AI has become central to automation initiatives: Newgen Software’ CEO
The pandemic forced businesses of all sizes and shapes to examine their operations and determine if the systems they had in place were assisting—or impeding—their ability to survive. As a response to these “business as usual” disruptions, investments in AI platforms have significantly increased in response to these disruptions to "business as usual".
After two years of turmoil, businesses now understand that they must have the resilience to face any unforeseen scenario. Businesses are utilising cutting-edge technology, including artificial intelligence and the cloud, to future-proof their operations and stay ahead of the competition, said Virender Jeet, Chief Executive Officer, Newgen Software, in an interview with us.
Virender Jeet has been with Newgen since its inception and manages the overall strategic and operational functions for the company’s entire portfolio of offerings. He oversees product development, global sales and marketing, and business enablement, and has spearheaded the filing of various patents in India and the US.
Here are the edited excerpts.
What has the past two years of disruption taught businesses in terms of new-gen tech adoption?
The last two years have taught businesses that they need to stay resilient to face any unprecedented situation. Businesses are leveraging new-age technologies, such as artificial intelligence, low code, and the cloud, to future-proof their businesses and stay ahead of the competition. For instance, with our low code-based digital lending software, we enabled various financial institutions to process high loan volumes quickly in the midst of the pandemic. Furthermore, using these technologies helped us shift our employees and customers to a remote working environment without missing a beat.
How are technologies such as automation and artificial intelligence helping businesses drive better outcomes?
Automation is vital for businesses to succeed in the digital era, and AI has become central to any automation initiative. AI-powered solutions are being widely used in various sectors, including banking, insurance, healthcare, and government. It enables businesses to deliver a rich customer experience and scale operations on-demand.
With our recent acquisition of the AI/ML company Number theory, Newgen is well-positioned to help enterprises leverage the power of AI. Our Newgen AI Cloud platform can help companies increase productivity, foster collaboration, and accelerate project execution to drive better outcomes. Furthermore, our platform has a scalable and flexible deployment model that enables businesses to utilize their existing infrastructure investments and decrease upfront costs.
What is Newgen doing to ensure employee motivation and build a positive working environment in the wake of all uncertainty?
At Newgen, we strive to provide a healthy working environment that empowers employees to showcase their talent, perform exceptionally, and enhance their capabilities. To ensure the mental well-being of our employees during the pandemic, we conducted various sessions on mental health, meditation, yoga, and other activities. We also arranged free vaccination drives and onboarded medical practitioners to provide teleconsultation to the employees.
Ensuring a great employee experience is our biggest priority, and we make continuous efforts to keep our employees engaged and motivated at every step of their journey. Furthermore, we have a robust reward and recognition program to celebrate the contribution and efforts of our employees.
What are your top business priorities in the post-pandemic world?
Organisations understand that embracing digital is not enough to survive in the post-pandemic world. They need a hyper-automation strategy to streamline their disjointed processes and accelerate digital by integrating technologies like robotic process automation, AI and machine learning with existing capabilities. Our low code and cloud-based digital transformation platform, NewgenONE, is well-positioned to help organizations ace their hyper-automation goals.
We have started FY’23, with new vigour and new branding, driven by our rich and differentiated platform, lasting relationships with customers, strong team and a robust demand environment. We will continue to invest in our products, employee training, and strengthening our partner ecosystem for gaining momentum in newer, bigger markets.