finance
Cognizant and Uniphore Partner on AI Models as Cognizant Plans Entry-Level Hiring Increase
Cognizant and Uniphore announced a partnership to develop industry-specific small language models. Cognizant's CEO outlined plans to boost entry-level hiring from 15,000 to 25,000 graduates between 2024 and 2026. Uniphore's CEO highlighted efficiency gains in insurance claims and a deal with KPMG.
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Cognizant and Uniphore are building industry-specific small language models through a new partnership, the companies' CEOs said in a recent interview. Cognizant CEO Ravi Kumar and Uniphore CEO Umesh Sachdev spoke to Jon Fortt about the collaboration, which focuses on AI adoption in various sectors. CNBC reported the interview was published one hour ago.
Kumar stated that Cognizant will hire more entry-level workers, increasing from 15,000 to 20,000 to 25,000 graduates from 2024 to 2026. He described AI as an 'equalizer' lifting up the bottom of the pyramid. Sachdev noted that insurance claims processing time has been reduced from 27 minutes to 3 minutes through AI applications.
He added that most CEOs are slashing entry-level positions, calling it a flawed model. 2 million invoices, Sachdev said, providing proof of AI's efficiency benefits.
