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Genpact Cora to Enhance Enterprises' Digital Capabilities

Genpact Limited G recently announced the launch of its artificial intelligence (AI) - based platform called Genpact Cora to help improve digital capabilities of enterprises. The platform is an interconnected network of different digital technologies that help companies to tackle business issues.

"Genpact Cora allows our clients to deploy leading digital technologies using a modular and scalable platform built on an open architecture that drives flexibility, agility, and long-term investment protection," said Sanjay Srivastava, senior vice president and chief digital officer, Genpact.

Genpact Cora integrates technologies across three key segments namely, Digital Core, Data Analytics and AI. While Digital Core covers Blockchain and cloud technologies among others, Data Analytics will cover Big Data and Internet of Things (IoT). Machine learning and Data Science will be taken care of by the Artificial Intelligence segment. Reportedly, this is the first-of- its-kind integrated platform and is expected to provide Genpact an edge over others.

We note that Genpact has outperformed the Zacks Outsourcing Market on a year-to-date basis. While the industry lost 3.9%, the stock returned 16.2% over the same time frame.

Will AI Move the Needle for Genpact?

Artificial intelligence technologies which include machine learning, natural language processing, and data analysis among others, have been gaining momentum in almost all industries worldwide. Per Tractica, AI application revenues will increase from $358 million in 2016 to $31.2 billion by 2025, representing compound annual growth rate (CAGR) of 64.3%.

Hence, there is significant opportunity for the deployment of AI at enterprises. We believe that Genpact is well positioned to grab this opportunity. The company also announced the acquisition of Rage Frameworks, a provider of AI services on knowledge-based automation technology, in March. The acquisition will meaningfully contribute to Genpact’s portfolio, which already includes robotic automation and machine learning.

Rage Frameworks recently published a research report based on survey information from a few senior level business executives. While 82% of the participants stated that their organization will be using AI technologies in 2017, 11% said they would think of starting to use AI. Only 7% of the respondents were negative on adopting the technologies.

We believe artificial intelligence will provide the company a competitive edge against its peers such as Accenture ACN, Cognizant Technology Solutions Corporation CTSH and International Business Machines Corp.IBM.

Zacks Rank

Genpact currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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