In an interview with NDTV Profit, Krishnan Venkatachary, CFO at Cigniti Technologies discusses the company’s Q3FY24 performance and business outlook.
Consolidated Revenue Rs. 468.02 crores and Net Profit Rs.48.04 Cr
Standalone Revenue Rs. 202.86 crores and Net Profit Rs. 29.50 Cr
Consolidated Financial Performance for Q3YF24 v/s Q3FY23 (Corresponding Year)
Consolidated Financial Performance for Q3FY24 v/s Q2FY24 (Sequential Quarter)
Consolidated Financial Performance for 9M FY24 v/s 9M FY23 (Corresponding Quarter)
One phenomenon that knocked the wind out of everyone’s lungs in 2023 was artificial intelligence! Right from chatbots to AI tools for video and content creation, it has caught everyone’s fancy.
India wasn't far behind, as several companies and apps mushroomed, reflecting the global scenario. A NASSCOM report shows that more than 60 Indian startups started shop in April and June 2023. The optimism surrounding AI has rubbed off on investors, too.
NASSCOM’s India Data Science & AI Skills Report shows spending on AI in India topped $3 billion in 2022 and is expected to jump to $4.2 billion by 2024.
Hyderabad, 29th Dec: Cigniti Technologies, the world’s leading AI & IP-led Digital Assurance and Digital Engineering services company inaugurated a new Offshore Delivery Centre (ODC) in the International Tech Park, Hyderabad. The facility was inaugurated by Mr. C V Subramanyam, Chairman, and Mr. Srikanth Chakkilam, CEO of Cigniti.
The newly inaugurated office space of around 40,000 sq. ft accommodates 400 professionals adding to the current 2 lakh sq. ft. The ODC is equipped with two state-of-the-art training centers that foster continuous learning and innovation. In the near future, Cigniti plans to add a digital experience center in the newly inaugurated facility.
Speaking on the occasion, Mr. Srikanth Chakkilam, CEO of Cigniti Technologies stated, "As we step into a new year, the inauguration of our ODC symbolizes the beginning of a chapter filled with possibilities and opportunities. This expansion not only amplifies our capabilities but also underscores our commitment to providing a world-class work environment for our employees. With additional space, advanced facilities, and enhanced infrastructure, we are poised to elevate the employee experience, fostering collaboration and innovation."
About Cigniti Technologies
Cigniti Technologies Limited (NSE: CIGNITITEC; BSE: 534758) is the world’s leading AI & IP-led Digital Assurance and Digital Engineering Services Company. 4200+ Cignitians worldwide help Fortune 500 & Global 2000 enterprises across 25 countries accelerate their digital transformation journey across various stages of digital adoption and help them achieve market leadership by providing transformation services leveraging IP and platform-led innovation with expertise across multiple verticals and domains. Our industry-leading digital assurance and AI-led digital engineering services are helping global customers with measurable outcomes, millions of dollars of savings, and significant ROI. We are headquartered in Hyderabad, India, with global offices spread across the USA, Canada, UK, UAE, Australia, South Africa, the Czech Republic, and Singapore. To learn more, visit www.cigniti.com.
For media inquiries, please contact:
Midhun Pingili, AVP – Marketing | +91 8886093093 | mediarelations@cigniti.com
Hyderabad, 29th Dec: Cigniti Technologies, the world’s leading AI & IP-led Digital Assurance and Digital Engineering services company inaugurated a new Offshore Delivery Centre (ODC) in the International Tech Park, Hyderabad. The facility was inaugurated by Mr. C V Subramanyam, Chairman, and Mr. Srikanth Chakkilam, CEO of Cigniti.
The newly inaugurated office space of around 40,000 sq. ft accommodates 400 professionals adding to the current 2 lakh sq. ft. The ODC is equipped with two state-of-the-art training centers that foster continuous learning and innovation. In the near future, Cigniti plans to add a digital experience center in the newly inaugurated facility.
Speaking on the occasion, Mr. Srikanth Chakkilam, CEO of Cigniti Technologies stated, "As we step into a new year, the inauguration of our ODC symbolizes the beginning of a chapter filled with possibilities and opportunities. This expansion not only amplifies our capabilities but also underscores our commitment to providing a world-class work environment for our employees. With additional space, advanced facilities, and enhanced infrastructure, we are poised to elevate the employee experience, fostering collaboration and innovation."
In the diverse landscape of technology, the integration of Artificial Intelligence (AI) is reshaping various aspects of software development, with software testing being at the center of transformation. Traditionally viewed as a meticulous and time-intensive process, software testing is undergoing a paradigm shift propelled by the evolving role of AI. Let’s explore the opportunities and challenges present in incorporating AI into software testing, uncovering how it optimizes test coverage and efficiency.
Unleashing Predictive Analytics
One of the most exciting possibilities of AI in software testing is its capacity to harness predictive analytics. By scrutinizing historical data, AI algorithms can predict potential risk areas, empowering testing teams to focus strategically on their efforts.
Dallas, 06th Dec: Cigniti Technologies, the world’s leading AI & IP-led Digital Assurance and Digital Engineering services company is positioned as a Major Player in IDC MarketScape: Worldwide Software Engineering Services 2023 Vendor Assessment (doc #US51330523, November 2023).
The IDC MarketScape study states that enterprises are increasingly partnering with software engineering services providers as software continues to permeate every aspect of product and operations transformation. Every stage of the software product or platform development life cycle is getting modernized by leveraging cloud, generative AI/ML (machine learning), analytics, and new software methodologies such as Agile, microservices, continuous integration/continuous delivery (CI/CD), docker, Kubernetes, and containerization.
According to the report, “Cigniti’s customers rated the company highly for its innovative services delivery and its ability to communicate the value of its software engineering services and how it positively impacts their business. IDC rated Cigniti highly for its strategy to strengthen its services across each ISV, software platforms, and custom software product development services capabilities. Cigniti’s customers were appreciative of its ability to offer the full life cycle of services, which included business problem understanding, design thinking, and software engineering services.”
Dallas, 06th Dec: Cigniti Technologies, the world’s leading AI & IP-led Digital Assurance and Digital Engineering services company is positioned as a Major Player in IDC MarketScape: Worldwide Software Engineering Services 2023 Vendor Assessment (doc #US51330523, November 2023).
The IDC MarketScape study states that enterprises are increasingly partnering with software engineering services providers as software continues to permeate every aspect of product and operations transformation. Every stage of the software product or platform development life cycle is getting modernized by leveraging cloud, generative AI/ML (machine learning), analytics, and new software methodologies such as Agile, microservices, continuous integration/continuous delivery (CI/CD), docker, Kubernetes, and containerization.
According to the report, “Cigniti’s customers rated the company highly for its innovative services delivery and its ability to communicate the value of its software engineering services and how it positively impacts their business. IDC rated Cigniti highly for its strategy to strengthen its services across each ISV, software platforms, and custom software product development services capabilities. Cigniti’s customers were appreciative of its ability to offer the full life cycle of services, which included business problem understanding, design thinking, and software engineering services.”
According to the author Mukesh Dialani, Research VP, Digital Engineering and OT Services at IDC, “Customers expect the provider to bring talent that demonstrates high quality of skills, insights, and knowledge for software engineering, how the partner helps them achieve the desired business priorities and KPI’s (key performance indicators), security and governance skills, capability related to data, analytics and cloud for software engineering and finally their flexibility in pricing and contracting models. Those providers that excel in these leading customer expectations will see higher growth in their software engineering services business.”
Commenting on this recognition, Srikanth Chakkilam, CEO of Cigniti Technologies, stated, "We believe this acknowledgment from the IDC MarketScape reflects the trust our customers place in us and also our ability to positively impact their businesses throughout the entire software development life cycle. Having helped numerous Fortune 500 and Global 2000 companies in assuring digital experiences to their end customers in the Quality Engineering space, this recognition strengthens our capacity of up-selling and cross-selling our Software Engineering capabilities.”
Sairam Vedam, CMO of Cigniti Technologies, added, “We believe Cigniti stands at the forefront of the digital evolution and this recognition from the IDC MarketScape further strengthens our foray into Digital Engineering Services, as we continue to provide innovative solutions and pushing the boundaries of excellence in the ever-evolving landscape of software development and technology integration."
For more information about Cigniti's recognition as a Major Player in the IDC MarketScape report, access the report here.
About IDC MarketScape:
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
About Cigniti Technologies
Cigniti Technologies Limited (NSE: CIGNITITEC; BSE: 534758) is the world’s leading AI & IP-led Digital Assurance and Digital Engineering Services Company. 4200+ Cignitians worldwide help Fortune 500 & Global 2000 enterprises across 25 countries accelerate their digital transformation journey across various stages of digital adoption and help them achieve market leadership by providing transformation services leveraging IP and platform-led innovation with expertise across multiple verticals and domains. Our industry-leading digital assurance and AI-led digital engineering services are helping global customers with measurable outcomes, millions of dollars of savings, and significant ROI. We are headquartered in Hyderabad, India, with global offices spread across the USA, Canada, UK, UAE,
For media inquiries, please contact:
Midhun Pingili, AVP – Marketing | +91 8886093093 | Midhun.pingili@cigniti.com
India is at a pivotal juncture in a rapidly advancing tech world. The nation’s economic, social, and political fabric is woven into cyberspace, manifesting a digital-centric existence. While this digital revolution opens a plethora of opportunities, it also exposes India to a host of vulnerabilities.
India has made significant strides, from widespread adoption of e-governance to the thriving e-commerce ecosystem. The “Digital India” campaign, a flagship government initiative, has played a pivotal role in this transformation.
26th October, Hyderabad, India: Cigniti Technologies, the world's leading AI & IP-led Digital Assurance and Digital Engineering services company, is honored to receive the ISG Case Study Standout Award in the Education category for its AI/ML decision-making predictive model work for Adelphoi, a leading non-profit organization based in the US.
ISG Case Study Standouts—an evolution of the ISG Digital Case Study Awards program—recognize the best-in-class work of service providers in collaboration with enterprise clients. Companies worldwide submitted their case studies, which underwent validation by the client organization and ISG digital researchers, resulting in a selection based on a comprehensive analysis of the real-world effects of digital transformation on the client's business and the distinctiveness of the provider's solutions.
Adelphoi is a non-profit organization that provides outcome-based solutions for neglected, delinquent, abused, and other at-risk children and their families, combining treatment and mental health services. Cigniti's case study recognition for Adelphoi is for its AI/ML decision-making predictive model that leveraged historical data to recommend the most suitable treatment program for each child, enhancing overall care and minimizing the percentage of 'return to care.'
"The accelerated adoption of digital technologies and business models was strongly evident in the case studies we received this year," said Paul Reynolds, ISG partner and chief research officer. "The Cigniti Technologies case study with Adelphoi is a standout example of how AI/ML can be a differentiator to accelerate product development and attain first-mover advantage in a new and unexplored market."
Commenting on this recognition, Srikanth Chakkilam, CEO of Cigniti Technologies, stated, "We are happy to receive the ISG Case Study Standout award for Cigniti's expertise in operationalizing data to build a reliable and validated model for Adelphoi. This case study is a classic example of leveraging Technology for Good. AI/ML is experiencing an unprecedented boom, transforming how businesses operate, and this recognition underscores Cigniti's position as the frontrunner in harnessing the power of AI/ML for tangible, real-world results. At Cigniti, we offer transformative solutions that bridge the gap between cutting-edge technology and real-world impact. This accolade reflects Cigniti's unwavering commitment to innovation and excellence in leveraging technology for positive change to all our global clients."
Mark Mortimer, COO of Adelphoi, commented, "We are thrilled to have collaborated with Cigniti Technologies on this ground-breaking project. Their dedication, expertise, and unwavering commitment to excellence have culminated in a transformative predictive analytics software model. This software will reduce treatment time and improve outcomes for countless youth in the child welfare and juvenile justice systems."
To read the case study, click here.
About Cigniti Technologies
Cigniti Technologies Limited (NSE: CIGNITITEC; BSE: 534758) is the world's leading AI & IP-led Digital Assurance and Digital Engineering Services Company. 4200+ Cignitians worldwide help Fortune 500 & Global 2000 enterprises across 25 countries accelerate their digital transformation journey across various stages of digital adoption and help them achieve market leadership by providing transformation services leveraging IP and platform-led innovation with expertise across multiple verticals and domains. Our industry-leading digital assurance and AI-led digital engineering services are helping global customers with measurable outcomes, millions of dollars of savings, and significant ROI. We are headquartered in Hyderabad, India, with global offices spread across the USA, Canada, UK, UAE, Australia, South Africa, Czech Republic, and Singapore.
For media inquiries, please contact:
Midhun Pingili, AVP – Marketing | +91 8886093093 | Midhun.pingili@cigniti.com
London, 5th October: Cigniti Technologies Limited, the world’s leading AI & IP-led Digital Assurance and Digital Engineering Services company, has achieved the Trusted Information Security Assessment Exchange (TISAX) Label 2 Certification with Maturity Level 3 for its Digital Assurance and Quality Engineering Services in the India and Europe regions in the Automotive Industry.
TISAX is an association of leading German automakers and their top suppliers, aiming to safeguard intellectual property, ensure security, and uphold privacy regulations throughout the automotive supply chain. ENX, a renowned German association, issues this globally recognized certification.
Srikanth Chakkilam, CEO and Director, Cigniti Technologies Inc stated “ The automotive industry is one of the most targeted sectors for cyberattacks, with an average of 270 attacks per organization per day in 2022 according to recent reports. In light of these risks, it is more important than ever for automotive suppliers to implement robust cybersecurity measures. This recognition underscores our commitment to delivering the highest standards of quality and security in our Digital Assurance and Quality Engineering services to our global clients. At Cigniti, we remain committed to delivering excellence, and together with our clients, we will continue to drive innovation and secure success in an increasingly interconnected world.”
Commenting on the achievement, Cigniti’s Chief Delivery Officer, Raghu Krovvidy stated "As the automotive industry races towards a future defined by innovation and digital transformation, cybersecurity stands as the cornerstone of trust and reliability. The mandate for TISAX certification echoes the industry's commitment to safeguarding critical data and ensuring the resilience of our interconnected ecosystem. Cigniti’s achievement of the esteemed TISAX Label 2 Certification with Maturity Level 3 is a testament to our unwavering dedication to security excellence. This milestone propels us into the role of a trusted partner for manufacturers, OEMs, and global automotive clients, empowering them to accelerate their digital journeys with confidence and assurance."
About Cigniti Technologies:
Cigniti Technologies Limited (NSE: CIGNITITEC; BSE: 534758) is the world's leading AI & IP-led Digital Assurance and Digital Engineering services company. 4200+ Cignitians worldwide help Fortune 500 & Global 2000 enterprises across 25 countries accelerate their digital transformation journey across various stages of digital adoption and help them achieve market leadership by providing transformation services leveraging IP & platform-led innovation with expertise across multiple verticals and domains. Our industry-leading Digital Assurance and AI-led Digital Engineering services are helping global customers with measurable outcomes, millions of dollars of savings, and significant ROI. We are headquartered in Hyderabad, India, with global offices spread across the USA, Canada, UK, UAE, Australia, South Africa, Czech Republic, Singapore, and Costa Rica. To know more about Cigniti, visit: www.cigniti.com
For media inquiries, please contact:
Midhun Pingili
AVP – Marketing
+91 8886093093
Midhun.pingili@cigniti.com
Dallas, 28 August 2023 - Cigniti Technologies, the world's leading AI & IP-led Digital Assurance and Digital Engineering services company, has been recognized as a Contender in Digital Innovation Services and Managed Services categories in the US and Europe regions in the ISG Provider Lens™ Retail & CPG Services 2023 Study.
The study evaluates service providers based on their ability to address the unique challenges and opportunities faced by organizations within the Retail & CPG sector.
Philip Carnelley, Lead Analyst from ISG, said, "Cigniti’s capabilities in Digital Engineering and Digital Assurance make it a contender for large and medium-sized US and European Retail/CPG companies to consider for their digital innovation journeys. Notable capabilities include innovations in domain-specific use cases around Computer Vision, Robotics, and Data Engineering alongside considerable strength in Managed Services, especially in the testing arena, combined with experience in all the major applications software suppliers.”
Srikanth Chakkilam, CEO of Cigniti Technologies, stated, "Being acknowledged by ISG as a contender in the Digital Innovation Services and Managed Services showcases our commitment to solidify our retail presence while expanding into other promising areas. The new digital technological advancements are transforming the retail customer experience, leading to substantial investments in this area. Retail remains one of our top revenue-generating verticals, constituting over 23% of our revenue. Throughout our journey, we have collaborated with Global 2000 and Fortune 500 Retail and CPG companies delivering Digital assurance services. This recognition motivates us to have deeper conversations with our customers to understand and accelerate their digital journeys.”
Sairam Vedam, CMO of Cigniti Technologies, added, "Cigniti's recognition as a Contender in Digital Innovation Services and Managed Services by ISG in the US and Europe regions underscores our commitment to driving transformative solutions. We take pride in our AI & IP-led approach, which empowers Retail & CPG companies with cutting-edge Digital Engineering and Digital Assurance capabilities to enhance customer experiences and contribute to the success of businesses in the retail and CPG sectors. Our expertise in emerging technologies such as Computer Vision, Robotics, Data Engineering, and more positions us as a valuable partner for organizations seeking innovation and excellence in this dynamic sector.”
To view the charts, click here.
For media inquiries, please contact:
Midhun Pingili
Sr. Director, Marketing
+91 8886093093
Midhun.pingili@cigniti.com
Dallas, 28 August 2023 - Cigniti Technologies, the world's leading AI & IP-led Digital Assurance and Digital Engineering services company, has been recognized as a Contender in Digital Innovation Services and Managed Services categories in the US and Europe regions in the ISG Provider Lens™ Retail & CPG Services 2023 Study.
The study evaluates service providers based on their ability to address the unique challenges and opportunities faced by organizations within the Retail & CPG sector.
Philip Carnelley, Lead Analyst from ISG, said, "Cigniti’s capabilities in Digital Engineering and Digital Assurance make it a contender for large and medium-sized US and European Retail/CPG companies to consider for their digital innovation journeys. Notable capabilities include innovations in domain-specific use cases around Computer Vision, Robotics, and Data Engineering alongside considerable strength in Managed Services, especially in the testing arena, combined with experience in all the major applications software suppliers.”
Srikanth Chakkilam, CEO of Cigniti Technologies, stated, "Being acknowledged by ISG as a contender in the Digital Innovation Services and Managed Services showcases our commitment to solidify our retail presence while expanding into other promising areas. The new digital technological advancements are transforming the retail customer experience, leading to substantial investments in this area. Retail remains one of our top revenue-generating verticals, constituting over 23% of our revenue. Throughout our journey, we have collaborated with Global 2000 and Fortune 500 Retail and CPG companies delivering Digital assurance services. This recognition motivates us to have deeper conversations with our customers to understand and accelerate their digital journeys.”
Sairam Vedam, CMO of Cigniti Technologies, added, "Cigniti's recognition as a Contender in Digital Innovation Services and Managed Services by ISG in the US and Europe regions underscores our commitment to driving transformative solutions. We take pride in our AI & IP-led approach, which empowers Retail & CPG companies with cutting-edge Digital Engineering and Digital Assurance capabilities to enhance customer experiences and contribute to the success of businesses in the retail and CPG sectors. Our expertise in emerging technologies such as Computer Vision, Robotics, Data Engineering, and more positions us as a valuable partner for organizations seeking innovation and excellence in this dynamic sector.”
To view the charts, click here.
In an interview with CNBC TV 18, Krishnan Venkatachary, CFO at Cigniti Technologies discusses the company’s overall business performance and outlook.
In an interview with CNBC Bajar, Krishnan Venkatachary, CFO at Cigniti Technologies discusses Q1FY24 performance & business outlook.
Consolidated Revenue Rs. 439.53 crores and Net Profit Rs. 44.56 Cr
Standalone Revenue Rs. 190.30 crores and Net Profit Rs. 27.16 Cr
Consolidated Financial Performance for Q1YF24 v/s Q1FY23 (Corresponding Year)
Consolidated Financial Performance for Q1FY24 v/s Q4FY23 (Sequential Quarter)
Hyderabad, 28th July 2023: Cigniti Technologies Limited, the world’s leading AI & IP-led Digital Assurance and Digital Engineering services company, announced the consolidated financial results for the quarter ended June 30, 2023.
For the quarter under consideration, the company's consolidated revenue from operations stood at Rs. 439.53 crore as against Rs. 424.97 crore in Q4FY23.
EBITDA margin for the June quarter is at 14.1% and stood at Rs. 62.07 crore as against Rs. 68.37 crore in Q4FY23.
The company’s reported Net Profit for Q1FY24 stood at Rs.44.56 crore as against Rs. 49.24 crore in Q4FY23.
Commenting on the results, Mr. Srikanth Chakkilam, Chief Executive Officer, said, "We have achieved a reasonable performance in Q1FY24 given the headwinds in the economy. We continue to observe the environment cautiously and work towards achieving sustainable growth in the coming quarters.
During the quarter, the Company has made inroads into the digital engineering space with its top 50 clients. The company is confident that its relentless focus on delivering high-quality solutions to its clients, along with innovative service offerings, shall result in enhanced performance."
Highlights for the quarter ended June 30, 2023:
Furthermore, we take immense pride in the recent acknowledgments we have received.
About Cigniti Technologies Limited:
Cigniti Technologies Limited (NSE: CIGNITITEC; BSE: 534758) is the world’s leading AI & IP-led Digital Assurance and Digital Engineering services company. Headquartered in Hyderabad, India, Cigniti’s 4200+ employees help Fortune 500 and Global 2000 enterprises across 25 countries accelerate their digital transformation journey across various stages of digital adoption and help them achieve market leadership by providing transformation services leveraging IP and platform-led innovation with expertise across multiple verticals and domains. To learn more, visit www.cigniti.com.
For further information, please contact:
Gaurangi Veshvikar
Adfactors PR
Mob: +91 9321923248
Email: gaurangi.veshvikar@adfactorspr.com
Midhun Pingili
Cigniti Technologies
Mob: +91 8886093093
Email: midhun.pingili@cigniti.com
Dallas, July 25, 2023 - Cigniti Technologies, the world's leading AI & IP-led Digital Assurance and Digital Engineering services company, is delighted to announce that for the first time that its IP, ZastraTM, has been recognized as one of the notable vendors in Forrester's report titled "The Computer Vision Tools Landscape, Q2 2023."
Zastra™, Cigniti’s Computer Vision (CV) Platform offering is identified in the report as a general purpose foundation, built to be extensible, that can be used to build any type of application. As an Enterprise-grade Annotation & Collaboration Platform for Digital Engineering services, ZastraTM employs advanced Active Learning techniques, reducing annotation efforts by up to 70% while ensuring top-notch detection, classification, and segmentation of image and video datasets.
The report states that “Computer vision technologies are still evolving — with advances in modeling, data labeling, and tool development continuing to push this space forward decades after its first emergence. CV tools can offer state-of-the-art technologies and provide use-case-specific functions that make pervasive AI possible. Hyperscalers are promoting computer vision services as an extension of their AI/ML platforms. Pure-play vendors have prioritized verticals and are expanding coverage to more types of customers. Tech leaders and business professionals will face a plethora of vendor options and should pay attention to the market dynamics”
Srikanth Chakkilam, Chief Executive Officer, Cigniti Technologies, said, "According to recent reports, the majority of companies with data and analytics decision-makers who are adopting AI technologies are planning to boost their investments in computer and machine vision in the upcoming year. From enhancing medical diagnoses to improving quality control in manufacturing, Computer Vision is transforming operations and unlocking new opportunities across industries. For us, this recognition further bolsters ZastraTM’s industry-proven capabilities as a computer vision tool that helps global organizations harness the power of AI in their digital transformation journeys.”
Sairam Vedam, Chief Marketing Officer at Cigniti Technologies, added, “The recognition of ZastraTM in Forrester's report is, in our opinion, a testament to the company's expertise in computer vision and its commitment to delivering innovative solutions. ZastraTM empowers organizations to enhance visual analysis and optimize various computer vision use cases through its comprehensive suite of tools, frameworks, and methodologies. We are proud to contribute to the future of computer vision and remain committed to driving innovation in the Digital Assurance and Digital Engineering space and be at the frontiers of an AI-led future.”
Forrester defines Computer Vision tools as "Software tools, software development kits (SDKs), and platforms that assist in both the development and deployment of computer vision models for multiple enterprise-level use cases. They include tools for data ingestion, data augmentation, model training, testing, and/or deployment."
Access the full report here.
About Cigniti Technologies:
Cigniti Technologies Limited (NSE: CIGNITITEC; BSE: 534758) is the World's Leading AI & IP-led Digital Assurance and Digital Engineering Services Company. 4200+ Cignitians worldwide help Fortune 500 & Global 2000 enterprises across 24 countries accelerate their digital transformation journey across various stages of digital adoption and help them achieve market leadership by providing transformation services leveraging IP & Platform-led innovation with expertise across multiple verticals and domains. Our industry-leading digital assurance and AI-led digital engineering services are helping global customers with measurable outcomes, millions of dollars of savings, and significant ROI. We are headquartered in Hyderabad, India, with global offices spread across the USA, Canada, UK, UAE, Australia, South Africa, Czech Republic, and Singapore. To know more about Cigniti, visit: www.cigniti.com
For media inquiries, please contact:
Midhun Pingili
Sr. Director, Marketing
+91 8886093093
Midhun.pingili@cigniti.com
In an interview with CNBC TV18, Krishnan Venkatachary, CFO at Cigniti Technologies discusses Q1 performance & FY2024 outlook.
Dallas, July 25, 2023 - Cigniti Technologies, the world's leading AI & IP-led Digital Assurance and Digital Engineering services company, is delighted to announce that for the first time that its IP, ZastraTM, has been recognized as one of the notable vendors in Forrester's report titled "The Computer Vision Tools Landscape, Q2 2023."
Zastra™, Cigniti’s Computer Vision (CV) Platform offering is identified in the report as a general purpose foundation, built to be extensible, that can be used to build any type of application. As an Enterprise-grade Annotation & Collaboration Platform for Digital Engineering services, ZastraTM employs advanced Active Learning techniques, reducing annotation efforts by up to 70% while ensuring top-notch detection, classification, and segmentation of image and video datasets.
The report states that “Computer vision technologies are still evolving — with advances in modeling, data labeling, and tool development continuing to push this space forward decades after its first emergence. CV tools can offer state-of-the-art technologies and provide use-case-specific functions that make pervasive AI possible. Hyperscalers are promoting computer vision services as an extension of their AI/ML platforms. Pure-play vendors have prioritized verticals and are expanding coverage to more types of customers. Tech leaders and business professionals will face a plethora of vendor options and should pay attention to the market dynamics”
Artificial intelligence (AI) is rapidly changing the world of work. Many tasks that humans once performed are now being automated by AI systems. There are growing concerns that AI might lead to job losses. However, there is also a growing recognition that AI will create new jobs requiring different skills than those currently in demand. While AI excels in efficiency and automation, it often lacks the necessary human touch for emotional understanding, creativity, and complex problem-solving.
