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Cognizant, Microsoft Forge AI Partnership

Cognizant said that it will work to deploy Microsoft 365 Copilot to a million users within their global 2,000 clients and across 11 industries….reports Asian Lite News

Cognizant and Microsoft on Monday announced an expanded partnership with the aim of making the tech giant’s generative AI (GenAI) and Copilots available to millions of users to transform enterprise business operations, enhance employee experiences, and accelerate cross-industry innovation.

As part of this collaboration, Cognizant purchased 25,000 Microsoft 365 Copilot seats for its associates, along with 500 Sales Copilot seats and 500 Services Copilot seats to improve productivity, streamline workflows and transform customer experiences.

“Generative AI can be a game-changer for virtually every business in every industry, opening up new possibilities for innovation, efficiency and growth,” Ravi Kumar S., CEO, Cognizant, said in a statement.

“That’s why we are investing $1 billion in GenAI over the next three years and leading the development of new research to explore its potential for our clients, their employees and end customers,” he added.

In addition, Cognizant said that it will work to deploy Microsoft 365 Copilot to a million users within their global 2,000 clients and across 11 industries.

“By combining Cognizant’s industry expertise with Microsoft’s Copilot capabilities, including Copilot for Microsoft 365 and GitHub Copilot — we will help drive AI adoption and innovation for millions of users across its network,” said Judson Althoff, executive VP and chief commercial officer at Microsoft.

According to the company, this partnership has the potential to significantly accelerate AI adoption and innovation in India.

AI is expected to add $450 to $500 billion to India’s GDP by 2025, accounting for 10 per cent of the country’s $5 trillion GDP target, the company mentioned.

Meanwhile, Microsoft on Tuesday announced a $1.5 billion investment in the UAE-based artificial intelligence (AI) technology company, G42.

Both companies will also support the establishment of a $1 billion fund for developers.

The investment will strengthen collaboration on bringing the latest Microsoft AI technologies and skilling initiatives to the UAE and other countries around the world.

As part of this partnership, Brad Smith, Vice Chair and President of Microsoft, will join the G42 Board of Directors, the companies said in a statement.

“This partnership is a testament to the shared values and aspirations for progress, fostering greater cooperation and synergy globally,” said H.H. Sheikh Tahnoon bin Zayed Al Nahyan, Chairman of G42.

G42 and Microsoft will also work together to bring advanced AI and digital infrastructure to countries in the Middle East, Central Asia, and Africa.

“We will work together not only in the UAE, but to bring AI and digital infrastructure and services to underserved nations,” said Smith.

“We will combine world-class technology with world-leading standards for safe, trusted, and responsible AI, in close coordination with the governments of both the UAE and the US,” he added.

ALSO READ: India’s Growing Role in Generative AI Adoption

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Cognizant braces for massive layoffs

Cognizant launches vax drive for 6.5 lakh strong ecosystem in India.

IT giant will also reduce its real estate costs by “eliminating 80,000 seats and 11 million square feet in large cities in India”….reports Asian Lite News

IT major Cognizant on Thursday said it will lay off 3,500 employees, or approximately 1 per cent of its workforce (mainly non-billable), as it sees revenues slowing down in 2023.

The company will also reduce its real estate costs by “eliminating 80,000 seats and 11 million square feet in large cities in India”.

Cognizant has initiated a ‘NextGen’ programme aimed at simplifying its operating model, optimising corporate functions and consolidating and realigning office space to reflect the post-pandemic hybrid work environment.

“We expect the personnel-related actions of this programme to impact approximately 3,500 employees or approximately 1 per cent of our workforce,” the company said in a statement.

“Our drive for simplification will include operating with fewer layers in an effort to enhance agility and enable faster decision-making. The company expects savings generated by the program to help fund continued investments in people, revenue growth opportunities, and the modernisation of office space,” the company added.

The total employee headcount at the end of the first quarter was 3,51,500, a decrease of 3,800 from the previous quarter 2022 and an increase of 11,100 from Q1 2022, according to the company.

Cognizant reported a 3 per cent (year-on-year) rise in its net profit to $580 million in the March quarter of FY23.

The company reported revenue of $4.8 billion, which declined 0.3 per cent year-over-year, in Q1 2023.

“Our accelerated bookings growth in the quarter, which included several large deals and a healthy mix of new and expansion work, reflects the strengths of our services, our brand, and the longstanding relationships we have with our clients. I am also encouraged by the continuing reduction in our voluntary attrition,” said Ravi Kumar.

Under the ‘NextGen’ programme, Cognizant expects to record costs of approximately $400 million with approximately $350 million of such costs anticipated in 2023 and approximately $50 million in 2024.

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Cognizant, Microsoft expand tie up for healthcare

Cognizant launches vax drive for 6.5 lakh strong ecosystem in India.

The companies will build an integration roadmap between Cognizant’s TriZetto healthcare products with Microsoft Cloud for Healthcare…reports Asian Lite News

IT major Cognizant on Saturday announced to expand healthcare collaboration with tech giant Microsoft to bring Cloud-based technology solutions to the growing healthcare market.

The companies will build an integration roadmap between Cognizant’s TriZetto healthcare products with Microsoft Cloud for Healthcare.

“Through our strategic partnership with Microsoft and building on our advanced TriZetto healthcare solutions, we are empowering clients to adapt to shifting market trends, regulatory changes, and operational demands,” said Surya Gummadi, EVP and President, Cognizant Americas.

The companies will also collaborate to develop and run Cognizant’s current and future healthcare SaaS solutions on Microsoft Azure, migrate new and existing clients from on premises environments to streamlined functions managed on the Microsoft Cloud, and support future technologies.

“TriZetto customers can harness the innovative features and capabilities across the entire Microsoft Cloud, empowering them to unlock growth, tap into new revenue streams, and transition their existing services to the cloud,” said Tom McGuinness, Corporate Vice President, Global Healthcare & Life Sciences, Microsoft.

TriZetto offers a portfolio of software solutions that help organisations enhance revenue growth, drive administrative efficiency, improve cost and quality of care, and improve the member and patient experience.

Microsoft Cloud for Healthcare brings together capabilities for customers and partners to enrich patient engagement, connect caregiving teams, and improve collaboration, decision-making and operational efficiencies.

Meanwhile, the Public Cloud services market in the Asia-Pacific region is likely to reach $153.6 billion in 2026, a report has shown.

IDC expects the Asia/Pacific excluding Japan (APeJ) Public Cloud market will grow at a year-over-year (YoY) rate in 2022 at 25.9 per cent in comparison to 36.3 per cent in 2021, as cloud migration continues to accelerate.

However, the YoY growth rates will slow down, beginning from 2023 with a YoY growth of 24.1 per cent, to 21.4 per cent in 2026.

“Organisations in the APeJ region are progressing their cloud adoption along the advancements offered by the cloud market segment. Organisations will continue to invest in these adjacent technologies to enhance their customer experience and business outcomes,” said Shahnawas Latiff, Research Manager, Cloud Services, IDC Asia/Pacific.

A visitor poses for a photo with Microsoft’s logo at Microsoft’s corporate headquarters in Redmond, Washington State, the United States, Sept. 19, 2015. (Xinhua/Yang Lei/IANS)

Infrastructure as a service (IaaS) will achieve a market value of $65.6 billion and make up 42.7 per cent of the Asia/Pacific Public Cloud services market in 2026.

Platform as a service (PaaS) will reach a market value of $29.8 billion, contributing to 19.4 per cent of the market.

Software as a service (SaaS) will grow almost more than double from $22.9 billion in 2021 to $58.1 billion in 2026, contributing to 37.8 per cent of the entire Asia/Pacific Public Cloud market market, said the report.

“SaaS growth is attributed to organisations who want to streamline their operations and process by transforming their applications into scalable modules,” it added.

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