Genpact chooses Bucharest for its third AI Innovation Center
Genpact, a global professional services and solutions firm, unveiled its third Artificial Intelligence (AI) Innovation Center in Bucharest, Romania, a pivotal component of Genpact’s AI-first approach. According to the company, the centers are launchpads for innovation, facilitating learning and experimentation, and building AI-focused growth-oriented solutions.
Genpact’s AI Innovation Center in Bucharest will serve as a dedicated space for experts and clients to explore ways to reinvent their businesses with AI capabilities and solutions. Clients will gain wider access to Genpact’s deep business knowledge and data, technology, and AI expertise, as well as industry and technology partnerships.
“This AI Innovation Center provides clients and partners with a collaborative arena to reimagine their businesses alongside Genpact's AI experts,” said Marina Vernetti, Chief Operations Officer, EMEA, Genpact. “Our innovative partnership model represents a paradigm shift in client collaboration, as we believe that mutual investment leads to mutual success. By closely collaborating with our clients, we unlock the power of collective innovation and can work together to implement solutions that generate real value,” she added.
From proof of concept to live implementation, the AI Innovation Center will accelerate client AI solutions. Genpact will work closely with clients to provide support throughout the entire development process. At the inauguration, Genpact’s AI experts from Romania, who play a fundamental role in bringing solutions into production, showcased four innovative applications that have demonstrated exceptional performance, driving results that can be scaled across other industries.
One of the applications is a generative AI solution for unbilled invoices that has freed up USD 170 million in cash flow for the client. According to Genpact, tech distributors can have millions of dollars’ worth of unbilled invoices each month. The platform uses generative AI to provide near-to-real-time information on the status of unbilled invoices to accelerate billing and improve cash flow. It extracts purchase order information and unbilled items from the ERP and cross-references them to recommend actions to billing agents.
Another area where Genpact brings generative AI is the resolution of price claims. Developed for a global consumer goods company, this solution works in the back end of claims to compile and classify all the relevant claim data. It then compares it to price structures to see whether the claim is valid. The application, which has already improved cash flow by millions of dollars, has the potential to free up billions across Genpact’s consumer goods client base, according to the company.
“By opening this AI Innovation Center, we are creating a strong foundation to increase value for our customers by fostering our highly skilled workforce in Romania,” said Alexandru Stoenescu, Country Leader Romania, Genpact. “Genpact offers our employees a comprehensive learning curriculum that includes generative AI, data literacy, data visualization, and cloud computing courses. By fostering an environment of learning and experimentation, the AI Innovation Center will encourage our employees to push the boundaries of innovation with Genpact’s AI experts,” he concluded.
Bucharest is home to Genpact's largest delivery center in Europe. In 2023, over 1,500 of the 4,000 Romanian-based employees completed the AI curriculum available on the company’s learning platform, Genome. The center joins the successful Genpact UK and India AI innovation centers, with additional locations slated for launch worldwide in the coming year.
(Photo source: Genpact)
