Mphasis inches up on signing multi-year global strategic collaboration agreement with Amazon Web Services
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Mphasis is currently trading at Rs. 2445.55, up by 0.40 points or 0.02% from its previous closing of Rs. 2445.15 on the BSE.
The scrip opened at Rs. 2444.95 and has touched a high and low of Rs. 2456.40 and Rs. 2426.65 respectively. So far 3681 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2835.00 on 19-Feb-2024 and a 52 week low of Rs. 1660.65 on 17-Apr-2023.
Last one week high and low of the scrip stood at Rs. 2529.95 and Rs. 2411.05 respectively. The current market cap of the company is Rs. 46045.25 crore.
The promoters holding in the company stood at 55.45%, while Institutions and Non-Institutions held 39.47% and 5.08% respectively.
Mphasis has signed multi-year global Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS). The collaboration marks a significant milestone as Mphasis establishes the Gen AI Foundry, led by Mphasis.AI, a dedicated business unit focusing on artificial intelligence (AI) solutions, AI use case assessments, consulting, and business transformation.
The Gen AI Foundry will serve as a dynamic platform for modeling industry use cases and developing proof of concepts (POCs) initially within the financial services Industry, with plans to expand across other sectors. This virtual forum will offer clients the opportunity to experience demos and POCs either at the Mphasis Experience Centre in NYC or AWS Executive Briefing Center (EBC) in NYC, providing a showcase of generative AI solutions tailored to the client's needs and objectives.
With the rise of generative AI as a powerful tool, the Foundry is dedicated to facilitating its adoption in financial services firms, aiding in accelerating efficiencies and fostering business transformation. Solutions such as Intelligent Document Processing (IDP) automates data extraction and analysis, minimizing errors and streamlining workflows, leading to substantial time and cost savings. Additionally, utilizing generative AI for contact center transformation enhances customer engagement and operational efficiency through automated processes and personalized interactions.
The Gen AI Foundry aligns with Mphasis' vision to fully integrate as a trusted provider to the financial services space, with targeted offerings for banks ranking among the Fortune 100, brokerage, and insurance firms. The use cases will focus on applications critical industry applications, such as generative AI for core platform modernization, contract management for banks, intelligent document processing for new banking accounts, mortgage processing, and in claims processing for insurance carriers, and for investigating financial crime.
Mphasis is a global service provider, delivering technology-based solutions across many sectors.
