As part of its efforts to leverage generative artificial intelligence (AI) for creative problem-solving and process optimization, Indian IT services firm Coforge has joined forces with Microsoft Azure OpenAI Service. The collaboration aims to enable enterprises to embrace the potential of AI across various aspects of their operations.
Under the partnership, Coforge will provide specialized workshops, training sessions, and resources to help businesses understand the benefits of generative AI and successfully implement it in their operations. The company will also roll out its Gen AI solutions on the Azure Marketplace, empowering enterprises with comprehensive APIs for integration.
Coforge’s collaboration with Microsoft marks a significant milestone in its journey to transform enterprise possibilities. The partnership will enhance decision-making with data-driven insights, streamline operations, elevate customer interactions, and accelerate digital transformation efforts for businesses.
In addition to its collaboration with Microsoft, Coforge recently launched its Gen AI platform called Coforge Quasar, which aims to build enterprise AI capabilities. The platform comes pre-loaded with a comprehensive set of APIs for easy integration. The company also introduced Quasar Responsible AI, a solution designed to ensure ethical, fair, transparent, and regulatory-compliant AI-based offerings.
Regarding its financial performance, Coforge reported a 10% drop in consolidated net profit in the second quarter ending September 2023, amounting to Rs 181 crore compared to Rs 201 crore in the same period last year. However, the company’s total revenue increased by 16% to Rs 2,276 crore from Rs 1,959 crore in the year-ago period. Sequentially, the net profit remained relatively stable with a 2.5% increase, while revenue growth stood at 9.6%.
The partnership between Coforge and Microsoft Azure OpenAI Service highlights the growing importance of generative AI in transforming business operations. By leveraging AI’s potential for growth and efficiency, enterprises can stay at the forefront of digital transformation and drive innovation in their respective industries. Coforge’s commitment to delivering innovative solutions positions it as a key player in enabling businesses to embrace AI-driven transformation.
