In Short:
Mphasis, an IT solutions provider, has teamed up with Amazon Web Services to launch the Gen AI Foundry focusing on artificial intelligence solutions for financial services. The collaboration will offer clients AI use case assessments, consulting, and business transformation. Mphasis aims to accelerate AI adoption and business modernization in the financial industry by harnessing the power of AWS’s generative AI and data services.
Mphasis and Amazon Web Services Collaborate to Establish the Gen AI Foundry
Exciting news alert! Mphasis, the renowned IT solutions provider, has just announced a multi-year global strategic collaboration agreement with **Amazon Web Services (AWS)**. This partnership will pave the way for the establishment of the Gen AI Foundry, a dedicated business unit under Mphasis.AI focused on providing innovative artificial intelligence (AI) solutions, AI use case assessments, consulting, and business transformation.
What is Gen AI Foundry?
The Gen AI Foundry will serve as a platform for developing industry-specific use cases and proof of concepts (POCs), starting with the financial services industry. The goal is to eventually expand these solutions to other sectors as well.
Client Experience and Showcases
Clients can look forward to experiencing demos and POCs at either the Mphasis Experience Centre in NYC or the AWS Executive Briefing Center in NYC. This virtual forum will showcase generative AI solutions tailored to each client’s unique needs and objectives.
Quotes from Mphasis Leadership
“The Gen AI Foundry for financial services, led by Mphasis.AI, is our commitment to accelerating AI adoption and business modernisation for our clients. By harnessing the power of AWS’s generative AI and data services, we are poised to set new benchmarks in the financial services industry,” said **Nitin Rakesh**, Chief Executive Officer and Managing Director of Mphasis.
Focus Areas
The Gen AI Foundry will primarily focus on applications within the financial services industry, including core platform modernisation, contract management for banks, intelligent document processing for new banking accounts, mortgage processing, claims processing for insurance carriers, and financial crime investigations.
This collaboration aligns with Mphasis’ vision to become a trusted provider in the financial services sector, with specialized offerings for banks, brokerage firms, and insurance companies.
