India, November 06, 2023: Happiest Minds Technologies Limited (NSE: HAPPSTMNDS), a ‘Born Digital. Born Agile’, Mindful IT Company, has made a noteworthy advancement in the field of artificial intelligence (AI) with the development of a cutting-edge business unit for Generative AI, called Generative AI Business Services (GBS). This new unit will provide comprehensive Generative AI solutions across various sectors. Sridhar Mantha, who presently holds the position of EVP & CTO within the company, has been appointed as the President & CEO of GBS, effective immediately. He will report directly to Rajiv Shah, a member of the Executive Board.

From its inception, Happiest Minds Technologies has been a trailblazer in AI innovation, consistently offering invaluable technology solutions to its clients. Their recent initiatives span a wide spectrum of support, ranging from consultancy on Generative AI domain challenges to model development and comprehensive solutions.

Ashok Soota, Chairman of Happiest Minds, said, “We intend to leverage the tremendous opportunity and growth potential in the Generative AI space, in line with the digital focus and dedication to AI that have been cornerstones of Happiest Minds Technologies since inception. With the establishment of a focused business unit for Generative AI, we are taking a step that none of our peers in the IT Services sector have taken. Given the rapid pace of evolution in the Generative AI space, we decided it would be beneficial for our Group CTO, Sridhar Mantha, to take charge of the new unit and leverage the synergies of other digital technologies. The dedication of the proven senior leadership to the unit, including Sridhar and our Executive Board Member Rajiv Shah, demonstrates our commitment as an organization to this endeavor. Further, Rajiv will leverage the combined power of our Analytics CoE led by Sundar Ramaswamy and Generative AI BU led by Sridhar, for serving our customers with holistic solutions.” 

Rajiv Shah, Executive Board Member, Happiest Minds said, “This new dedicated unit is the next step in our ongoing Generative AI journey. We endeavor to train all 5000+ of our Happiest Minds on the relevant aspects of Generative AI, like code assistance, and leverage the technology for all our internal functions. Moreover, in addition to working with Microsoft and OpenAI, we are also focused on strengthening our technology prowess on Google, AWS, and other key platforms in the ecosystem. We understand the importance of data & content and hybrid AI & Generative AI solutions. We foresee that Generative AI can be a significant revenue source for us in the years ahead and help us reach our vision of becoming a billion-dollar enterprise by 2031.”

 Sridhar Mantha, President & CEO, Generative AI Business Services, Happiest Minds said, “So far, we have developed over 120 use cases spanning various domains and creating tailored Generative AI solutions for more than 20 customers. As an industry, we are just seeing the tip of the iceberg regarding Generative AI technology, with the current focus on text based LLM’s (Large Language Models). Over the next 2-3 years, Generative AI will become pervasive across most digital solutions. At Happiest Minds, we collaborate closely with industry leaders and are actively involved with open-source solutions. The future of the Generative AI space will witness the co-existence of a large ecosystem of major players and open-source solutions, and we are committed to leveraging these technologies for our customers.”

With the establishment of the new dedicated business unit for Generative AI, Happiest Minds Technologies is well-positioned to further enhance its effectiveness as a Digital IT Services provider – delivering superior customer experiences, increasing operational efficiency, and providing cost and time-efficient services. Even though the financial parameters of GBS will be tracked henceforth, these will be announced from the next financial year.