New Delhi: Leading IT solutions provider, Mphasis, has entered into a strategic collaboration agreement with Amazon Web Services (AWS) to launch Gen AI Foundry for the financial services sector. The Gen AI Foundry will serve as a dynamic platform for modeling industry use cases and developing proof of concepts (POCs). Initially targeting the financial services industry, the program has plans to expand across other sectors.
Nitin Rakesh, CEO and MD of Mphasis, described the Gen AI Foundry for financial services as a commitment to accelerating AI adoption and business modernization for clients. By leveraging the power of AWS’s generative AI and data services, Mphasis aims to set new industry benchmarks.
Mphasis emphasizes its vision to fully integrate as a trusted provider in the financial services space, offering targeted solutions to banks within the Fortune 100, as well as brokerage and insurance firms. The company plans to focus on critical industry applications such as generative AI for core platform modernization and contract management for banks.
Scott Mullins, MD & General Manager, AWS Worldwide Financial Services, praised Mphasis’ expertise in AWS services and AI/ML capabilities, highlighting their dedication to providing industry-specific solutions. He stated that this collaboration aligns perfectly with AWS’s mission to enable business transformation through cloud computing and the transformative capabilities of generative AI.
Frequently Asked Questions (FAQ)
What is Gen AI Foundry?
Gen AI Foundry is a dynamic platform developed by Mphasis in collaboration with Amazon Web Services (AWS) for modeling industry use cases and developing proof of concepts (POCs). It aims to accelerate AI adoption and business modernization for clients in the financial services sector.
What does the collaboration agreement between Mphasis and AWS entail?
The strategic collaboration agreement between Mphasis and AWS involves the launch of Gen AI Foundry for financial services. The program will leverage AWS’s generative AI and data services to set new industry benchmarks and offer targeted solutions for banks, brokerage firms, and insurance companies.
What industries will benefit from the Gen AI Foundry?
Initially, the Gen AI Foundry will focus on the financial services industry. However, there are plans to expand the program to other sectors in the future.
What specific applications will be developed through the Gen AI Foundry?
The Gen AI Foundry will prioritize critical industry applications, including generative AI for core platform modernization and contract management for banks. These applications aim to enhance efficiency and innovation within the financial services sector.
Sources:
– Mphasis: https://www.mphasis.com
– Amazon Web Services: https://aws.amazon.com
New Delhi-based IT solutions provider, Mphasis, has recently formed a strategic collaboration agreement with Amazon Web Services (AWS) to introduce Gen AI Foundry, an innovative platform specifically designed for the financial services sector. This dynamic platform will serve as a space for modeling industry-specific use cases and developing proof of concepts (POCs). While initially targeting the financial services industry, there are future plans to expand this program to other sectors as well.
The CEO and MD of Mphasis, Nitin Rakesh, has described Gen AI Foundry for financial services as a commitment made by the company to accelerate the adoption of artificial intelligence and promote business modernization for their clients. By harnessing the power of AWS’s generative AI and data services, Mphasis aims to establish new benchmarks within the industry.
Mphasis aims to fully integrate as a trusted provider within the financial services space, offering targeted solutions to a wide range of clients, from Fortune 100 banks to brokerage and insurance firms. The company’s areas of focus will revolve around critical applications such as generative AI for core platform modernization and contract management specifically designed for banks.
Scott Mullins, the MD & General Manager of AWS Worldwide Financial Services, commended Mphasis’ expertise in AWS services and AI/ML capabilities, emphasizing their commitment to providing industry-specific solutions. He also mentioned that this collaboration aligns perfectly with AWS’s mission to enable business transformation through cloud computing and the transformative capabilities of generative AI.
For more information about Mphasis and their services, please visit their website here. To learn more about Amazon Web Services and their offerings, you can visit their website here.
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