IT company Persistent Systems has started registering deal wins in the GenAI space, the company said. Multiple proofs of concepts have been progressing to scale with AI opening up significant opportunities in the product engineering and enterprise software segments, it said.
Persistent has been looking at delivery productivity gains to customers using AI and automation tools. The company has also developed an Enterprise AI platform, SASVA, which leverages AI to address challenges in the software development process.
The early deals include work for a listed insurance distribution and advisory company in the US to improve customer experience and end-to-end processing for rapid expansion of the company’s business. For banking, financial services and insurance customers, Persistent is accelerating digital transformation and automation as well as engineering a GenAI platform. It is developing AI/ML applications for a leading consumer intelligence company. It has signed a deal with a software company to speed up product releases while maintaining quality and security. In the healthcare and life sciences business segment, they were working in the areas of research with pharma companies, radiology service providers and healthcare companies.
Sandeep Kalra, CEO, Persistent Systems, said Persistent had a long history with AI going beyond the current buzzword of GenAI. The company was making a lot of investments in AI capability, Kalra said during an earnings call.
This included opening customer experience studios in the US, UK and India. Kalra said the company had trained 16,000 developers and engineers on AI, ML and GenAI tools such as Code Assist, Code Whisperer, Q and GitHub.
Persistent recently inaugurated its Customer Experience Center and Generative AI Studio at its office in Pune.
Most enterprise software was complex as it comprises third-party software solutions, customised kernels and interdependent repositories, Kalra said. They would be using the SASVA IP to address these problems and also deal with the high costs associated with GenAI.
SASVA has reduced product release times by 25-35% with improved quality and a reduction in technical debt in initial engagements. SASVA offers customers a platform that accelerates time to market, mitigates risks and helps navigate the product and engineering complexity.
Although it has not started to contribute to revenue in a big way, it would lead to more deals in the Gen AI space in FY25, Sunil Sapre, executive director and CFO, Persistent Systems said. This was being viewed as a market opportunity with the company getting good visibility of the business compared to a few quarters ago.
