Indian IT services company HCLTech on Friday launched its artificial intelligence (AI)-based business intelligence (BI) solution, leveraging data cloud solutions from cloud computing firm Snowflake.
The new service, called HCLTech Advantage Analytics, is an AI-based analytics tool that aims to deliver enhanced customer experiences and business outcomes by integrating AI and BI to serve businesses.
According to HCLTech’s statement, “As business models evolve and datasets become increasingly complex, companies struggle to extract meaningful insights from traditional BI tools.”
However, by integrating AI into BI tools, businesses can quickly see and understand the connections between complex data structures and generate clear and useful insights from the data they analyze.
Built on a technology-agnostic platform, HCLTech Advantage Analytics seamlessly integrates with Snowflake’s data cloud to provide clients with AI-infused analytics and “enables businesses to create actionable, data-driven analytics,” according to the company. It helps us unlock insights in real time,” said Shyam Engeti. Executive Vice President of HCLTech Digital Business Services.
Thus, “we can ensure the agility of our solution and reduce the cost of ownership while significantly improving the customer experience,” he added.
Snowflake SI Sales Engineering Lead Sreedhar Bolneni said: “Snowflake’s innovative approach to analytics combined with Data Cloud will help our mutual customers revolutionize their data consumption and drive data-driven innovation and growth.”
Snowflake’s security features ensure data protection, while its fine-grained access controls facilitate efficient data access and usage management.
The company acquired search startup Neeva to accelerate searches in the data cloud through generative AI. Co-founded by Sridhar Ramaswamy and Vivek Raghunathan, Neeva leverages generative AI and other innovations to create unique and innovative search experiences that empower users to query and discover data in new ways.
Meanwhile, HCLTech, the nation’s third-largest IT services company, announced its June quarter results on Wednesday. In the first quarter of 2024, the company’s turnover stood at Rs 2,629.6 billion, up 12.1% year-on-year (YoY), while compared to the previous quarter he decreased by 1.2%. The company’s net profit increased by 7.6% year-on-year to Rs 3,534 million.
The company said it is focused on artificial intelligence (AI), especially generative AI. HCLTech reportedly has more than 70 projects in its pipeline at various stages, from proof of concept to implementation across areas such as education, applications, systems and product engineering, infrastructure and operations, and software products. The company also trains over 20,000 employees on generative AI capabilities.
