EXL Services’ Major Debut at Cannes Lions
EXL Services has recently made a notable appearance at the Cannes Lions festival, showcasing how their use of artificial intelligence and data supports clients in various sectors like insurance, media, healthcare, banking, financial services, and retail. This initiative is aimed at helping these industries rethink their business strategies and foster growth.
Narasingha Kini, Vice President of EXL, who oversees banking, capital markets, and diversified industrial market units, addressed the increasing relevance of AI and the ways in which his company can assist clients facing economic uncertainties.
Q: What is EXL’s mission?
Narasingha Kini: Our mission at EXL revolves around advancing businesses through data and AI. We’re always on the lookout for better methods to operate. By merging data and AI with extensive industry knowledge, we aim to enhance various sectors such as insurance, banking, finance, healthcare, and beyond, enabling the transformation of workflows and fostering business growth.
Q: How has EXL evolved since its inception in 1999?
NK: We began focusing on operational processes and delving into our clients’ workflows to identify areas for improvement. The surge in AI development over recent years has allowed EXL to streamline this focus even further. Our goal remains consistent: to assist clients in incorporating data and AI seamlessly into their operational frameworks.
Q: What solutions do you provide?
NK: EXL delivers a broad array of solutions, including data analytics, AI, and operational management tools. These help clients simplify complex workflows, automate tasks, and elevate customer experiences.
Q: How does EXL utilize AI and data management to assist clients?
NK: The essence of our approach is helping large entities like insurance companies and banks refine their workflows. We analyze intricate processes, identify improvement opportunities, and integrate diverse data sets. Our focus on embedding AI in these workflows helps enhance every stage of operations.
Q: Can you share a success story?
NK: We collaborate with numerous major sports leagues. The sports sector is rapidly adopting digital changes with an eye on fan satisfaction and data monetization. For instance, we developed an AI-driven solution to gather fan data, segment audiences, and craft personalized experiences. This has led to a 35% rise in fan engagement and significant boosts in marketing ROI and ticket sales.
Q: What kind of cost savings can a brand expect while working with EXL?
NK: Our research indicates that many firms are redefining customer service through a focus on products and pricing. In fact, US retailers have reported a 21% revenue improvement through AI, along with a 20% reduction in costs. More than half indicate that AI is reshaping customer experiences and supporting innovative products.
Q: What Partnerships does EXL have, particularly with Nvidia?
NK: We recently launched our EXL Insurance Leader Language Model, which benefits from NVIDIA’s AI technologies. This model specifically addresses tasks tied to billing and underwriting, catering to the unique needs of the insurance sector.
Q: Are Trump’s tariffs impacting your clients? How do you assist them in navigating these changes?
NK: The global trade landscape has changed drastically with the introduction of tariffs, leading to various challenges like increased costs and operational disruptions. Our AI solutions empower supply chain leaders to tackle these complexities efficiently, from demand forecasting to procurement optimization.
Q: How exactly does your AI solution work?
NK: AI’s ability to analyze intricate datasets and suggest actionable strategies makes it crucial for building resilient supply chains. One of our recent offerings, CPG, assists companies in evaluating their exposure to tariffs quickly and optimizing their supply chains in real-time.
