🚀 Discover how Genpact is leveraging GenAI to enhance customer support and improve internal workflows, driving significant productivity gains! 💼✨
genpact limited (G)
Earnings transcript2024 - Q3
Use of GenAI in Customer Support, internal workflow optimization using AI, application of Artificial Intelligence in Enterprises and internal productivity of employees
GENPACT LTD
Use of GenAI in Customer Support and Internal Workflow Optimization
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AI Solutions for Business Outcomes:
- Genpact focuses on transforming innovation into business outcomes, with examples including:
- Mondelez International: Implementation of the Genpact CFO Action Hub, which offers predictive insights and enhances customer experience through AI solutions.
- Penske Transportation Solutions: Utilization of AI for demand planning and forecasting, improving logistics efficiency.
- Genpact focuses on transforming innovation into business outcomes, with examples including:
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AI-Powered Agents:
- Introduction of Scout, AI agents available to all employees for tasks such as document summarization and translation.
- Over 20 agents currently deployed, alongside additional custom solutions for complex functions like HR and IT.
AI Applications in Enterprises
- Integrated Solutions:
- Genpact's proprietary solutions are built on platforms like Google Gemini Pro and Amazon Bedrock, enhancing finance operations and claim processing for clients like Liberty Mutual Insurance.
- Finance Data Hub, powered by Databricks, allows CFOs faster access to accurate data, improving operational efficiency.
Internal Productivity and Employee Optimization
- Automation and Efficiency:
- The AI solution for accounts payable significantly increases automation, leading to improved productivity relative to traditional methods.
- Efforts to simplify the cash-to-collection process contribute to quicker billing times and better cash flow management.
Growth and Market Position
- Revenue Growth Outlook:
- Genpact expects to achieve 6% revenue growth in 2024, with a strategic focus on enhancing solutions that leverage GenAI.
- Total addressable market for these services is expanding due to the holistic approach involving AI, data, and advanced technologies, suggesting a more significant opportunity for future growth and client engagement.
Conclusion
- Genpact is strategically expanding its use of AI and GenAI solutions not only to enhance client operations but also to optimize internal workflows, ultimately leading to improved productivity and efficiency in enterprise environments. The ongoing evolution of AI applications within the company signals a robust commitment to innovation and transformative value delivery for clients.
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