L&T Technology Services experienced a 2% increase in stock price on Monday, following the announcement of a partnership with NVIDIA to develop software-defined architectures for medical devices focused on endoscopy. This collaboration aims to improve image quality and scalability within the medical industry by creating a scalable platform capable of supporting multiple applications, providing real-time decision-making capabilities.
The architecture’s image processing pipeline includes features for noise reduction, edge and contrast improvement, texture and color enrichment, and speckle correction. Additionally, the partnership involves the development of Artificial Intelligence/Machine Learning models to detect, identify, and classify polyps during colonoscopies. This solution promises low-latency data transfer and superior image processing without performance bottlenecks, enhancing the overall customer experience.
Shanker Trivedi, Senior Vice President of Enterprise Business at NVIDIA, highlighted how this collaboration offers a comprehensive solution for customers looking to transition to a software-defined business model through real-time AI applications.
In October 2023, Amit Chadha announced that L&T Technology Services plans to hire 2,000 freshers this year. As of now, over 1,000 new hires have already been onboarded, with the remaining set to join in the upcoming quarters.
Financially speaking, in Q3 FY24 (September quarter), L&T Technology Services reported a 1.4% sequential increase in net profit and a 3.7% rise in revenue on a sequential basis. At the time of writing this article