“AI's grip on our future is unbreakable”, says Shibu Nambiar, Global High Tech Business Leader at Genpact, who has over 25 years of experience in strategy, business processes, and AI. “You and I are having an AI-driven conversation as we speak”, he said over video call. From background noise reduction and video enhancements to virtual assistants and enhanced security, AI's capabilities are transforming the way we work and communicate.

"AI's impact is far-reaching, touching every aspect of our digital interactions," Shibu continues. "Real-time transcriptions and language translation are breaking down communication barriers, while smart summarisation and gesture recognition are streamlining workflows and enhancing productivity. As AI continues to evolve, its integration into everyday tools like video conferencing platforms will only deepen, driving efficiency, accessibility, and security in unprecedented ways."

A lifelong learner, Shibu emphasises the importance of continuous learning and upskilling within his teams. His favourite book, "Atlas of the Heart" by Brené Brown, profoundly influenced his leadership style. Brown’s exploration of human emotions and experiences resonates with Shibu’s approach to keeping humans-in-the-loop with AI. He believes that fostering empathy, resilience, and wholehearted living is crucial in balancing the implications of AI in our lives.

"We must involve a diverse group of people in the development process itself because then it will ensure different perspectives and needs are considered, creating a more balanced and inclusive AI system," he says. 

"The human element remains central to any kind of AI initiative; we must ensure there is always a human in the loop for critical decision-making processes."

Artificial Intelligence (AI) is the cornerstone of Genpact's strategy to drive digital transformation and business value for its clients. As a global professional services firm, Genpact applies AI to revolutionise business operations across industries, including high tech, banking, insurance, consumer goods, healthcare, and manufacturing.

Advanced Analytics and Insights

By integrating AI-driven solutions, Genpact significantly enhances business outcomes such as productivity, customer and employee experiences, and profitability. AI-powered automation tools manage repetitive tasks such as data entry, document processing, and scheduling, freeing human resources to focus on more complex and value-added activities, thus boosting overall productivity.

"Genpact is a leading digital operations, data, and AI-led global professional services company. What sets Genpact apart is our willingness to innovate in how we deliver outcome-based services to our clients,” says Shibu. “We are laser-focused on improving the quality of services, increasing productivity, and lowering operational costs for our customers. The application of AI technologies is central to achieving better outcomes and ensuring client satisfaction."

"When we first introduced AI, it was a basic form of robotic process automation, incorporating technologies like natural language processing and machine learning. Over the years, we have progressively integrated generative AI into our services. These advancements reflect the company's evolution over the past 25-plus years of our existence,” Shibu adds.

AI enables Genpact to offer advanced analytics capabilities, providing clients with deep insights into their operations. Machine learning algorithms analyse vast amounts of data to identify patterns, trends, and anomalies that may not be visible through traditional analysis methods. These insights help businesses make informed decisions, predict market shifts, optimise supply chains, and tailor customer experiences to individual preferences.

“We will see a significant increase in AI-driven chatbots and virtual assistants that can handle 24/7 service without the need for sleep or food," Shibu noted.  

Shibu continues, “When you and I start making phone calls to our banks, airlines, or other institutions, it’s only a matter of time before we are speaking to human-like interfaces. This shift is going to completely transform our experience."

Genpact leverages AI to enhance customer engagement and support. AI-driven chatbots and virtual assistants provide 24/7 customer service, addressing queries, resolving issues, and guiding users through various processes. These AI systems deliver personalised interactions that mimic human conversation, improving customer satisfaction and loyalty. Additionally, natural language processing (NLP) technologies help in understanding and interpreting customer feedback, allowing for continuous improvement in service delivery.

Financial Services Optimisation

In the financial sector, Genpact uses AI to optimise various processes such as fraud detection, risk management, and regulatory compliance, demonstrating the transformative power of technology in these critical areas.

"We operate in a broad set of industry verticals such as high tech, manufacturing, consumer packaged goods, retail, life sciences, healthcare, and financial services like banking, insurance, and capital markets," says Shibu.

AI plays a critical role in these sectors. "AI algorithms analyse transaction data to detect suspicious activities in real-time, significantly reducing the risk of fraud," Shibu explains. "Predictive analytics models assess potential risks and recommend mitigation strategies, enhancing the overall security and stability of financial operations."

Furthermore, AI drives compliance with regulatory requirements. "AI helps boost compliance by continuously monitoring and analysing relevant data," Shibu adds, highlighting the comprehensive capabilities of AI in maintaining financial integrity.

He continues, "We are using those data assets now to create Genpact’s hero solutions, which we apply to our clients' business processes, including finance and accounting, directly impacting cashflow."

"Over the last 18 months or so, we have created over 50 generative AI hero solutions," Shibu explains. "We ran hundreds of pilots, which evolved into these solutions, and are now being implemented with our clients across multiple industries. These include an industrial platform that uses generative AI to update and maintain legacy code and generate test data during the software development lifecycle. And an unbilled invoices solution that uses generative AI to provide near-to-real-time data to progress billing opportunities.  

Behind these solutions, we have established three AI innovation centres around the world—in London, Delhi, and Bucharest. These centres are already operational, and we plan to open more in the future."

These centres serve as hubs for developing and piloting cutting-edge AI solutions. The innovation centres facilitate collaboration with technology partners, clients, and academic institutions to co-create solutions that address specific business challenges. This collaborative approach ensures that Genpact stays at the forefront of AI advancements and continuously delivers applied AI solutions to its clients.

"Partnerships are crucial in our AI strategy," Shibu notes. "Our collaboration with Microsoft, for instance, leverages its newest generative AI technology to provide better financial forecasting capabilities to our clients. Similarly, our partnership with AWS involves several generative AI solutions available in the AWS marketplace. We’ve also developed a generative AI-based claims solution using AWS Bedrock technology."

"ServiceNow is another key partner," Shibu continues. "We are creating an offering using ServiceNow's generative AI technology to detect fraudulent activities in card disputes, saving time and costs for our financial services clients and their customers. Additionally, we have developed a generative AI solution for instantaneous translation of foreign languages with AWS Connect to improve customer service."

Shibu notes the reciprocal nature of these partnerships, saying, "Partnership by definition needs to be a two-way street. Most of the large platform providers benefit directly from working with a service provider like Genpact. Our deep domain knowledge across finance, accounting, supply chain, and core operations in various industries, combined with their technological advancements, creates a powerful synergy. This collaboration brings the best of technology and industry expertise to our clients."

Ethical AI and Human-Centric Approach

A critical aspect of Genpact’s AI strategy is its commitment to ethical AI and a human-centric approach. This ensures that AI systems are designed to augment human decision-making, rather than replace it entirely.

"Ensuring the human element remains central to any kind of AI initiative is something I think about every single day," explains Shibu. "We need to implement a variety of strategies and practices to make this happen. By embedding certain practices into specific AI initiatives, both developers and providers like Genpact can ensure that the human element remains central, fostering technology that enhances human life aspects and human dignity."

"First and foremost, we must ensure there is always a human in the loop for critical decision-making processes. AI should support and augment human decision-making, not replace it entirely. For me, it starts with focusing on human needs and experiences when designing AI systems. Engaging end users throughout the development process ensures the technology addresses real human problems and enhances user experience. Additionally, involving a diverse group of people in the development process ensures different perspectives and needs are considered, creating more balanced and inclusive AI systems."

He adds, "Implementing AI involves several critical ethical considerations to ensure responsible and beneficial outcomes. AI systems must be designed to avoid reinforcing biases, ensuring fair treatment across different demographics, and preventing discrimination. The AI decision-making process must be transparent and explainable, with clear accountability for actions and outcomes. Whether it is developers, organisations like Genpact, or users, we all share responsibility for any negative consequences of AI use."

"Lastly, AI systems need to be designed and tested to prevent harm, with robust safeguards against malicious use. AI should augment human decision-making, not replace it entirely. Oversight can prevent errors and ensure ethical standards are maintained, which becomes increasingly relevant as we see progress in this space."

This commitment to ethical AI and human-centric design is at the core of Genpact’s AI strategy. By prioritising human involvement, transparency, and accountability, Genpact not only ensures the ethical use of AI but also fosters trust and reliability in its AI-driven solutions. The company's approach underscores the importance of balancing technological advancements with ethical considerations to create a future where AI enhances rather than detracts from human experiences.

"AI can manage mundane, repetitive tasks, thereby freeing human workers to concentrate on more creative and high-value activities," says Shibu. "This shift enhances productivity by augmenting human capabilities. AI tools and systems can significantly boost productivity, leading to the creation of new job roles and opportunities."

Shibu continues, "AI is driving the emergence of entirely new industries and markets, such as autonomous vehicles, personalised medicine, and smart cities. These developments will demand a diverse range of skills and expertise."

He explains, "The integration of AI into the workforce necessitates up-skilling and re-skilling programs, offering individuals the chance to learn new skills and transition into emerging roles. This will create a compounding positive impact on entrepreneurship. AI enables individuals to innovate and establish new businesses and startups by leveraging AI-powered tools and platforms to develop unique products and services."

Case Studies and Success Metrics

"We are engaged in over 2,000 AI conversations every month across our diverse client base spanning multiple industries," states Shibu. 

Over 18 months, Genpact developed 50 generative AI hero solutions, which are being implemented by clients across multiple industries.

"These hero solutions include a knowledge assistant, billing optimisation, dispute assist, terms and conditions copilot, vendor assist, and an AI-based reconciliation module. Think of these various hero solutions—all large language models—built in partnership with Microsoft Azure OpenAI, and AWS. These assets are now being integrated into our clients' ecosystems."

"These assets immediately start driving value by reducing days sales outstanding, thereby improving cash flow. This, in turn, has a positive impact on our clients' bottom line and their profit and loss statements. Collectively, these solutions unify to create a significant impact on our clients' cash flow."

Genpact’s strategy of leveraging partnerships underscores its commitment to delivering state-of-the-art AI solutions. By collaborating with leading technology providers, Genpact ensures that its clients benefit from cutting-edge innovations without the need to develop these technologies in-house. This approach not only accelerates the deployment of AI solutions but also enhances their effectiveness and reliability.

Partnerships always drive value

Partnerships are pivotal in advancing AI capabilities and applications, as evidenced by the collaborations between Genpact and leading technology providers like Microsoft, AWS, and ServiceNow. These alliances are instrumental in harnessing the power of generative AI to deliver cutting-edge solutions across industries.

For instance, Genpact's partnership with Microsoft has led to the development of Microsoft Copilot for Finance, a generative AI technology that enhances financial forecasting capabilities. This collaboration is not confined to a specific industry, making it versatile and beneficial for clients across multiple sectors. By leveraging Microsoft's advanced AI tools, Genpact can provide more accurate and efficient financial forecasting, thereby driving better business outcomes for its clients.

Similarly, Genpact's relationship with AWS has resulted in the creation of several generative AI solutions available in the AWS marketplace. A notable example is the development of a generative AI-based claims solution using AWS Bedrock technology. This partnership model with AWS exemplifies how combining cloud infrastructure with advanced AI capabilities can streamline operations and improve efficiency. Additionally, Genpact has utilised AWS Connect to develop AI solutions for instantaneous translation of foreign languages, significantly enhancing customer service and support.

ServiceNow is another key partner for Genpact, particularly in addressing card disputes. By utilising ServiceNow's generative AI technology, Genpact has been able to create solutions that detect fraudulent activities, saving time and costs for both clients and end consumers. This collaboration highlights the importance of leveraging specialised AI technologies to solve specific business problems effectively.

“As we celebrate these advancements, it's crucial to remember that at the heart of every technological breakthrough is the human spirit,” says Shibu. 

“Our ability to innovate is powered by our unique experiences and perspectives. The true progress lies in combining AI's capabilities with human insight. It's this synergy that unleashes the full potential of technology, ensuring it serves human needs and ethical standards. By prioritising human-centric AI, we foster a future where technology empowers people, enhances creativity, and maintains our core values.”

The philosophy of "inch wide, mile deep" adopted by Shibu underscores the significance of deep domain and industry knowledge. This approach ensures that AI solutions are not only technologically advanced but also highly relevant and tailored to the specific needs of different clients. By combining deep industry expertise and insights from running core operations with the cutting-edge technologies provided by its partners, Genpact can apply AI to the last mile to deliver significant business value to its clients.

In essence, partnerships in AI are not merely about integrating new technologies; they are about creating synergistic relationships that enhance the overall capability to innovate and solve complex business challenges. These collaborations are a two-way street, where both parties bring unique strengths to the table, resulting in solutions that are greater than the sum of their parts. Through strategic partnerships, companies like Genpact can stay ahead of the curve, continuously offering enhanced services and maintaining a competitive edge.