The new AI-based platform aims to speed up digital transformation for enterprises
Genpact has unveiled Genpact Cora – an artificial intelligence (AI)-based platform that drives digital transformation for enterprises. Genpact Cora is a modular, interconnected mesh of flexible digital technologies that hones in on specific operational business challenges and tackles them from beginning to end, helping large global companies reframe and solve their most pressing real world business issues.
“In an environment being disrupted by new technologies and increasing competition, clients want to buy business outcomes, not just tools and products,” said Peter Bendor-Samuel, founder and chief executive officer, Everest Group, a leading analyst firm. “Genpact Cora is timely for an industry seeking digital transformation.”
As part of its ongoing strategy to drive digital-led innovation and digitally-enabled intelligent operations for clients around the world, Genpact has created Genpact Cora to provide the fastest path to driving meaningful transformation at scale. As per Genpact, it is the first in the industry to fully integrate automation, analytics, and AI engines – in a single, unified platform, embedded with and drawing insights from Genpact’s deep domain expertise that comes from running thousands of intelligent operations and processes for hundreds of Fortune 500 companies across numerous industries. Genpact Cora drives digital transformation in a planned and managed fashion, without sacrificing the governance security and investment protection that mature and established businesses need.
“Achieving enterprise impact from digital transformation is challenging with so many disparate, disconnected technologies in the market,” said NV ‘Tiger’ Tyagarajan, president and chief executive officer, Genpact. “Genpact Cora brings leading digital solutions together in one unified platform, combined with the process and deep domain expertise that comes from decades of experience running intelligent operations. The combined benefit creates connected intelligence for our clients at a previously unattainable level of agility and speed to predictive insight, that then drives outcomes.”
Genpact Cora has a mature application program interface (API) design and open architecture that includes Genpact’s own intellectual property as well as leveraging best-in-class providers, integrating advanced technologies across three key areas:
- Digital Core: cloud, software-as-a-service, blockchain, mobility and ambient computing, robotic process automation, and dynamic workflow;
- Data Analytics: advanced visualization, data engineering, big data, and Internet of Things (IoT);
- Artificial Intelligence: conversational AI, computational linguistics, computer vision, machine learning and data science AI.
The Genpact Cora platform is the foundation for Genpact products and consulting services already in the market, with more than 1 million users processing over 1.1 billion transactions annually, providing unparalleled practical predictive insights and learnings on how to make transformation real and sustainable. It brings together Genpact’s original process and industry domain depth with new digital capabilities through its recent acquisitions of Rage Frameworks, PNMsoft, and others.
The platform already delivers speed to value in the market today in many industries, including:
- Deciphering data from equipment: A leading large equipment manufacturer leverages industrial IoT, machine learning, and advanced analytics from Genpact Cora to efficiently and intelligently process data, resulting in safer materials, less downtime, higher revenues, and lower maintenance costs.
- Reframing drug safety: A top pharmaceutical company is testing Genpact’s Pharmacovigilance Artificial Intelligence (PVAI) product to redefine drug safety. PVAI uses Genpact Cora’s AI, analytics, predictive modeling, and other technologies to automatically collect and analyze data from numerous sources on drugs’ adverse effects, including quickly translating unstructured data into meaningful, actionable insights. PVAI transforms drug safety operations from simply tracking issues to predicting and solving potential problems, with less human error, higher drug quality, better patient outcomes, and 100 percent regulatory compliance.
- Making customer service seamless: Genpact Cora’s AI and analytics powers Genpact’s LiveWealth product and allows a Fortune 500 financial services institution to speed customer response time, eliminate billing and asset reporting errors for institutional and high-net-worth individuals, and help shorten client cycle time from 45 days to on-demand. Customers now have a holistic view of their portfolio, and the company also cut costs 75% while facilitating effective regulatory compliance.
- Driving faster, value-added financial reporting: Inefficient manual financial reporting processes took many employees at a global consumer packaged goods company weeks to interpret both structured and unstructured data from various internal and external systems. Genpact’s AI Reporting product using Genpact Cora’s robotic process automation now generates these reports in a few days, automating 70% of data collection. In addition, the AI learns over time, allowing the company to have much faster, more accurate, and more frequent projections that drive better informed business decisions.
- Increasing new product speed to market: A global insurance provider uses Genpact Cora’s dynamic workflow to streamline new product rollouts by quickly capturing data on high-value customers, increasing processing speed and flexibility, and driving analytics real time for decision making – thereby increasing speed to market and driving revenue growth.
“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. “And Genpact Cora reduces risks around errant robots and misapplied AI spinning out of control, through an integrated command and control hub that delivers the much-needed governance that business processes require.”