LTIMindtree shares rise post launching of generative AI platform Canavas.ai

Shares of LTIMindtree Ltd jumped nearly 1.2 percent in early trade on June 22, post launching of enterprise-ready generative AI platform Canavas.ai. At 9:24 am the LTIMindtree stock was trading 0.29 percent higher at Rs 5014.01 on NSE.

Details of the launch

According to a filing with BSE on June 21, the technology consulting and digital solutions company launched Canvas.ai, an enterprise-ready generative AI platform designed to accelerate the concept-to-value journey for businesses using mindful AI principles. The platform enables clients to build, manage and consume generative AI solutions responsibly.

Follow our live blog for all market action

The filing further stated that, “Canvas.ai is among the first-of-its-kind platform designed to help enterprises jump start and scale generative AI capabilities, bolstering business innovation and engineering productivity. Leveraging well-architected framework and sound governance measures, Canvas.ai effectively manages proprietary and industry-specific data, while factoring its ethical use, sustainability, privacy and security. The platform-based architecture of Canvas.ai caters to the business requirements of three key personas – creators who build the generative AI solutions, admins who manage, and users who consume governed generative AI solutions.”

Also Read: LTIMindtree pipeline strong, aiming for double-digit growth in FY24, says CEO Debashis Chatterjee

Management Commentary

Debashis Chatterjee, Chief Executive Officer and Managing Director at LTIMindtree said, “Generative AI is a seminal trend that is slating the next phase of autonomous enterprises. Through our 4E model of Educate, Experience, Explore and Employ, we remain invested in helping our clients adopt and adapt generative AI ways of working. We are happy to note that several global clients are already leveraging Canvas.ai to solve for unique business needs in their journey towards digital transformation and cutting-edge experience.”

Share Performance

LTIMindtree Ltd stock has given a return of 14.22 percent over the last six months. Thus, considerably outperforming the benchmark Nifty50 index which has given a return of 4.02 percent.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.