L&T Technology Services experienced a 2% rise in stock prices on Monday following an announcement of a partnership with NVIDIA to develop software-defined architectures for medical devices focused on endoscopy. The collaboration aims to improve image quality and scalability within the medical industry by creating a platform capable of supporting multiple applications and providing real-time decision-making capabilities.
The architecture’s image processing pipeline includes features such as noise reduction, edge and contrast improvement, texture and color enrichment, and speckle correction. Furthermore, the partnership involves the development of Artificial Intelligence/Machine Learning models to detect, identify, and classify polyps during colonoscopies. This solution promises low-latency data transfer and superior image processing without performance bottlenecks, enhancing the overall experience for customers.
According to Shanker Trivedi, Senior Vice President of Enterprise Business at NVIDIA, the collaboration offers a comprehensive solution for companies looking to transition to a software-defined business model through real-time AI applications.
In October, L&T Technology Services revealed its plans to hire 2,000 freshers this year. As of now, over 1,000 new hires have been onboarded, with the remaining set to join in the upcoming quarters. Financially speaking, in the September quarter of FY24, L&T Technology Services reported a sequential increase in net profit by 1.4% and an increase in revenue by 3.7% on a sequential basis. At the time of writing this article, shares of L&T Technology Services were trading 1.49% higher at ₹4