Tech Mahindra net profit declines by 61% in Q3
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Tech Mahindra's net profit down 61% in Q3
Indian IT services company Tech Mahindra reported a net profit of Rs 510 crore for the third quarter of the current fiscal year, which was 60.6% year-on-year (YoY) decline. The revenues during this period were down 4.6% on a YoY basis to touch Rs 13,101 crore.
The company’s earnings before interest and taxes (EBIT) was 5.4% as it was severely impacted by the slowness in business demand and due to structural challenges from its core vertical—communications.
Commenting on the results, Tech Mahindra CEO Mohit Joshi said, “The quarter was a mixed outcome with growth in the manufacturing and healthcare segments but muted spending in areas like communications, BFSI and hi-tech. While this dichotomy in the markets will take its own time to settle, we are focusing internally on realigning under the new structure and strengthening the foundations of our organisation.”
Siemens Healthineers, IISC open AI lab for precision medicine
Siemens Healthineers and the Indian Institute of Science (IISc) inaugurated the Siemens Healthineers-Computational Data Sciences (CDS) Collaborative Laboratory for AI in Precision Medicine at IISc Bangalore.
The CDS collaborative laboratory will develop open-source AI-based tools to precisely automate the segmentation of pathological findings in neuroimaging data, with a focus on accurately diagnosing neurological diseases and analysing their clinical impact at a population level.
The laboratory has been established with the support of Siemens Healthineers Corporate Social Responsibility initiative, which also includes six M.Tech fellowships for women, aiming to enhance female representation in artificial intelligence.
The focus of this collaborative laboratory will be to work closely with neurologists, radiologists and Siemens Healthineers and integrate the developed computational models into their regular clinical workflows.
TCS gets top ranking for customer satisfaction in France
Tata Consultancy Services (TCS) has emerged as a leader in customer satisfaction in France by ranking first in the 2023 French IT Sourcing Study by global think-tank Whitelane Research. With a satisfaction score of 84%, TCS retained its position at the top for the fifth consecutive year.
Whitelane Research is an independent organisation that conducts research into information technology procurement policies in Europe and organises events across the continent. The 2023 French IT Sourcing Study, conducted in collaboration with IT consulting firm Timspirit, is the largest independent survey carried out in France among 200 business managers and customers of IT service providers. It covers 600 IT outsourcing contracts and 700 cloud service contracts.
TCS France consolidated its leadership with a score that is 12% higher than the average of companies in the sector and a lead of 6% compared to the organization that ranked second. The general satisfaction score is also up 3%, a significant jump from last year’s performance.
Yellow.ai partners with Infobip
, a generative AI-powered customer service automation company, has partnered with the cloud communications platform Infobip. The collaboration aims to establish a global synergy by leveraging combined capabilities in voice automation, CPaaS, and generative AI solutions, intending to expand market presence across North America, Europe, India, the Middle East, and Asia-Pacific markets.
By integrating proficiencies, Yellow.ai and Infobip will engage in building an end-to-end voice solution to address the increasing demand for humanised and personalised voice conversations. As part of the partnership, Yellow.ai will power its CPaaS solutions across channels such as WhatsApp, SMS, and email through Infobip’s platform for better conversational experiences.
Additionally, the focus will revolve around harnessing Yellow.ai's new generative AI capabilities. The partnership will target industries including retail and consumer electronics, BFSI, telecommunications, utilities, and healthcare.
Infosys unveils new AI features at Australian Open
has introduced generative AI technologies for fan engagement, player performance, and digital content creation at the ongoing Australian Open (AO) tennis tournament. Infosys is leveraging its AI-first set of services and solutions with Infosys Topaz to evolve the AO experience. Infosys Topaz is delivering the large language models and cognitive core to accelerate Tennis Australia’s AI journey.
Among the new AI features that Infosys has introduced at the Australian Open include fans testing their predictions against AI, creation of visual cards of matches, augmented reality selfies of players etc.
Off the court, Infosys and Tennis Australia are also collaborating for AI-enabled digital skilling, by giving year 10 and 11 students from metropolitan Melbourne, regional Victoria and New South Wales access to curated learning powered by Infosys Springboard. The students will also get a glimpse of a generative AI future by visiting the Infosys Fan Zone.
Edited by Kanishk Singh