Genpact has announced the opening of the Genpact Artificial Intelligence Innovation Centre in London. The centre is designed for co-innovation with clients to help unlock business transformation leveraging AI in areas such as supply chain management, finance and accounting, customer care, sales and commercial, and insurance underwriting. To support the work at the centre, Genpact is upskilling its 125,000-strong workforce. Additionally, it is expected to create new employment opportunities in the UK.

Drawing on Genpact’s deep domain, AI expertise and experience working with clients across several industries, the centre serves to bridge the challenges and opportunities AI brings to businesses. Through case studies and proof of concepts, the co-innovation hub accelerates client projects to a production environment, providing step-by-step guidance and encouraging enterprises to look beyond productivity benefits when integrating the technology into their business.

How can this impact the banking industry?

Santander is an existing partner of Genpact. The company hopes to benefit from this new centre and find ways to leverage AI for improvement. Jas Narang, Chief Transformation Officer and Director of Financial Crime, at Santander UK, said: “As we continuously seek to improve the experience of our customers at Santander, we are exploring how to become a digital-first bank with a human touch. Built on stronger foundations, radically simpler processes and smarter solutions. Partnering with Genpact has helped us to accelerate digital experiences for our key customer journeys and implement smarter ways of working. We are looking at how AI can make further improvements, to scale our business at pace.” 

In 2022, Santander thanked its partnership with Genpact for a 5% rise in customer satisfaction. When looking for a partner for its operational overhaul, Santander selected Genpact. Narang commented: “Genpact’s flexible and dynamic approach set it apart. Other companies seemed to have a pre-existing model or solution that they wanted to shoehorn our operations into. But Genpact listened to what we needed and adapted.” Perhaps the positive reception to this flexibility will attract others in the banking industry towards the new AI Innovation Centre.

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By GlobalData