HCL Technologies Forges Strategic Partnership with AWS for GenAI-led Digital Transformation

On May 6, 2024, HCL Technologies Limited informed the stock exchanges that the company had entered into a strategic partnership agreement with Amazon Web Services (AWS) to accelerate GenAI-led enterprise digital transformation.

The company stated that, together with AWS, it will assist companies in analysing and developing GenAI-led use cases, proofs of concept, tools, and solutions. They will develop a structural framework with target-based milestones in line with a business strategy that allows the co-creation of customised GenAI-led solutions and provides clients with flexible consumption models.

HCLTech and AWS will work together to execute AWS GenAI services, such as Amazon CodeWhisperer, Amazon Bedrock, Amazon Titan and Amazon SageMaker, for enterprises across various industries, accelerating their digital transformation journeys. Leveraging HCLTech’s full technology stack, core engineering capabilities and AI experience, this partnership will allow clients to see the impact of their GenAI investment and gain early access to AWS’s advanced GenAI services.

The Senior Vice President and AWS Global Head of HCLTech, Prabhakar Appana, said, “This strategic collaboration agreement seeks to help enterprises unlock the value of GenAI by empowering them to reshape business models, elevate customer experiences and foster growth. A premier partner with a diverse range of AWS competencies, we are committed to accelerating the widespread adoption of AI to our global client base,”

HCLTech recently acquired the AWS Generative AI Competency Partner status to complement AWS’s advanced GenAI portfolio with its innovative GenAI solutions spanning diverse industries and enterprise functions. HCLTech provides distinctive end-to-end AI capabilities, from chip development to business process optimisation. By teaming up with AWS and other partners, HCLTech is making it easier for different industries to use advanced AI technologies.

About HCL Technologies Limited

HCL Technologies is one of the leading IT services companies in the world. The company offers services to various industries, such as financial services, life sciences and healthcare, manufacturing, technology and services, media, telecom, CPG, and more.

On May 6, 2024, the share price of HCL Technologies Ltd opened at ₹1,358.00, touching the day’s high at ₹1,365.00, as of 12:45 PM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.