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News from Members Romania Joins Genpact’s Global Network of AI Innovation Centers

Romania Joins Genpact’s Global Network of AI Innovation Centers

by Genpact Romania May 24, 2024

Website www.genpact.com

Genpact (NYSE: G), a global professional services and solutions firm delivering outcomes that shape the future, today unveiled its third Artificial Intelligence (AI) Innovation Center in Bucharest, Romania, a pivotal component of Genpact’s AI-first approach. The centers are a launchpad for innovation, facilitating learning, experimentation, and building AI-focused growth-oriented solutions for Genpact’s global clients.

Genpact’s AI Innovation Center in Bucharest underscores the company’s commitment to nurturing talent in Romania and fostering innovation with clients across key sectors, including supply chain management, finance, customer care, sales, and insurance. The AI Innovation Center will serve as a dedicated space for Genpact 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."

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. The applications include:

  • A generative AI solution for unbilled invoices that has freed up $170 million in cash flow for the client. With complex supply chains, tech distributors can have millions of dollars’ worth of unbilled invoices each month. The platform uses generative AI to provide nearto-real-time information with the status of unbilled invoices to accelerate billing and improving cash flow. It extracts purchase order information and unbilled items from the ERP and cross references them to recommend actions to billing agents.
  • A generative AI solution for the resolution of price claims. Developed for a global consumer goods company, this generative AI solutions tackles the industry-wide challenge of the difference between the price retailers are invoiced for goods and what they were expecting to pay, resulting in delayed cash collection for manufacturers. The solution uses generative AI in the back end of claims to classify data from unstructured sources in different languages to compile all the relevant claim data, 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.

“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.”

Bucharest is home to Genpact's largest delivery center in Europe. The city is rich with talent and a burgeoning tech ecosystem, fostering an entrepreneurial environment conducive to supporting the company's AI-first approach. The company’s employees are highly skilled, having a mindset of continuous learning and experimentation. For example, in 2023, over 1,500 of the 4,000 Romanian based employees completed the AI curriculum available on the company’s learning platform, Genome. By opening this center, the operations teams and local AI experts will work even more closely together to identify and unlock opportunities to generate value for customers.

The center joins the successful Genpact UK and India AI innovation centers, with additional locations slated for launch worldwide in the coming year.

For more information about Genpact's AI capabilities and the AI Innovation Center, please visit: https://www.genpact.com/lp/ai-innovation-centers.

More information about Genpact's AI capabilities is available here.

About Genpact

Genpact (NYSE: G) is a global professional services and solutions firm delivering outcomes that shape the future. Our 125,000+ people across 30+ countries are driven by our innate curiosity, entrepreneurial agility, and desire to create lasting value for clients. Powered by our purpose – the relentless pursuit of a world that works better for people – we serve and transform leading enterprises, including the Fortune Global 500, with our deep business and industry knowledge, digital operations services, and expertise in data, technology, and AI.

Get to know us at genpact.com and on LinkedIn, X, YouTube, and Facebook.

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