Larsen & Toubro-owned LTIMindtree launched GenAI powered autonomous sourcing platform called Navisource.AI on Monday, which uses AI-driven pricing and negotiation engine to cut overall procurement costs by 10%-15%.
The company said Navisource.AI transforms procurement by channelizing the process of request to risk management. This GenAI-powered platform will integrate with LLM (Large Language Model) and Model Catalogs via Canvas.AI, which enhances the entire workflow of an organization, added the firm.
LTIMindtree also said Navisource.AI is compatible with software like Ariba and SAP S/4HANA, providing comprehensive navigational and decision-making support.
In early December, market analytics firm Moody’s launched an analytical tool powered by generative artificial intelligence (GenAI) called Moody’s Research Assistant to help customers generate and understand from the width and depth of Moody’s credit research, analytics and data.
“With the reliability and trust in AI increasing, we foresee more autonomous AI-driven business processes being orchestrated,” said Vineet Moroney, senior executive at LTIMindtree.
“Navisource.AI will simplify indirect procurement processes, bring predictability, and free up a lot of time spent on manual activities so that procurement functions can focus more on strategic initiatives,” Moroney added.
The Mumbai, India-based technology consulting firm, in November, launched Quantum-Safe Virtual Private Network (VPN) through collaboration with Quantum Xchange and Fortinet, cybersecurity providers, in London, to work towards the era of quantum-secure communications and protect information of its clients.
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