L&T Technology Services gained over 2% on Monday after announcing a partnership with NVIDIA to develop software-defined architectures for medical devices focused on endoscopy. The collaboration aims to enhance image quality and scalability of products in the medical industry.
The architecture is a scalable platform that supports multiple applications, providing a real-time decision-making tool for the medical industry, as stated in a filing to the stock exchanges by L&T Technology Services. It is proposed as a solution to industry-wide challenges of availability, cost, and dependencies associated with custom and proprietary hardware components.
This architecture includes an image processing pipeline for tasks such as noise reduction, edge and contrast improvement, texture and color enrichment, and speckle correction. Additionally, it integrates Artificial Intelligence/Machine Learning models to detect, identify, and classify polyps, which are abnormal growths often detected during colonoscopies.
The collaboration is anticipated to offer customers a complete solution for transitioning to a software-defined business model through real-time AI applications, as stated by Shanker Trivedi, Senior Vice President of Enterprise Business at NVIDIA.
In a separate development, L&T Technology Services’ Managing Director and CEO, Amit Chadha, revealed plans to recruit 2,000 freshers in the current year. Over 1,000 new hires have already been onboarded, with the remaining expected to join within the next two quarters.
In terms of financial performance, the company reported a 1.4% sequential increase in net profit during the September quarter, with revenue growing by 3.7% compared to the previous quarter.
At 10:33 AM, shares of L&T Technology Services were trading 1.49% higher at ₹4,520 apiece on BSE.