EXL Makes Waves at Cannes Lions with AI Solutions
EXL, the global analytics and digital solutions firm, is making a significant splash at Cannes Lions. By leveraging artificial intelligence and data, they assist clients across various sectors—like insurance, media, healthcare, banking, financial services, and retail—in reimagining their business strategies and driving growth.
Vice President Narasingha Kini, leading the banking and capital markets and diversified industrial market units at EXL, emphasized the increasing importance of AI and the company’s role in helping clients navigate turbulent economic circumstances.
What is EXL’s mission?
Narasingha Kini: Our mission at EXL revolves around propelling businesses forward through data and AI. We always believe there’s a better way. By diving deep into our clients’ needs, we uncover solutions and make them happen. Through integrating data and AI combined with extensive industry knowledge, we enhance various businesses, transforming workflows and fostering growth.
How has the company evolved since its founding in 1999? What has fueled that growth?
Narasingha Kini: Initially focused on business process operations, we honed in on understanding our clients’ workflows to optimize them. When the AI Supercycle emerged a few years back, EXL found its footing in this new terrain. Our consistent approach has been to aid clients in embedding data and AI in their operations, and the surge in AI capabilities has significantly bolstered our position.
What solutions do you offer to your clients?
Narasingha Kini: EXL provides a comprehensive suite of data, analytics, AI, and operational management solutions designed to streamline complex workflows, automate labor-intensive tasks, and enhance customer experiences.
How does EXL use AI and data management to assist clients?
Narasingha Kini: Our strength lies in assisting large organizations—like insurance firms, banks, retailers, and media companies—to refine their workflows. We analyze intricate processes, pinpoint opportunities for improvement, and automate repetitive tasks, all while enhancing customer journeys through data integration and insights.
Can you share a success story?
Narasingha Kini: We collaborate with numerous major sports leagues, where the industry is leaning into digital transformation to boost fan engagement, monetize data, and enhance athlete satisfaction. For instance, we launched an AI-driven solution that aggregates fan data, segments audiences, and amps up personalized engagement. This has led to a 35% uptick in fan engagement, a 60% return on marketing investment, and notably increased ticket sales. Interestingly, 20% of fans contributed to nearly half of the total revenue, allowing for more targeted marketing strategies.
What kind of cost savings can a brand expect by working with EXL?
Narasingha Kini: Our research indicates that many companies are reshaping customer service, focusing on products and pricing. In fact, US retailers have reported a 21% revenue bump thanks to AI, along with a 20% reduction in costs. Essentially, more than half of them believe that AI is redefining customer experiences and pushing for real-time data utilization.
How does EXL integrate AI and data management to benefit clients?
Narasingha Kini: EXL taps into AI and data management to extract business value, enhance decision-making, automate tasks, and elevate customer experiences. Our unique data platform, paired with our deep industry expertise and advanced analytics, helps organizations transform their operations and competitive edge.
What partnerships do you have, like with Nvidia? How do they support your efforts?
Narasingha Kini: We recently launched our own EXL Insurance Leader Language Model (LLM) leveraging NVIDIA AI Enterprise. This model, tailored specifically for the insurance sector, addresses crucial tasks related to billing and underwriting, ensuring more effective processes than generic solutions could offer.
We designed this LLM to meet the nuanced requirements of the insurance industry, focusing on tasks like data interpretation and anomaly detection. This customization is necessary to overcome the inherent challenges of claims management and improve operational efficiencies.
Are tariffs affecting your clients? How do you navigate these challenges?
Narasingha Kini: The landscape of global trade has shifted dramatically with tariffs and unpredictable policies. These changes introduce increased costs and operational challenges, which necessitate careful navigation. Our AI-driven solutions are designed to support supply chain leaders, helping them deal with complexities ranging from demand forecasting to procurement optimization.
How does it actually work?
Narasingha Kini: AI’s capability to analyze intricate datasets and predict outcomes makes it essential for building resilient supply chains. One of our latest solutions, designed for consumer packaged goods (CPG), helps firms quickly understand tariff impacts on a granular level, allowing them to adapt effectively and optimize their operations as needed.
