TEANECK, N.J. - Global technology company Cognizant (NASDAQ:CTSH) announced the inauguration of its Advanced Artificial Intelligence (AI) Lab in San Francisco today. The new facility is dedicated to the research and development of AI technologies and boasts a team of experts, including industry pioneers and PhDs. The lab is already supported by a robust portfolio of 75 issued and pending patents, reflecting the company's strategic focus on creating innovative AI solutions.
The Advanced AI Lab aims to push the boundaries of AI application in business, leveraging Cognizant's $1 billion investment in generative AI over the coming three years. This initiative aligns with findings from a study conducted by Cognizant and Oxford Economics, which projects that generative AI could contribute up to $1 trillion to the U.S. economy by 2032.
Cognizant CEO Ravi Kumar S. emphasized the company's commitment to being an AI-first enterprise, stating that the lab's establishment marks a significant step in Cognizant's journey to lead in AI innovation. The lab's research will focus on developing AI systems that can enhance decision-making and improve business outcomes across various sectors.
One of the lab's key objectives is to harness Large Language Models (LLMs) for building decision-making AI systems that go beyond simple prompt engineering. These systems are designed to support strategic business decisions and optimize operations in areas such as finance, sales, product development, and IT support.
The lab has established collaborations with research institutions, customers, and startups, including a partnership with Stanford University School of Medicine's Brain Dynamics Lab. Dr. Manish Saggar, Assistant Professor and Director at Stanford, expressed excitement over the joint research efforts, particularly in the field of mental health.
Under the leadership of AI entrepreneur Babak Hodjat, and supervised by Risto Miikkulainen, AI Professor at the University of Texas at Austin, the lab's team has already made significant academic contributions. In the past year, they have published 14 papers and received recognition for their work on land-use planning at the NeurIPS 2023 Climate Change Workshop.
In addition to the Advanced AI Lab, Cognizant continues to support AI adoption through its AI Innovation Studios located in key cities worldwide. The company remains committed to responsible and ethical AI practices, focusing on safety, security, privacy, transparency, and inclusion.
This article is based on a press release statement.
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