L&T Technology Services experienced a 2% increase in stock price on Monday after announcing a partnership with NVIDIA to develop software-defined architectures for medical devices focused on endoscopy. The collaboration aims to improve image quality and scalability of products within the medical industry by designing 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 includes the development of Artificial Intelligence/Machine Learning models to detect, identify, and classify polyps during colonoscopies. The solution promises low-latency data transfer and superior image processing without performance bottlenecks, enhancing the customer experience.
Shanker Trivedi, Senior Vice President of Enterprise Business at NVIDIA, emphasized that the collaboration offers a comprehensive solution for customers looking to transition to a software-defined business model through real-time AI applications.
In October, L&T Technology Services announced its plan to hire 2,000 freshers this year. Over 1,000 new hires have already been onboarded, with the remaining set to join in the upcoming quarters.
Financially speaking, in the September quarter of FY24, 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 publication, shares of L&T Technology Services were trading 1.49% higher at INR 4520 apiece on BSE.