On Monday, L&T Technology Services experienced a 2% increase in stock price after announcing a partnership with NVIDIA to develop software-defined architectures for medical devices focused on endoscopy. The collaboration aims to improve the image quality and scalability of products within the medical industry.
The architecture is designed to be a scalable platform capable of supporting multiple applications, providing real-time decision-making capabilities. This addresses industry-wide challenges such as availability, cost, and dependencies associated with custom and proprietary hardware components. L&T Technology Services highlighted the architecture’s image processing pipeline, which 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, which are abnormal growths often found during colonoscopies. The solution aims to provide low-latency data transfer and superior image processing without performance bottlenecks, enhancing the overall experience for customers.
Shanker Trivedi, Senior Vice President of Enterprise Business at NVIDIA, emphasized that the collaboration offers a comprehensive solution for customers seeking 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 recruit 2000 freshers this year. As of now over 1000 new hires have been onboarded with the remaining set to join in upcoming quarters.
Financially in September quarter FY24 L&T Technology Services reported a sequential increase of 1.4% in net profit and an increase of 3.7% in revenue on a sequential basis at that time shares of L&T Technology Services were trading at 1.49% higher at Rs 4520 each on BSE