L&T Technology Services experienced a 2% increase in share price on Monday after announcing a partnership with NVIDIA to develop software-defined architectures for medical devices focused on endoscopy. The collaboration aims to enhance the image quality and scalability of products within the medical industry.
The architecture is designed to be a scalable platform that supports multiple applications and provides real-time decision-making capabilities. This addresses industry challenges related to availability, cost, and dependencies associated with custom and proprietary hardware components. L&T Technology Services highlighted the architecture’s image processing pipeline, which includes features for noise reduction, edge and contrast improvement, texture and color enrichment, and speckle correction.
The partnership also involves the development of Artificial Intelligence/Machine Learning models to detect, identify, and classify polyps during colonoscopies. The solution aims to provide low-latency data transfer and superior image processing without performance bottlenecks, enhancing the overall customer experience.
Shanker Trivedi, Senior Vice President of Enterprise Business at NVIDIA, emphasized that the collaboration offers a comprehensive solution for customers seeking to transition to a software-defined business model through real-time AI applications.
In October, Amit Chadha revealed that L&T Technology Services plans to recruit 2,000 freshers this year. Over 1,000 new hires have already been onboarded, with the remaining set to join in the upcoming quarters.
Financially, in the September quarter of FY24, L&T Technology Services reported a 1.4% sequential increase in net profit and a 3.7% rise in revenue on a sequential basis. At the time of writing this article, shares of L&T Technology Services were trading 1.49% higher at ₹4520 apiece on BSE.