L&T Technology Services announced a partnership with NVIDIA to develop software-defined architectures for medical devices focused on endoscopy, resulting in a 2.14% gain in stock price on Monday. This collaboration aims to enhance the image quality and scalability of medical products.
The platform created by L&T Technology Services is scalable and supports multiple applications, making it a real-time decision-making tool for the medical industry. The architecture includes an image processing pipeline that reduces noise, improves edge and contrast, enhances texture and color, and corrects speckles. Additionally, it integrates AI/ML models for detecting, identifying, and classifying polyps commonly found during colonoscopies.
According to Shanker Trivedi, Senior Vice President of Enterprise Business at NVIDIA, this collaboration provides clients with a complete solution for transitioning to a software-defined business model with real-time AI applications. In October, Amit Chadha stated plans to hire 2,000 freshers this year at L&T Technology Services, with over 1,000 already onboard and the remaining 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 after experiencing a rise of 1.49%.