Cognizant unveils Advanced AI Lab to spearhead AI innovation and research

TAGS

Cognizant (Nasdaq: CTSH), a global technology leader, announced the establishment of its Advanced Artificial Intelligence (AI) Lab in San Francisco. This state-of-the-art facility is dedicated to advancing AI science and developing AI-enablement technologies and intellectual property. With a significant investment, Cognizant aims to push the boundaries of AI research and application, leveraging a team of renowned researchers, developers, AI pioneers, and PhDs. The lab’s collaboration with research institutions, customers, and startups is bolstered by its portfolio of 75 issued and pending patents, laying a solid foundation for pioneering AI solutions. This initiative aligns with Cognizant’s commitment to invest $1 billion in generative AI over the next three years, reflecting the company’s strategic direction towards becoming an AI-first entity.

See also  Sonata Software announces integration with Microsoft Azure AI to accelerate responsible AI adoption

The launch of the Advanced AI Lab comes at a pivotal time for enterprises grappling with AI’s evolving landscape. Research indicates a notable dissatisfaction among executives regarding their companies’ AI progress, with 66% expressing ambivalence or dissatisfaction. Despite this, an overwhelming majority (85%) plan to increase their AI and generative AI spending in 2024. Cognizant, in partnership with Oxford Economics, also forecasts that generative AI could contribute up to $1 trillion to the U.S. economy by 2032.

Cognizant CEO Ravi Kumar S. emphasizes the company’s commitment to AI innovation through strategic partnerships, training programs, and platform investments. The Advanced AI Lab represents a significant step forward in this commitment, focusing on core AI research to meet the diverse AI needs of businesses and industries comprehensively.

See also  Cognizant and Fortrea partner for technology transformation in life sciences

The lab will exploit Large Language Models (LLMs) to create decision-making AI systems capable of enhancing business outcomes across various domains. This goes beyond simple prompt engineering to develop AI applications that support strategic decisions and improve enterprise operations and individual productivity.

Dr. Manish Saggar of Stanford University School of Medicine highlights the lab’s role as a key research partner. Collaborations have already yielded promising results, particularly in simulating brain dynamics for mental health interventions. Cognizant’s lab focuses on innovating AI solutions for business productivity, decision-making, and AI-for-good projects while evangelizing generative AI-enabled solutions globally.

See also  Google parent Alphabet Inc. announces 15% increase in Q1 2024 revenues

The lab is led by AI entrepreneur Babak Hodjat, with research activities supervised by AI Professor Risto Miikkulainen from the University of Texas at Austin. Their achievements include significant academic contributions and recognition for impactful research, such as the Best Pathway to Impact Award at the NeurIPS 2023 Climate Change Workshop.

Cognizant extends its AI support through AI Innovation Studios located in major cities worldwide. These studios serve as hubs for inspiration and co-innovation, facilitating collaboration on new AI-driven business solutions.

CATEGORIES
TAGS
Share This