Indegene partners Microsoft to scale up GenAI adoption; stock gains 3%

Following the announcement, shares of the company jumped 2.64 percent to Rs 585 on NSE at 12:08 pm.

Indegene has signed an agreement with Microsoft to provide support to global life sciences firms to scale up their generative AI services, the Bengaluru-based company said in an exchange filing on July 11.

Following the announcement, the company's stock gained and was trading at Rs 585 on National Stock Exchange at noon, up 2.64 percent from the previous close.

"As we double down on efforts to strengthen our innovation prowess, we will keep exploring opportunities for greater collaboration with key technology providers. We remain focused on helping our clients harness the potential of GenAI with targeted solutions to address some of their most pressing operational challenges and make their business future-ready”, Indegene chief technology officer Tarun Mathur said.

Under the partnership, the two firms have committed to developing resources in highly specialised and skilled medical and technology tools to co-innovate generative AI services and workflows across commercial, medical, regulatory, and clinical functions, the exchange filing said.

“Generative AI is profoundly shaping every industry, including life sciences, by offering unprecedented avenues for healthcare technology advancements," Microsoft India & South Asia chief operating officer Alok Lall said. According to a Microsoft-commissioned study conducted by IDCi, 79 percent of healthcare organisations have embraced AI, showing that the tangible business value of the transformation is indisputable, he said.

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