CHENNAI: American software engineering company Ascendion has decided to raise its workforce and train them in artificial intelligence, placing high hopes on AI adoption and cost rationalization.
The company has opened a GenAI studio in Chennai to showcase its tools and applications to customers.
Speaking to the press, Ascendion CEO Karthik Krishnamurthy said the company is winning fresh AI contracts and intends to generate at least 50% of its revenue from the technology. He said the IT market is challenging as companies rethink their spending, but technology budgets will be increased and rebalanced in the way AI tools and platforms empower people.
“Customers are trying to figure out how to best invest their money,” he said, adding that more and more such deals are eating away at players in the time-honored technology services industry.
Karthik Krishnamurthy said Ascendion builds commercial models based on its AI offerings, referring to its software automation tool. “Many companies haven’t figured out how to commercialize these services,” he said.
Prakash Balasubramanian, executive vice president, said, “While the cost per labor quantum is dwindling, net fresh (projects) have increased.”
Ascendion plans to hire over 300 graduates this year. It plans to train current and fresh employees in the dual model of artificial intelligence exploit and production – capable exploit of artificial intelligence tools and creation of cutting-edge artificial intelligence tools.
“Most of the world will be consumers of artificial intelligence, so it is essential that we train employees how to exploit these tools effectively. The training will cover coding, system analysis, communication and AI tools,” he added.
30% of the company’s core AI talent such as machine learning and data engineers are based in Chennai.
The company has opened a GenAI studio in Chennai to showcase its tools and applications to customers.
Speaking to the press, Ascendion CEO Karthik Krishnamurthy said the company is winning fresh AI contracts and intends to generate at least 50% of its revenue from the technology. He said the IT market is challenging as companies rethink their spending, but technology budgets will be increased and rebalanced in the way AI tools and platforms empower people.
“Customers are trying to figure out how to best invest their money,” he said, adding that more and more such deals are eating away at players in the time-honored technology services industry.
Karthik Krishnamurthy said Ascendion builds commercial models based on its AI offerings, referring to its software automation tool. “Many companies haven’t figured out how to commercialize these services,” he said.
Prakash Balasubramanian, executive vice president, said, “While the cost per labor quantum is dwindling, net fresh (projects) have increased.”
Ascendion plans to hire over 300 graduates this year. It plans to train current and fresh employees in the dual model of artificial intelligence exploit and production – capable exploit of artificial intelligence tools and creation of cutting-edge artificial intelligence tools.
“Most of the world will be consumers of artificial intelligence, so it is essential that we train employees how to exploit these tools effectively. The training will cover coding, system analysis, communication and AI tools,” he added.
30% of the company’s core AI talent such as machine learning and data engineers are based in Chennai.
