Global Tech Firm Expands AI Capabilities Through Partnership With Google Cloud
The company has experienced a 1-year return of negative 8 per cent and a 3-year return of negative 30 per cent.
LTI Mindtree Limited, a global technology consulting and digital solutions company, has announced a strategic partnership with Google Cloud to drive business transformation using Agentic AI. This collaboration aims to leverage Google Cloud's advanced AI platforms, including Vertex AI, to develop industry-specific solutions that accelerate the adoption of Generative AI across various sectors such as BFSI, Manufacturing, Hi-Tech Media and Entertainment, Retail, and CPG. The partnership will enable LTIMindtree to create innovative solutions, design cutting-edge proof of concepts, and deliver market-leading solutions that maximize ROI from cloud investments.
LTI Mindtree will also set up a dedicated team of professionals with expertise in Google Cloud technologies to support this initiative. The collaboration is expected to enhance customer satisfaction by providing rapid deployment of services and comprehensive support. Nachiket Deshpande, President - Global AI Services at LTIMindtree, stated, "Our partnership with Google Cloud marks a significant milestone in our journey towards innovation and growth. By combining our strengths, we are poised to deliver unparalleled value to our customers and drive transformative change in the cloud ecosystem." Kevin Ichhpurani, President, Global Partner Organization at Google Cloud, added, "Generative AI has the power to increase business efficiencies and transform how organizations operate."
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LTI Mindtree Limited, a prominent IT services provider, offers a comprehensive range of services including application development, maintenance, enterprise solutions, infrastructure management, and digital solutions. The company has a strong presence in over 30 countries and serves more than 700 clients globally. In H1FY24, the company's revenue was primarily driven by the Banking, Finance Services & Insurance sector, contributing 36.5 per cent, followed by Hi-Tech, Media & Entertainment at 23.8 per cent.
North America remains the largest market, accounting for 73.4 per cent of the revenue. The company has a strategic focus on expanding its cloud infrastructure and AI capabilities, as evidenced by its recent merger with Mindtree and strategic alliances with tech giants like Microsoft, SAP, and Google. With a workforce of approximately 83,000 employees, LTIMindtree continues to innovate and expand its service offerings to maintain its competitive edge in the global market. LTIMindtree's market capitalization is over Rs 1.3 lakh crore. The company has experienced a 1-year return of negative 8 per cent and a 3-year return of negative 30 per cent. The Price-Earnings (PE) Ratio is 29.1.
Disclaimer: The article is for informational purposes only and not investment advice.