Mphasis and AWS Partner To Unveil AI Foundry For Financial Services By CIOTechOutlook Team

Mphasis and AWS Partner To Unveil AI Foundry For Financial Services

CIOTechOutlook Team | Monday, 15 April 2024, 10:52 IST

Mphasis, an information technology services firm, declared a long-term worldwide contract with Amazon Web Services (AWS). The alliance denotes a critical achievement as Mphasis lays out the Gen AI Foundry, driven by Mphasis.AI, a devoted specialty unit concentrating on artificial intelligence (AI) solutions, AI use case evaluations, consulting, and transformation.

The GenAI Foundry will act as a powerful stage for displaying industry use cases and creating proof of concepts (POCs) — initially inside the financial services Industry, with proposals to grow across different areas. This virtual gathering will offer clients the chance to encounter demos and POCs either at the Mphasis Experience Center in New York City or the AWS Executive Briefing Center (EBC), giving a feature of generative artificial intelligence solutions custom-fitted to the client's necessities and targets.

With the increasing use of generative AI as an incredible asset, the Foundry is devoted to working with its reception in monetary administration firms, supporting speeding up efficiencies and encouraging business change. Solutions, for example, Intelligent Document Processing (IDP) robotize information extraction and investigation, limiting mistakes and smoothing out work processes, prompting significant time and cost reserve funds.

"Our collaboration with AWS marks a significant leap forward in Mphasis's journey towards delivering cutting-edge solutions in the area of cloud and cognitive services. The Gen AI Foundry for Financial Services, led by Mphasis.AI, is our commitment to accelerating AI adoption and business modernization for our clients. By harnessing the power of AWS's generative AI and data services, we are poised to set new benchmarks in the financial services industry. This initiative reinforces our vision to be the driver of innovation for global enterprises, providing scalable and sustainable technology solutions," said Nitin Rakesh, Chief Executive Officer, and Managing Director of Mphasis.