On Monday, L&T Technology Services experienced a significant gain of over 2% after announcing a partnership with NVIDIA to develop software-defined architectures for medical devices focused on endoscopy. This collaboration aims to enhance the image quality and scalability of medical products.
L&T Technology Services has developed a scalable platform that supports multiple applications and serves as a real-time decision-making tool for the medical industry. This platform addresses challenges related to availability, cost, and dependency on custom and proprietary hardware components. The architecture includes an image processing pipeline that reduces noise, improves edge and contrast, enhances texture and color, and corrects speckles. Additionally, it integrates Artificial Intelligence/Machine Learning models for detecting, identifying, and classifying polyps commonly found during colonoscopies.
Shanker Trivedi, Senior Vice President of Enterprise Business at NVIDIA, expressed that the collaboration offers a complete solution for clients seeking to transition to a software-defined business model with real-time AI applications. In October, Amit Chadha, the Managing Director and CEO of L&T Technology Services, mentioned plans to hire 2,000 freshers this year, with over 1,000 already onboard and the remainder expected to join in the next two quarters. The company reported a 1.4% sequential increase in net profit and a 3.7% sequential growth in revenue for the September quarter of FY24.
At 10:33 AM on BSE, shares of L&T Technology Services were trading at ₹4520 apiece with an increase of 1.49%.