Genpact&#8217;s GenAI Revenue Surges 12% in Q4 FY24 as AI Adoption Drives Growth
During its Q4 earnings call on Thursday, Genpact, a global leader in business process transformation, announced a 9% year-over-year revenue increase, with its Data-Tech-AI segment achieving a 12% boost. The company’s full-year revenue reached $4.77 billion, a 6.5% increase from 2023, and fourth-quarter revenue of $1.25 billion. Genpact continues to position itself at the forefront of AI-driven digital transformation. The company attributed this growth to its strategic investments in GenAI solutions, which help clients transition from AI prototypes to enterprise-scale implementations. It further noted that it secured 101 new clients and 14 major deals. Genpact is doubling down on AI innovation. “We now have more than 145 Gen AI solutions in the production environment with clients, either deployed or going live with Gen AI bookings accelerating to $100,000,000 just in Q4,” CEO BK Kalra said, signalling massive enterprise demand for AI-driven transformation. “Innovation is front and centre at Genpact.” CFO Mike Weiner underscored agility as a key focus for 2025, noting, “Speed is a key focus for us in 2025,” highlighting the firm’s push for faster, AI-powered execution. AI Innovation and Competitive Positioning Genpact’s focus on AI is evident in its AI Value Studio and Genpact Gigafactory, both designed to accelerate AI deployment across industries. The AI Value Studio enables businesses to identify high-impact AI use cases and create customised AI roadmaps. Meanwhile, the Gigafactory helps scale AI solutions for enterprises, ensuring seamless GenAI integration. The company said its latest AI tools optimise processes such as time-to-bill, credit-free bill processing, and purchase order management, significantly improving accuracy, efficiency, and vendor/customer experience. The company is also deploying AI-powered network operations, covering 120,000 endpoints, implementing zero-touch provisioning, and reducing IT support tickets—showcasing how AI enhances internal efficiency alongside client-facing solutions. Kalra highlighted this shift, saying, “We see ongoing evidence that GenAI is significantly expanding our total addressable market.” This indicates not only increasing AI adoption but also an opportunity for Genpact to capture new market segments through AI innovation. According to industry reports, 61% of companies now dedicate up to 10% of their tech budgets to GenAI initiatives, reinforcing the growing business imperative for AI adoption. Genpact faces challenges in a saturated AI market despite its aggressive AI expansion, where numerous competitors offer AI-powered business solutions. The company addresses this by focusing on domain-specific AI models tailored to the finance, supply chain, healthcare, and customer service industries. Additionally, Genpact is considering mergers and acquisitions (M&A) to bolster its AI capabilities. With AI now contributing 48% of its total revenue, it is poised to become an industry leader in enterprise AI transformation.
The company secures major deals, accelerates AI adoption, and unveils new solutions to reshape enterprise operations.
The company secures major deals, accelerates AI adoption, and unveils new solutions to reshape enterprise operations.
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["AI", "ML", "GenAI", "R", "Go", "Git", "digital transformation", "AI transformation", "innovation", "programming_languages:R"]
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