Cognizant Technology to invest $1 billion in Gen AI over three years

Cognizant Technology Solutions will invest $1 billion in generative artificial intelligence (GenAI) over three years, covering platform, personnel, partnerships, information technology (IT), and mergers and acquisitions, according to Chief Executive Officer Ravi Kumar S.

“We expect Cognizant to be a principal beneficiary of the GenAI opportunity, with over 100 active AI engagements and hundreds more projects utilising our AI services,” Kumar said in an after-earnings call.

As part of its AI efforts, Cognizant launched its Neuro AI platform in May this year, aimed at helping enterprises adopt GenAI technology and harness its business value.