KPIT Technologies is gearing up to launch its proprietary generative artificial intelligence technology in the coming six months, according to the Pune-based automotive software supplier's CEO.
During a post-earnings conference call, KPIT CEO, MD and Co-founder Kishor Patil said the company has already been utilising AI and machine learning (ML) technologies across its practice areas, adding that each practice area had its own approach to problem solving and AI/ML were one of the key tools being used.
Generative AI is a type of artifical intelligence used to create entirely new solutions within a specific field. In the automotive industry, this could mean using AI to design and develop innovative vehicle components or streamline production processes.
Specifically regarding generative AI, Patil noted that KPIT's engineers have a 'deep understanding' of the technology and plan to begin mainstream implementation within the next six months.
This development should be seen in the context of the company reporting a a robust TCV (total contract value) of over $261 million (approx Rs 1957.5 crore) for new engagements in Q4 FY24. The key wins included a major European car manufacturer selecting KPIT for significant projects in electric powertrain and connected car domains.
Additionally, the company secured strategic partnerships with an Asian car manufacturer in connected, autonomous, and middleware domains, and another American car manufacturer for connected, electric, and conventional powertrain solutions.
Furthermore, KPIT announced strategic engagements in the autonomous, electric, and conventional powertrain domains with another leading American car manufacturer, along with key deals in powertrain and vehicle diagnostics for a major American commercial vehicle OEM.