Over 50 programs completed in 1H 2024,
delivering a 40% increase in productivity and 50% higher developer
efficiency as their AVA+ platform revolutionizes software
engineering productivity.
Clients experience double-digit savings via AI Arbitrage
and accelerated innovation.
Delivering real-world client impact with Gen AI; a
Fortune 50 bank, leading healthcare provider, major manufacturing
client and others see significant gains with GenAI solutions.
Inaugurated their Chennai AI Studio, a cutting-edge hub
for co-engineering and real-time problem-solving with clients.
More than 1,500 employees trained to be Gen AI-literate,
driving transformative client solutions and internal
productivity.
Recognized as a Market Leader in Generative AI services
by leading industry analysts, further validating leadership and
innovation in the GenAI space.
BASKING
RIDGE, N.J., July 31,
2024 /PRNewswire/ -- Ascendion is making waves in the
GenAI landscape with significant strides in innovation, client
success, and talent development while driving tangible results and
setting new benchmarks for excellence in AI-driven solutions.
In an industry dominated by traditional service providers,
Ascendion is breaking away from the pack and emerging as a
disruptive leader in the software engineering space. The company's
trajectory in the first half of 2024 has surpassed much of their
competition with GenAI at the forefront of their strategy and
operations.
"Our commitment to 'Engineering to the power of AI' has
driven market-leading progress in the first half of 2024, said
Karthik Krishnamurthy, CEO of
Ascendion, "From groundbreaking client impact to significant
productivity gains, we've set the bar for the industry. GenAI is
already driving a significant part of our growth and business, and
as we move into the second half of the year, we're doubling down on
innovation and excellence, poised to deliver even greater value and
transformation."
Highlights from the first two quarters of 2024 include:
- Ascendion AVA+ platform delivers impact: Over 50 GenAI
client programs have been successfully completed so far in 2024
(with more underway). Ascendion has seen a 382% increase in Gen
AI-driven revenue compared to 2023.
- Client success stories: Ascendion is delivering
significant productivity gains and commercial impact for clients.
- Fortune 50 bank: Leveraging Ascendion's AVA+ platform,
the bank achieved a 50% increase in productivity and a 40%
reduction in effort for data extraction and validation
processes.
- Leading healthcare provider: Implemented a GenAI driven
data de-identification and re-identification solution, enhancing
operational efficiency by 30% and reducing error rates by 50%.
- Major manufacturing client: Utilized GenAI for
customer service optimization, resulting in a 20% increase in
operational efficiency and a 25% boost in system efficacy.
- Client economic impact through AI arbitrage: Clients now
taking advantage of the option for "AI Commercials" (vs. "Heritage
pricing") for double-digit savings, freeing up capital for
innovation and further growth.
- GenAI training: More than 1,500 employees trained in
GenAI tools, with 57% of the entire workforce now Gen
AI-literate.
- Expanding leadership and expertise: In a strategic move
to amplify its AI capabilities, Ascendion appointed industry
veteran Daryush Laqab as Chief AI Officer. With over two decades of
experience at tech giants like NVIDIA, JPMorgan Chase & Co.,
Google, Microsoft, and Twitter, he will spearhead the company's
AI-driven productivity, transparency, and quality through the AVA+
platform.
- Market validation from industry analysts: Ascendion has
been recognized as a Market Leader in Generative AI services by
leading industry analysts.
- A new hub for AI innovation: The newly launched AI
Studio in Chennai is designed to
foster creativity, collaboration, and real-time problem-solving,
enabling clients to witness the transformative power of Gen AI
firsthand. "Enterprise leaders are excited about the future of AI,
but they need to see real-world results," said Prakash Balasubramanian, Executive Vice
President, Engineering Solutions. "Our new AI Studio in
Chennai provides a dynamic space
where clients can co-engineer with us and see – in real time – the
immediate impact of our GenAI solutions on their business
challenges."
Ascendion's GenAI progress in the software engineering space is
capturing attention. "Ascendion is demonstrating agility and
velocity in the early days of the GenAI revolution," said
David Cushman, Executive Research
Leader for HFS Research. "Their ability to integrate AI seamlessly
into client workflows and demonstrate immediate ROI places
them among the leaders in the AI-powered software engineering
landscape."
As Ascendion continues to lead the charge in Gen AI innovation,
we remain committed to pushing the boundaries of what's possible,
delivering unparalleled value to our clients, and setting new
standards for the industry. The second half of 2024 promises even
greater advancements as we continue to engineer the future with the
power of AI.
About Ascendion
Ascendion is a leading provider of AI-first software engineering
services. With a focus on applied AI, software engineering, cloud,
data, experience design, and talent transformation, Ascendion
accelerates innovation for Global 2000 clients. Ascendion is
headquartered in New Jersey and
has 30 offices across the U.S., India, and Mexico. Ascendion is a leader in digital
engineering services, dedicated to providing innovative solutions
that empower businesses.
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SOURCE Ascendion