An artificial intelligence (AI)-based business intelligence (BI) solution was introduced by the Indian IT services company HCLTech by utilising Snowflake’s data cloud platform.

The new service, known as HCLTech Advantage Analytics, is an analytics tool based on AI that aims to provide businesses with a variety of services by fusing AI and BI to improve customer experiences and business outcomes.

However, by incorporating AI into BI tools, businesses can quickly view and comprehend the relationships between intricate data structures and derive insightful, practical knowledge from the data they examine.

Shyam Enjeti, Executive Vice President, Digital Business Services, HCLTech, said that HCLTech Advantage Analytics, built on a technology-agnostic platform, seamlessly integrates with Snowflake’s Data Cloud to provide clients with AI-infused analytics that can “enterprises unlock actionable data-driven insights in real-time.”

Therefore, he continued, it can “significantly improve customer experiences while ensuring solution agility and lower cost of ownership”.

According to Sreedhar Bolneni, SI Sales Engineering Leader at Snowflake, “the cutting-edge analytics approach combined with Snowflake’s Data Cloud can help our joint customers revolutionize data consumption to drive data-driven innovation and growth.”

Snowflake’s security features guarantee data security, and its subtle access controls enable effective data access and usage administration.

To speed up search in the Data Cloud through generative AI, the company acquired search startup Neeva. Neeva is a groundbreaking search platform that was co-founded by Sridhar Ramaswamy and Vivek Raghunathan. It uses generative AI and other innovations to give users new ways to query and discover data.

The third-largest IT services company in the nation, HCLTech, released its June quarter results on Wednesday. The company reported a revenue of 26,296 crore for Q1FY24, an increase of 12.1% year over year (YoY), but a decrease of 1.2% sequentially. Net profit for the company increased 7.6% YoY to 3,534 crore.

The business claimed to be placing a strong emphasis on artificial intelligence (AI), particularly generative AI. More than 70 projects, including ones in education, applications, system and product engineering, infrastructure and operations, and software products, are said to be in various stages of development at HCLTech. More than 20,000 employees are receiving generative AI training from the company.

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