Indian IT services giant Tech Mahindra has reported a significant decline in its net profit for the third quarter of the current fiscal year. The company’s net profit stands at INR 510 crore, reflecting a stark 60.6% year-on-year (YoY) decrease. Additionally, the revenues for the same period witnessed a 4.6% YoY drop, reaching INR 13,101 crore.
The challenging quarter is attributed to a 5.4% decline in Tech Mahindra’s earnings before interest and taxes (EBIT). This downturn is primarily linked to sluggish business demand and structural challenges within its core vertical—communications. CEO Mohit Joshi acknowledged the mixed outcomes, citing growth in manufacturing and healthcare segments but subdued spending in areas like communications, BFSI, and hi-tech. Joshi emphasized the company’s internal focus on realignment and strengthening organizational foundations under the new structure.
Siemens Healthineers and IISc Collaborate on AI Lab for Precision Medicine
In a collaborative effort, Siemens Healthineers and the Indian Institute of Science (IISc) have inaugurated the Siemens Healthineers-Computational Data Sciences (CDS) Collaborative Laboratory for AI in Precision Medicine at IISc Bangalore. The lab aims to develop open-source AI tools for automating the segmentation of pathological findings in neuroimaging data. This focus includes the accurate diagnosis of neurological diseases and analyzing their clinical impact at a population level. Siemens Healthineers’ Corporate Social Responsibility initiative supports the lab, which includes six M.Tech fellowships for women to enhance female representation in artificial intelligence.
The collaborative laboratory will closely work with neurologists, radiologists, and Siemens Healthineers to integrate developed computational models into regular clinical workflows.
TCS Tops Customer Satisfaction in France: Whitelane Research
Tata Consultancy Services (TCS) has secured the top position for customer satisfaction in France, according to the 2023 French IT Sourcing Study by Whitelane Research. With an impressive satisfaction score of 84%, TCS has maintained its leadership position for the fifth consecutive year. The study, conducted in collaboration with IT consulting firm Timspirit, involved 200 business managers and customers of IT service providers, covering 600 IT outsourcing contracts and 700 cloud service contracts. TCS France’s satisfaction score is 12% higher than the sector average, with a 6% lead over the organization in the second position.
Yellow.ai Partners with Infobip for Global Synergy in Customer Service Automation
Yellow.ai, a generative AI-powered customer service automation company, has entered a strategic partnership with cloud communications platform Infobip. This collaboration aims to create global synergy by combining capabilities in voice automation, CPaaS, and generative AI solutions. The focus is on expanding market presence across North America, Europe, India, the Middle East, and Asia-Pacific markets. Yellow.ai will utilize Infobip’s platform to enhance conversational experiences through CPaaS solutions across various channels, including WhatsApp, SMS, and email. The partnership will target industries such as retail, consumer electronics, BFSI, telecommunications, utilities, and healthcare.
Infosys Unveils AI Features at Australian Open for Enhanced Fan Engagement
Infosys, a global leader in consulting and technology services, has introduced generative AI technologies at the Australian Open tennis tournament. Leveraging its AI-first set of services and Infosys Topaz, the company aims to enhance the fan experience, player performance analysis, and digital content creation. New AI features include fans testing predictions against AI, visual cards of matches, and augmented reality selfies of players. Beyond the court, Infosys and Tennis Australia are collaborating on AI-enabled digital skilling for year 10 and 11 students, providing access to curated learning powered by Infosys Springboard. Students will also get a glimpse of the generative AI future by visiting the Infosys Fan Zone.
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