We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Genpact (G) Acquires Rage Frameworks to Boost AI Offerings
Read MoreHide Full Article
Genpact Limited (G - Free Report) recently announced plans to acquire Rage Frameworks, a Dedham-based artificial intelligence (AI) startup. The acquisition is expected to boost its AI technology platform targeting enterprises. However, the terms of the deal were not disclosed.
We note that the two companies have partnered many times in the past to cater to clients in the financial services and insurance sectors.
With this acquisition, Genpact will be able to provide AI offerings across industries such as consumer packaged goods, industrial engineering, life-sciences and high-tech.
As per an IDC report, worldwide spending on cognitive systems and AI is estimated to go past $47 billion by 2020 at a CAGR of 55.1%. Given the huge scope the segment has to offer, it is not surprising to see a number of companies flocking to the scene.
Apart from IBM’s (IBM - Free Report) Watson, Google’s (GOOGL - Free Report) Deep Mind, Microsoft’s (MSFT - Free Report) Cortana and Apple’s Siri, there are some rookies in the industry too such as AIBrain, Anki and Entefy that are trying to carve a niche in the segment.
With this acquisition, we expect Genpact to better position itself in the enterprise AI space, resulting in greater adoption for its services. Also, the company’s thorough domain expertise is a positive, helping it to generate enhanced actionable insights for enterprises.
Moreover, Rage Frameworks has a commendable portfolio of 20 “intelligent machines”, which can streamline an enterprise’s business processes such as contract reviews and supply chain cost audits. These will help Genpact to offer customized solutions.
Stock Performance Overview
Shares of Genpact have largely underperformed the Zacks Outsourcing industry over the last one year. While the industry gained a modest 14.5%, the stock declined 8.3%. The underperformance of the stock could be due to rising labor costs and a competitive landscape.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
Image: Bigstock
Genpact (G) Acquires Rage Frameworks to Boost AI Offerings
Genpact Limited (G - Free Report) recently announced plans to acquire Rage Frameworks, a Dedham-based artificial intelligence (AI) startup. The acquisition is expected to boost its AI technology platform targeting enterprises. However, the terms of the deal were not disclosed.
We note that the two companies have partnered many times in the past to cater to clients in the financial services and insurance sectors.
With this acquisition, Genpact will be able to provide AI offerings across industries such as consumer packaged goods, industrial engineering, life-sciences and high-tech.
Genpact Limited Price and Consensus
Genpact Limited Price and Consensus | Genpact Limited Quote
Why this Move?
As per an IDC report, worldwide spending on cognitive systems and AI is estimated to go past $47 billion by 2020 at a CAGR of 55.1%. Given the huge scope the segment has to offer, it is not surprising to see a number of companies flocking to the scene.
Apart from IBM’s (IBM - Free Report) Watson, Google’s (GOOGL - Free Report) Deep Mind, Microsoft’s (MSFT - Free Report) Cortana and Apple’s Siri, there are some rookies in the industry too such as AIBrain, Anki and Entefy that are trying to carve a niche in the segment.
With this acquisition, we expect Genpact to better position itself in the enterprise AI space, resulting in greater adoption for its services. Also, the company’s thorough domain expertise is a positive, helping it to generate enhanced actionable insights for enterprises.
Moreover, Rage Frameworks has a commendable portfolio of 20 “intelligent machines”, which can streamline an enterprise’s business processes such as contract reviews and supply chain cost audits. These will help Genpact to offer customized solutions.
Stock Performance Overview
Shares of Genpact have largely underperformed the Zacks Outsourcing industry over the last one year. While the industry gained a modest 14.5%, the stock declined 8.3%. The underperformance of the stock could be due to rising labor costs and a competitive landscape.
Zacks Rank
Currently, Genpact carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think. See This Ticker Free >>