Chennai: American software engineering company Ascendion has decided to boost its workforce and train them in artificial intelligence, placing high hopes on AI adoption and cost rationalization. The company opened a GenAI studio in the city to present its tools and applications to customers. Speaking to the press, the company’s CEO Karthik Krishnamurthy said that the company is winning fresh contracts for artificial intelligence and intends to generate at least 50% of its revenue from this technology. He said the IT market is tough as companies rethink their spending, but technology budgets will be increased and balanced in the way AI tools and platforms empower people. “Customers are trying to figure out what is the best way to utilize their dollars,” he said, adding that more and more such deals are eating into customary technology services players. Karthik Krishnamurthy said Ascendion builds commercial models based on its AI offerings, referring to its software automation tool. “Many companies didn’t know how to commercialize these services,” he said. Prakash Balasubramanian, executive vice president, said: “While the cost per labor quantum is falling, the net fresh (project) number has increased.” Plans Ascendion will employ over 300 graduates this year and plans to train current and fresh employees in the dual model of AI consumption and production, i.e. the effective utilize of AI tools and the creation of cutting-edge AI tools. “Most of the world will be consumers of artificial intelligence, so it is significant that we train employees how to utilize these tools effectively. The training will cover coding, system analysis, communication and AI tools,” he added. A company where 30% of key AI talent, such as machine learning engineers and data engineers, work outside the city.
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