L&T Technology Services experienced a significant boost in stock prices on Monday after announcing a partnership with NVIDIA to develop software-defined architectures for medical devices focused on endoscopy. The collaboration aims to improve the image quality and scalability of medical products, addressing challenges related to hardware components, cost, and availability.
L&T Technology Services created a scalable platform that supports multiple applications and serves as a real-time decision-making tool for the medical industry. The architecture includes an image processing pipeline that reduces noise, improves edge and contrast, enhances texture and color, and corrects speckles. Additionally, it integrates Artificial Intelligence/Machine Learning models for detecting, identifying, and classifying polyps commonly found during colonoscopies.
Shanker Trivedi, Senior Vice President of Enterprise Business at NVIDIA, stated that the collaboration provides clients with a complete solution for transitioning to a software-defined business model with real-time AI applications.
In October 2023, Amit Chadha, the Managing Director and CEO of L&T Technology Services, announced plans to hire 2,000 freshers this year. With over 1,000 already onboard and the remainder expected to join in the next two quarters, the company reported a 1.4% sequential increase in net profit and a 3.7% sequential growth in revenue for the September quarter of FY24.
At 10:33 AM on Monday (BSE), shares of L&T Technology Services were trading up by 1.49%, reaching ₹452 per share.