Press release
Cognizant Unveils Advanced Artificial Intelligence Lab to Accelerate AI Research and Innovation
With 75 issued and pending patents, the lab will launch with a team of dedicated AI researchers and developers; focus will be on research, innovation and
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[{"type":"text","content":"With 75 issued and pending patents, the lab will launch with a team of dedicated AI researchers and developers; focus will be on research, innovation and production of cutting-edge AI systems\nTEANECK, N.J., March 7, 2024 /PRNewswire/ -- Cognizant (Nasdaq: CTSH), a leading global technology company, today announced the launch of an Advanced Artificial Intelligence (AI) Lab. The lab, based in San Francisco, will focus on advancing the science and practice of AI through innovation and development of intellectual property and AI-enablement technologies. Staffed by a team of researchers and developers, including AI pioneers and PhDs, the lab will collaborate with research institutions, customers, and startups and already has 75 issued and pending patents that provide a differentiated foundation on which to build cutting edge AI solutions. The lab is part of the commitment Cognizant announced last year to invest $1 billion in generative AI (gen AI) over the next three years.\n\n \n \n \n \n \n \n\n \nThe launch of Cognizant's Advanced AI Lab comes at a time when enterprises are rapidly working to understand the impact of AI and meet expanding expectations around its promise. Recent research has shown more than half (66 percent) of executives are ambivalent or dissatisfied with their company's progress on AI and gen AI, and most executives (85 percent) plan to increase spending on AI and gen AI in 2024. Longer term, Cognizant and Oxford Economics' recent study found gen AI could inject up to $1 trillion to the U.S. economy by 2032.\n\"As AI rapidly evolves into mainstream use, Cognizant is continually pushing boundaries through strategic partnerships, training programs and platform investments to be an AI-first company,\" said Cognizant CEO Ravi Kumar S. \"With the launch of Cognizant's Advanced AI Lab, we're progressing this effort by investing in state-of-the-art core AI research that establishes our position at the forefront of innovation and our industry. Because we own the client solutioning relationship from end to end, we have a unique line of sight into businesses, industries, and their AI needs. We're putting dedicated focus on AI research and development to lay the groundwork for better business outcomes and a better future.\"\nBy harnessing the power of Large Language Models (LLMs) as capable knowledge workers, the lab's re...
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