Marlabs CEO Excitedly Predicts 50% Surge in Data and AI Business within Next 2-3 Years | Company News
US-based IT firm Marlabs is anticipating a 50% growth in its data and Artificial Intelligence (AI) segment over the next two to three years, driven largely by operations in India. According to CEO Thomas Collins, the majority of the company’s AI and data engineering efforts are based in India, with key centers in Bengaluru, Pune, Mysuru, and Kochi.
Marlabs aims to become an AI-first company by 2027. Currently, its business model is divided into data and AI, product engineering, infrastructure and plants, and talent services. While data and AI are showing double-digit growth, product engineering is increasing at a single-high-digit rate.
In January, Collins announced plans to hire 500 new employees in India, adding to its current 1,500-strong workforce in the country. He stressed that India is central to Marlabs’ operations, noting that various support functions, including finance, HR, marketing, and IT, are based in Bengaluru and expected to grow.
Despite macroeconomic uncertainties impacting the company’s infrastructure and talent services segments, Collins highlighted significant strides in life sciences and healthcare. Marlabs is aiding a major life sciences client with AI solutions for clinical trials and enhancing efficiency in one of the world’s largest hospital chains.
Looking ahead, Marlabs expects the third quarter of FY 2025 to be notably strong, fueled by its focus on data AI and product engineering. The firm’s recent acquisition of Onebridge is also anticipated to drive synergies and growth.
Collins reiterated plans to reinforce existing office locations in Bengaluru, encouraging employees to return for better collaboration, rather than expanding to new sites.
First Published: Aug 19, 2024 | 12:02 AM IST
Original Story https://www.business-standard.com/companies/news/marlabs-expects-to-grow-its-data-and-ai-biz-by-50-in-2-3-years-ceo-124081900001_1.html
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