EXL exec Nasasimha Kini on how AI can supercharge growth
EXL Services is making its grand debut at Cannes Lions despite having been in existence for 26 years. The global analytics and digital solutions firm leverages artificial intelligence and data to assist clients in various industries such as insurance, media, healthcare, banking, financial services, and retail in reimagining their business models to drive growth.
Executive Vice President Narasimha Kini, who leads EXL’s banking and capital markets and diversified industries market units, sat down with The Post to discuss the increasing importance of AI and how his company aids clients in navigating the uncertain economic landscape.
Q: What is EXL’s mission?
Narasimha Kini: EXL is dedicated to propelling businesses forward with data and AI. We believe there is always room for improvement. By delving deeper, uncovering it, and making it a reality, EXL integrates data and AI with its profound industry expertise to empower businesses in sectors like insurance, banking and finance, healthcare, retail, media, entertainment, and infrastructure to revamp workflows and expand their operations.
Q: How has the company evolved since its establishment in 1999 and what has fueled its growth?
NK: EXL initially began as a business process operations company, focusing on comprehending the intricacies of clients’ operational workflows and enhancing them. The onset of the AI Supercycle a couple of years ago found EXL in a unique position. Our emphasis has always been on aiding clients in integrating data and AI into their operational workflows, and the growth of AI has only enhanced this strength.
Q: What solutions do you offer clients?
NK: EXL provides a wide array of data, analytics, AI, and operations management solutions to help clients streamline complex workflows, automate manual labor-intensive processes, and enhance customer experience.
Q: How does EXL utilize AI and data management to assist clients?
NK: Our focus with AI is embedding it into clients’ workflows to enhance every step in the process. We analyze all facets of a complex process, such as insurance underwriting or investment management customer experience, and identify ways to enhance each step by integrating diverse data sets, revealing crucial insights, and automating redundant processes.
Q: Can you share a success story as an example?
NK: We collaborate with major sports leagues. The sports industry is embracing digital transformation with a focus on fan engagement, data monetization, and athlete well-being. To elevate fan experiences, we introduced an AI-driven solution that consolidates fan data, segments audiences, and delivers personalized engagement. This solution has resulted in a 35% increase in fan engagement, a 60% boost in marketing ROI, and significant growth in ticket sales.
Q: What cost savings can brands anticipate by working with EXL?
NK: Our original research indicates that companies are redefining customer service with a product and pricing focus. US retailers have reported a 21% higher revenue and a 20% cost reduction through AI, with more than half stating that AI has redefined customer experience, supported new products and services, and accelerated real-time data.
Q: How does EXL utilize AI and data management to aid clients?
NK: EXL leverages AI and data management to help clients unlock business value by enhancing decision-making, automating processes, improving customer experiences, and boosting operational efficiency. By merging deep domain expertise with advanced analytics, AI, and proprietary data platforms, EXL assists organizations in transforming how they operate and compete.
Q: You have partnerships with major companies like chip maker Nvidia. How do you collaborate with them?
NK: We recently developed a proprietary EXL Insurance Large Language Model (LLM) utilizing NVIDIA AI Enterprise to support essential claims and underwriting-related tasks. This LLM was tailored to address the specific needs of the insurance industry, incorporating deep industry knowledge and highly tailored proprietary data to create the most accurate LLM for the insurance sector.
Q: Are the Trump tariffs affecting your clients? If so, how are you guiding them through this?
NK: The unpredictable trade policy changes and sudden tariff implementations have significantly altered global trade dynamics, impacting supply chain leaders with increased costs, operational disruptions, and heightened risks. EXL’s AI-driven solutions empower supply chain management leaders to navigate these complexities, from demand forecasting to sourcing optimization, to establish resilient and efficient supply chains in the face of tariff-related challenges.
Q: How does that work exactly?
NK: AI’s capability to analyze complex datasets, forecast scenarios, and recommend actionable strategies is invaluable for ensuring supply chain resilience.
One of EXL’s Latest AI Solutions: Supply Chain Optimization for CPG Companies
EXL has recently introduced a cutting-edge AI solution designed to optimize supply chains for consumer packaged goods (CPG) companies. This innovative solution enables CPG companies to swiftly pinpoint their exposure to tariffs on a line item-by-line item basis, forecast cost implications, and fine-tune their supply chains in real-time as tariff developments unfold.
