Global IT services and consulting major Cognizant is tapping generative AI (gen AI) technology along with the Nvidia BioNeMo platform to help improve productivity of drug discoveries and speed up its market reach pushing growth in its health sciences vertical.
“By leveraging gen AI technologies, clinical researchers can rapidly sift through extensive datasets, more accurately predict interactions between drug compounds and create new, viable drug development pathways,”
Cognizant said in a statement.
Amid high costs, long development cycles and high rate of failure, traditional drug discovery methodologies in the life sciences industry are process intensive and require the analysis of vast repositories of scientific literature and clinical data for relevant insights.
"More than any other technological breakthrough in recent decades, generative AI has the potential to revolutionize the way new drugs are researched, developed and brought to market, making the creation of lifesaving discoveries faster, smarter and more accessible to all,"
said Anna Elango, EVP, Cognizant's Core Technologies & Insights.
Cognizant said it aims to give clients access to a suite of model-making services, including pretrained models, cutting-edge frameworks, and APIs, that offers clients the quickest path to train and customize enterprise models using their proprietary data. The offering is intended to enable this with reduced manual intervention for data analysis, and without the need to write elaborate code and build or maintain infrastructure.
"Generative AI will drive the next wave of enterprise productivity gains across industries, enabled by the Nvidia AI Enterprise software platform. Using Nvidia BioNeMo, Cognizant will help provide its life sciences clients with advanced, secure and reliable AI services to drive improved outcomes with custom drug discovery applications,"
said Alvin DaCosta, VP, Global Consulting Partner Organization, Nvidia.
The US headquartered firm counts health sciences as its largest vertical, which surpassed BFSI (banking, financial services and insurance) with revenue at $1,396 million for the quarter even as the growth dipped by 2.1% year-on-year (YoY) and 2.7% on a constant currency (CC) basis while BFSI decelerated by 5.8% YoY and 6.6% CC terms. Cognizant reported a 1.7% drop YoY and 2.4% in CC in total revenues at $4,758 million for the October to December period. Cognizant is also understood to have hired Mohd Haque from Wipro, where he headed the healthcare services vertical, for which there is an ongoing legal employment case.
Cognizant's life sciences offerings support more than 120 global manufacturing lines and more than 18 million patients with medical device company products, the firm said.
Beyond healthcare, Cognizant further intends to pursue additional applications with Nvidia in manufacturing and automotive engineering, where gen AI has the potential to enhance productivity, optimize costs and quicken market innovation.
Cognizant intends to establish an Nvidia AI Centre of Excellence this year to further innovate with Nvidia technologies, including the Nvidia Metropolis, Nvidia Omniverse and Nvidia AI Enterprise platforms, for the benefit of clients across industries around the world, the company statement added.
Sourced from: The Economic Times