskilling Over Model Building

When it comes to building its own LLMs, India is taking a different approach, focusing on the upskilling of their employees. This can be attributed to the fact that historically, technology adoptions have increased work volume, requiring more expertise and hands.

All the heads of these companies like K Krithivasan (TCS), Salil Parekh (Infosys) and C Vyakumar (HCL) have highlighted generative AI as the quarter one’s focal point of this year, with clients exploring its potential for enhancing productivity, content creation, and customer service. 

However, while generative AI is seeing a  strong interest, clients cutting back on IT spending is a concern for HCL and Infosys, impacting revenue growth forecasts, as per a report by The Register. Despite the short-term hype, executives believe AI will bring meaningful long-term benefits, although measuring its effectiveness remains challenging.

Tech Mahindra, Infosys, TCS, HCL and Wipro have expanded their partnerships with major tech players like AWS, Google and Microsoft partnerships to upskill employees in generative AI. Traditionally, the huge talent pool of India has been seen as beneficial for a quick adopter of technology and not building inhouse. And now with the upskilling, the process will only get faster and smoother.

Read more: Wipro’s Tryst With Generative AI Began Way Before ChatGPT

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While generative AI is catching everyone’s imagination, Quantum computing is seen as a technology that could have potential impact in the coming years. However, there is a converging point of both the technologies.

Generative is an exciting technology; however, it doesn’t come cheap. It cost OpenAI millions of dollars to make the technology accessible for all. The costs encompass both the expenses involved in training Large Language Models (LLMs) like the GPT models ( which powers ChatGPT) and the ongoing costs of running these models to respond to user queries. Training and running generative AI models require substantial computational resources, making them compute-intensive, financially burdensome, and environmental costs.

“Future quantum computers and quantum-inspired techniques promise to address these challenges and make Generative AI more accessible, efficient, and advanced. The increased processing power of Quantum Computers can enable faster computations than the classical computer by harnessing the principles of quantum mechanics. This may allow for faster processing of large-scale generative models, enabling more complex and realistic outputs within shorter timeframes,” Aan S. Chauhan, chief technology officer, LTIMindtree, told AIM. 

Moreover, efficient data processing through Quantum Computing can help process larger datasets and more efficiently uncover the patterns and anomalies within the data. “Quantum computers can also solve optimisation problems in generative AI models more efficiently than classical computers resulting in improved performance and generation capabilities. Additionally, it can add value through improved sampling techniques, generating solutions beyond image and text, etc. 

However, Chauhan does stress that we’re still in the early days of quantum computing and the full potential of how much it can advance generative AI will depend on advancements in hardware, algorithms, and further research in the field.

Quantum computing research at LTIMindtree

In the present day, LTIMindtree is indulging in significant research when it comes to quantum computing. “Our research effort primarily aims to perform applied research to unearth the potential benefits Quantum technology could yield in the short, medium, and long term for all the industries we cater to.”

As the technology matures from the current Noisy Intermediate-Scale Quantum (NISQ) phase towards the era of Fault-tolerant Quantum Computing, the IT services company’s research endeavours are centred on extracting incremental value from this evolving technology. “To accomplish this, we have deployed a multi-skilled team of physicists and software engineers actively developing Quantum Computing use cases catering to sectors like banking, financial services, insurance, manufacturing, logistics, etc. Our initial focus for these use cases is Quantum Optimisation, Quantum Machine Learning, and Quantum Simulation.”

Moreover, the advent of Quantum Computing is paving the way for novel forms of cyber-attacks, including the concept of ‘harvest now, decrypt later, according to Chauhan. This implies that cyber attackers could store encrypted data today and decrypt it later using a sufficiently powerful Quantum computer. “Recognising this trend, we’re actively developing capabilities in solutions for Post-Quantum Cryptography and Quantum Key Distribution (QKD) to help enterprises mitigate these risks.”

How can Quantum Computing benefit Indian IT?

The Indian IT sector has been crucial in spearheading global digital transformation over the past few decades. According to Chauhan, the sector has acquired extensive domain knowledge across various industry verticals by leading this transformation. “This unique combination of experience in building complex IT systems and deep domain understanding positions the Indian IT sector favourably to implement research findings of the emerging Quantum technology into practical applications.”

Opportunity is enormous for IT service providers to introduce innovative new products and offerings around quantum technologies. One such avenue is leading in developing quantum-classical hybrid workflows, where integrating quantum computing with conventional computing allows for the extraction of incremental value. “For example, conventional High-Performance Computing (HPC) systems can benefit from quantum-inspired algorithms for optimisation tasks, amplifying their computational capabilities.”

Another avenue is post-quantum cryptography, where Indian IT companies can create encryption/security offerings to meet the rising demand for advanced data protection. Beyond these examples, there could be many novel ideas around quantum machine learning, simulation, etc.

Moreover, the IT industry has the potential to make a noteworthy contribution to developing a highly influential quantum-ready workforce through partnerships with research institutes and universities, reskilling initiatives, and targeted training programmes. 

“By collaborating with leading research institutes, organisations can ensure their position at the forefront of harnessing this evolving cutting-edge technology to address real-world business challenges as the technology matures effectively.”

India’s quantum computing ambitions

Earlier this year, the Indian government greenlit the National Quantum Mission (NQM) with a budget of INR 6003.65 crore spanning from 2023-24 to 2030-31. The mission’s objective is to foster scientific and industrial R&D, nurture growth in Quantum technology, and create a dynamic and innovative Quantum technology ecosystem.

Chauhan said Quantum technologies offer immense potential in addressing complex problems spanning societal, industrial, and national security interests. Achieving self-reliance in this domain is of utmost priority and the National Quantum Mission is a step in this direction.

“By facilitating the development of intermediate-scale quantum computers, establishing secure quantum communications networks, and advancing research in quantum materials and devices, the mission paves the way for creating ground-breaking applications across sectors, including communication, health, financial services, energy, security, etc. 

“Additionally, the planned four thematic hubs, Quantum Computing, Quantum Communication, Quantum Sensing & Metrology, and Quantum Materials & Devices, will be platforms for collaborative and consolidated research efforts between leading research institutes, academia, and industries. These efforts will drive faster innovation toward addressing critical challenges and developing ground-breaking quantum technologies.”

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Analytics India Magazine’s much-lauded women-in-tech conference saw participation from over 500 attendees, 50 speakers and 200 firms. The 5th edition of ‘The Rising 2023’ featured inspiring stories of women from different backgrounds over two days. 

The power-packed event concluded with the ‘Best Firms for Women in Tech Awards’ that recognises companies that have implemented successful programs to promote diversity, provide equitable opportunities for career growth, offer coaching and mentorship to women, and help close the gender pay gap. Sagarika Ghose, the renowned award-winning journalist and author, handed over the awards on behalf of AIM.

Let’s take a look at the winners.  

Genpact

Genpact fosters an inclusive culture by offering paid leave and supportive resources for working parents. It actively pursues diverse talent through campus recruitment and partnerships with minority organisations. The company also sensitises its hiring teams through unconscious bias training and inclusive language practices.

Lowe’s 

Like Genpact, Lowe’s prioritises an inclusive workplace for women associates, offering equal opportunities for career growth and implementing programs to address the barriers before and after joining the workforce. They prioritise equity over equality to ensure all associates have the resources they need to succeed.

Verizon Data Services India Pvt Ltd (Verizon India)

An early adopter of the Maternity Benefit Act, 1961, Verizon Data Services leads in diversity and inclusion and adapts to changes in maternity benefits. It launched the ‘WINGS’ program in 2016, supporting women returning to work after a career break and addressing hiring biases.

Futurense Technologies

Futurense values and supports its female employees throughout their lives, and this includes even those on a career break. They prioritise potential over current capabilities in hiring and have achieved gender equality in their leadership team. The company values diversity and has initiatives to support women from Tier 2 and Tier 3 cities, offering free accommodation and mentorship to those relocating for work.

TheMathCompany Inc

Joining the winners is TheMathCompany, which offers inclusive parental leave, and period leave and is committed to diversity, equity, and inclusion. Its DE&I team conducts research, advocacy, and training on leadership awareness and unconscious bias programmes. The company supports employee resource groups and offers annual medical check-ups, with a special package for women.

Wipro

Wipro has a policy for holidays, time off, and parental and adoption leaves. They also have a program called ‘Begin Again’ for women returning to work. Wipro ensures equal employment opportunities for all and supports gender equality and women’s empowerment through the ‘UN Women Empowerment Principles’.

Continental Automotive Components – Technical Center (India)

Continental Automotive Components is dedicated to gender diversity and inclusion, with successful strategies to promote women in tech. They started Launch-Pad, a six-to-nine month program under which they hired 16 women on career breaks up to five years, providing on-the-job training, technology learning, and mentoring.

Fractal Analytics

Fractal prioritises diversity, equity, and inclusion in the workplace. They offer unlimited leaves and a gender-neutral program, ‘ReBoot’, for those transitioning back to work. Additionally, an AI chatbot supports employee well-being and active listening.

ABInBev 

ABInBev is our next winner for promoting diversity, equitable career growth, closing the gender pay gap, and offering various leave options for primary caregivers. They also have a ‘Ramp On’ program for returning mothers and several benefits, including enhanced maternity coverage and support for childcare and elderly care.

DBS Technology Services 

DBS is committed to supporting women. Their key initiatives include a grievance redressal policy, women’s security sessions, an emergency safety service app, and the ASCEND program offering coaching and mentorship. They also run the MyPersona women leadership development program, graduating 11 women in 6 years.

Tata AIA Life Insurance

Tata AIA Life Insurance promotes diversity and inclusion in the workplace through programs that support career growth, coaching and mentorship, and work on closing the gender pay gap. They provide extensive support to employees, including maternity leave, medical aid, emergency funds, and flexible work hours. Women employees also have access to specific programs and leave options. 

LTIMindtree

The next winner, LTIMindtree values and supports their female employees through extensive leave policies, prevention of sexual harassment training, gender pay parity, and work-from-home flexibility. They also have a women-specific community for support and engagement in career development and well-being.

Sify

Sify prioritises diversity, equity, and inclusion in their workplace by empowering and uplifting women. They’ve taken various actions to provide equal opportunities, such as reviewing budgets to prioritise hiring women, creating referral programs, and participating in hiring events for women.

The post The Rising 2023: Best Firms for Women in Tech appeared first on AIM.

On Monday, LTIMindtree, a global technology consulting and digital solutions company, marked its  trading debut on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). 

The shares will now be traded as LTIMindtree on BSE and LTIM on NSE.

The shareholders of the formerly Mindtree that delisted last month (November 23, 2022) have now been issued shares of the then LTI in the ratio of 73 shares for every 100 shares of Mindtree.

The parent company L&T holds 68.73% of LTIMindtree.

Before the merger 

LTIMindtree was formed through the amalgamation of the erstwhile L&T and Mindtree, a prominent technology consulting and digital solutions company. 

LTIMindtree is a major IT services provider with its clientele spanning over 750 global companies and over 90,000 professionals across 30 countries.

Presently, LTIMindtree ranks fifth largest IT services company in India in terms of market capitalisation.

Marking the occasion of its debut through the iconic ringing of the bell at BSE, AM Naik, group chairman of L&T Group, said that LTIMindtree combines LTI’s engineering and Mindtree’s software DNAs, blending their problem-solving and digital-first strengths into a unique value proposition for their clients, further reinforcing L&T’s acclaimed tradition of innovation, excellence, trust, and empathy.

Last month, LTIMindtree inaugurated a new one-lakh sq. ft centre in Hyderabad that is set to accommodate 1000 professionals.

Bets big on AI and Analytics 

In October, Larsen & Toubro Infotech (LTI) announced its second-quarter results for FY23. The company recorded revenue growth of 21.6% in constant currency and a profit of 18.8%—the revenue growth in USD stood at 18.1%. Of this, analytics, ai and cognitive contributed 41.4% revenue, followed by enterprise integration and mobility, ADM and testing, enterprise and solutions, and cloud infrastructure and security which stood at 34.6%, 15.8%, 11.3% and 7.3% respectively, 

Meanwhile, Mindtree recorded 31.5%  revenue growth and 27.5% net profit year-on-year. Of which, customer success contributed 40.7% revenue, followed by enterprise IT, Cloud, and data and intelligence, which stood at 22.9%, 20.3% and 16.1% respectively. 

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The year’s biggest news for the Indian IT was the merger of Mindtree and L&T Infotech (LTI), to form the fifth-largest IT services company in India. The proposed integration would reportedly be called LTIMindtree, with over 80,000 employees and combined revenue of USD 3.5 billion. 

The joint entity is in the process of establishing an integration committee, and the merger will be closed in about a year. Close industry watchers say that this move was quite expected. Interestingly, parent company Larsen and Toubro Group (L&T) undertook a hostile takeover of Mindtree back in 2019, a first for the Indian IT industry.

LTI and Mindtree both play in Analytics services businesses, just like most other large IT/ITes service providers. But, what would the analytics services business of the merged entity look like?

Analytics offerings of the companies

LTI

In late 2021, the company announced the launch of Fosfor, an analytics-based data-to-decision platform. Five of its main offerings are – DataOps product called Spectra, autonomous data fabric product Optic, MLOps platform Refract, no-code platform Aspect, and augmented analytics product Lumin. Fosfor unit is headed by Satyakam Mohanty.

Interestingly, Mohanty’s deep tech startup Lymbyc was acquired by LTI in 2019 for an undisclosed amount. The company’s flagship proprietary product Leni, is a virtual analyst that allows users to conversationally access insights; it has now become a good addition to LTI’s offerings. 

In the past few years, LTI has added many features and acquired a lot of analytics-focused companies to complement its bouquet of analytics offerings. This is in line with Sanjay Jalona’s (who took over as the CEO and MD of LTI in 2015) acquisition-led growth strategy. Under Jalona’s leadership, the company acquired companies like the big data and analytics firm AugmentIQ Data Sciences and AI-data analytics firm Lymbyc. These acquisitions helped the company make successful inroads in analytics, digital, and cloud – accounting for 53 per cent of LTI’s business in 2022 in just six years.

53% is large, given very few traditional IT players in India can claim digital revenues exceeding half of their business.

LTI has recently bagged USD 40 million for an analytics-based project and partnered with the Indian government for an analytics-led transformation deal. For the latter, LTI will be involved with the transformation, collection and dissemination of data as information, case management and fraud management using artificial intelligence.

Mindtree

Mindtree’s services are complementary to that of LTI. The former offers solutions in data analytics, cloud infrastructure management, application development and maintenance. The company also made a few strategic acquisitions recently. For example, in May this year, Mindtree acquired NxT Digital Business from L&T for Rs 198 crore.

Two years back, Mindtree partnered with Databricks to help customers implement cloud-based data platforms for advanced analytics. Likewise, Mindtree has also signed deals with companies such as Microsoft, Google, ServiceNow, and AWS. Recently, the company launched Microsoft’s go-to-market business unit for cloud business and earned Azure Advanced Specialisation in Analytics, AI and ML.

What comes off this merger

L&T, which itself thwarted the attempts of its hostile takeover not once but thrice, was successful in acquiring Mindtree in a similar fashion in 2019 by taking control of 60 per cent of the company. L&T completed buying a 31 per cent stake as large investors rushed to sell their holdings after the late coffee baron VG Siddhartha sold his 20.4 per cent stake in Mindtree.

*With data from Mint and Bloomberg

While experts predicted then that LTI and Mindtree would merge after two financial years, they had also speculated a three-way merger of LTI, L&T Technology Services, and Mindtree would have helped in competing with big names like Wipro and TCS. 

However, the official statement from the representatives of the companies blatantly denied anything of that sort happening. L&T’s SN Subrahmanyan told the media that Mindtree would run as a separate entity distinct from LTI and L&T Technology Services. “The entities would be run at an arm’s length, and it is inappropriate to speculate about the future structure now. Continuity will be the key theme in the management transition. No position is sought to be disturbed at Mindtree, and no changes are contemplated right now,” he had said then. 

In the financial year 2022, Mindtree added USD 334 million, growing 31 per cent over the previous fiscal year. 

As for LTI, under Jalona’s leadership, the company doubled its revenue to USD 2.1 billion. In FY22 alone, LTI added USD 432 million in revenue, showcasing a growth of 26 per cent over the previous fiscal year.

With the merger, the two companies anticipate significant scale benefits, which would result in a stronger portfolio of offerings across verticals. “Enhanced customer engagement and delivery model through the industrialisation of delivery and streamlined value-enabling processes is expected to result in improvement in large deal capabilities. These opportunities will create a more distinctive employee value proposition and stronger partnerships with ecosystem players,” the official statement said.

That said, both the companies faced major setbacks with the departure of their top leadership. The latest is the resignation of LTI CEO and MD Jalona, often considered the key architect of its growth over the last several years, on the heels of the merger announcement. Without revealing many details, Jalona said that he is quitting due to ‘personal reasons’. For now, Debashis Chatterjee, who joined Mindtree as CEO and MD in August 2019, has been named to lead the combined entity.

The merger is seen as an opportunity to consolidate position (speculatively giving competition to giants like TCS and Wipro), especially in BFSI, scale up in high growth verticals like retail, and expand horizons to travel, transport, and hospitality domains. 

The businesses of the two companies are complementary while having minimal client overlap. LTI’s strengths lie in ERP and analytics, while Mindtree has a stronghold in digital capabilities and customer experience. The combined business will help LTIMindtree in participating in large transformation deals.

For the analytics market, in particular, things look bright for the newborn joint entity. As per an earlier market report, the data analytics market is expected to rise by USD 196.47 billion between 2021 and 2026. However, the major point of concern currently is the possibility of high attrition rates, especially in lower levels, in light of a major leadership reshuffle.

Analytics India Magazine reached out to representatives of both companies, seeking their comments on the fate of the analytics offering of the joint entity – both have denied to respond.

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