Ascendion Expands Workforce, Bets Big With New GenAI Studio In Chennai

US-based software engineering firm Ascendion is significantly expanding its workforce and equipping employees with artificial intelligence (AI) skills, reflecting a strong commitment to AI adoption and cost efficiency.

Ascendion has launched a GenAI studio in Chennai to demonstrate its AI tools and applications to clients. CEO Karthik Krishnamurthy highlighted the company's success in securing new AI deals, aiming to derive at least 50 per cent of its revenue from AI technologies. Despite a challenging IT market with companies reevaluating their expenditures, Krishnamurthy emphasised that tech budgets are being reallocated to ensure AI tools and platforms enhance human labor.

"Clients are exploring the most effective ways to invest their funds," he noted, explaining that Ascendion is gaining market share at the expense of traditional technology service providers. Krishnamurthy also mentioned that Ascendion is developing commercial models around its AI offerings, particularly its software automation tool, which many companies struggle to monetize effectively.

Prakash Balasubramanian, Executive Vice-President, observed, "While the cost per unit of work is decreasing, there has been an increase in new projects."

Ascendion plans to recruit over 300 graduates this year and will train both existing and new employees in dual AI models: efficient use of AI tools and development of advanced AI solutions. Balasubramanian emphasised the importance of preparing the workforce to be proficient AI consumers, with training programmes focusing on coding, system analysis, communications, and AI tools.

Currently, 30 per cent of Ascendion's core AI talent, including machine learning engineers and data engineers, is based in Chennai.