Capgemini leads paradigm shift in mainframe application modernization powered by gen AI and agentic AI
Press contact:
Mollie Mellows
Tel.: + 44 (0) 7342 709384
E-mail: [email protected]
Capgemini leads paradigm shift in mainframe application modernization powered by gen AI and agentic AI
New automated offering enables organizations to unlock the value trapped in their legacy systems at unprecedented speed
Paris, May 14, 2025 – Capgemini is leading a paradigm shift in mainframe modernization with the launch of a new offering that will enable organizations to unlock greater value from their legacy systems at unprecedented speed and accuracy. Capgemini's new approach, powered by generative and agentic AI, gives those organizations that have been wedded to complex mainframe environments the ability to gain cost savings and agility, as well as a significant improvement in data quality. It converts legacy mainframe applications into more modern, agile, and cloud-friendly formats that can run more efficiently either on or outside of a mainframe.
Automated mainframe application refactoring involves using tools and techniques to automatically convert legacy mainframe applications, such as those written in COBOL and their respective databases and data files. Embedded with a set of generative AI assistants and AI agents, Capgemini's new offering automates legacy code analysis and extraction of business rules, quickly transforming them into modern architecture. It is also supported with rigorous automated testing for faster, higher-quality transformations and reduced risk for businesses.
'Many organizations have already explored various mainframe migration approaches like rehosting, but none of these lead to a mainframe exit option,' said Franck Greverie, Chief Portfolio & Technology Officer, Head of the Global Business Lines, and Group Executive Board Member at Capgemini. 'Our new automated approach, built on a combination of gen AI assistants and AI agents, provides a comprehensive understanding of an enterprise's existing legacy landscape. This approach enables the automation capabilities needed to completely refactor mainframe applications, driving greater efficiency in migrating and converting core mainframe-based systems. Designed to give enterprises opportunities to achieve greater cost efficiencies, quality and agility, it will open new business perspectives for those that have been relying on their mainframes for years.'
Underpinned by Capgemini's extensive experience of delivering large and complex mainframe modernization programs, market leadership in AI, deep domain knowledge and broad understanding of complex industry regulations, Capgemini's offering has already delivered tangible results for a number of blue-chip clients including, a major life insurance firm in the USA: by intelligently extracting legacy product requirements logic for a complex life product from their mainframe code base, Capgemini significantly accelerated their conversion to a modernized Policy Admin System, achieving higher quality and accuracy with remarkable speed compared to traditional methods.
In a recent report, The Forrester Wave™: Application Modernization and Multicloud Managed Services, Q1 2025, Capgemini was named a leader. Find out more here.
Forrester does not endorse any company, product, brand, or service included in its research publications and does not advise any person to select the products or services of any company or brand based on the ratings included in such publications. Information is based on the best available resources. Opinions reflect judgment at the time and are subject to change. For more information, read about Forrester's objectivity here.
About CapgeminiCapgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, generative AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2024 global revenues of €22.1 billion.
Get The Future You Want | www.capgemini.com
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
a day ago
- Yahoo
There's Almost 600K More Millionaires. That's Not Necessarily a Good Thing
If you love something, let it go, the old saying goes … but an advisor probably didn't come up with that. The Great Wealth Transfer is already upon us, and while it's debatable exactly how much money will change hands over the next quarter of a century, most agree it is at least in the tens of trillions. Market researcher Capgemini estimates that $84 trillion will transfer to inheritors over the next 23 years. Additionally, the world's millionaire population increased by 600,000 last year — 94% of whom were in the US. That's good news for older clients' children, but the concern for advisors is that the vast majority of next-gen high net worth clients — 81% — will switch from their parents' wealth manager within two years after receiving their inheritance, according to Capgemini's latest World Wealth Report. Advisors are recognizing that what worked for a client might not work for their kids, who often want more aggressive investment strategies in their portfolios and access to digital interfaces with their wealth managers. 'The attrition rate should be a wake-up call for the industry,' said Kyle DePaolo, co-founder of DePaolo & May Strategic Wealth. 'Too many advisors focus solely on the primary wealth holder and neglect building trust and relevance with the next generation.' READ ALSO: Goldman, Morgan Stanley, JPMorgan Layoffs to Hit Northeast and Wedbush and Dan Ives Launch AI Revolution ETF While 81% does sound like a lot, it's not surprising that clients and their younger children would have different financial concerns and goals. While baby boomers are focused on wealth preservation, next-gen HNW clients are predominantly risk-takers, interested in assets such as private equity and cryptocurrency, the report found: Next-gen HNW clients look for comprehensive financial planning, or concierge service, and they seek out wealth managers who can advise on everything from portfolio management, to travel, to education, the report found. Younger clients also want an advisor they can seamlessly communicate with via multiple channels including phone calls, emails, and digital platforms. They have a strong preference for video calls. 'Firms that can successfully integrate digital-first services and enhance omnichannel experiences will have the upper hand in retaining, attracting, and delighting this population,' according to Capgemini. What Women Want. One thing to keep in mind is that before clients' children receive their inheritances, assets are often transferred to wives first as women tend to live longer than men. 'They also are likely to make a change in advisors if the current advisor has not been engaging and addressing her,' said Lisa Kirchenbauer, senior advisor at Omega Wealth Management. This post first appeared on The Daily Upside. To receive financial advisor news, market insights, and practice management essentials, subscribe to our free Advisor Upside newsletter. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Yahoo
CLPS Incorporation Unveils Transformative AI Solutions: A Catalyst for Business Value Creation and Market Expansion
HONG KONG, June 6, 2025 /PRNewswire/ -- CLPS Incorporation (the "Company" or "CLPS") (Nasdaq: CLPS), today announced that its Singapore subsidiary, CLPS Technology (Singapore) Pte. Ltd., has achieved pivotal advancements in artificial intelligence (AI) technology development and real-world scenario applications. Following extensive refinement within the high-demand financial services sector and diverse business verticals, CLPS has successfully completed robust proof-of-concept and pilot deployments for its suite of proprietary AI innovation solutions (CLPS AI). CLPS AI is expected to open a new revenue source for the Company under its customized IT solution services, offering tailored AI implementations to clients. This marks significant step for the Company as it expands into the large-scale AI application implementation market. This move positions CLPS to address the growing global demand for intelligent transformation, aiming to deliver substantial value for companies worldwide. The CLPS AI solutions are strategically engineered to optimize core business operational aspects, including software development, compliance management, and customer service, featuring innovative scenario applications designed for tangible outcomes: AI-Powered Code MigrationAddressing the multi-billion-dollar challenge of legacy system modernization, CLPS AI establishes an intelligent, automated code migration framework. This solution efficiently converts complex legacy COBOL and JCL systems to modern architectures like Java and Python, dramatically accelerating a company's technical infrastructure transformation. This not only reduces modernization timelines but also significantly lowers associated development costs and mitigates risks inherent in manual conversions. Intelligent Automated TestingLeveraging advanced Natural Language Processing (NLP) technology, CLPS AI autonomously converts requirement documents into comprehensive test scenarios, cases, and data. This innovation is projected to increase defect detection rates, drastically reduce testing cycles, and mitigate software delivery risks, directly improving project economics and accelerating time-to-market for new applications. Long-Text Intelligent ParsingDesigned to overcome the complexities of processing lengthy and unstructured documents, CLPS AI's intelligent document parsing platform accurately analyzes multi-version document structures and nested tables. This solution significantly enhances compliance review efficiency, reduces manual processing errors, and boosts operational productivity, translating into measurable cost savings and improved regulatory adherence. Multilingual Customer Service MatrixIntegrating sophisticated speech recognition with neural machine translation, CLPS AI's intelligent customer service solution delivers seamless, 24/7 multilingual support. This empowers enterprises to build truly global intelligent service ecosystems, substantially reducing operational costs while significantly enhancing customer satisfaction and global market penetration. AI-OCR Contract Processing PlatformCombining cutting-edge deep learning with optical character recognition (OCR), this end-to-end automated solution revolutionizes contract processing. It achieves precise signature positioning, critical clause extraction, and proactive risk alerting, dramatically improving contract processing efficiency and accelerating business deal closures, thereby impacting revenue cycles. Mr. Sky Sun, Chief Marketing Officer of CLPS, stated: "These achievements demonstrate our market-driven 'scenario-first, value-centric' development strategy. By deeply embedding AI into our clients' core business processes, we are not just providing technology; we are empowering them to build intelligent, next-generation productivity systems that deliver measurable ROI and sustainable competitive advantage, solidifying CLPS's position as an indispensable partner in their digital evolution." Mr. Raymond Lin, Chief Executive Officer of CLPS, emphasized: "Deepening scenario-based AI implementation remains our paramount strategic focus for 2025. We are committed to sustained, robust AI investment, strategically allocating capital to R&D and market expansion. Furthermore, we have initiated a strategic collaboration with an industry leader through an overseas joint venture. This form of collaboration is designed to restructure industrial value chains, amplify AI's multiplier effects across diverse sectors, and unlock significant, long-term growth opportunities for CLPS and our valued shareholders as we lead the charge in enterprise AI transformation." About CLPS Incorporation CLPS Incorporation (NASDAQ: CLPS), established in 2005 and headquartered in Hong Kong, is at the forefront of driving digital transformation and optimizing operational efficiency across industries through innovations in artificial intelligence, cloud computing, and big data. Our diverse business lines span sectors including fintech, payment and credit services, e-commerce, education and study abroad programs, and global tourism integrated with transportation services. Operating across 10 countries worldwide, with strategic regional hubs in Shanghai (mainland China), Singapore (Southeast Asia), and California (North America), and supported by subsidiaries in Japan and the UAE, we provide a robust global service network that empowers legacy industries evolve into data-driven, intelligent ecosystems. For further information regarding the Company, please visit: or follow CLPS on Facebook, Instagram, LinkedIn, X (formerly Twitter), and YouTube. Forward-Looking Statements Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to the Company's beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance. Known and unknown risks, uncertainties and other factors, which may be beyond the Company's control, may cause the actual results and performance of the Company to be materially different from such forward-looking statements. All such statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties related to the Company's expectations of the Company's future growth, deployment in the AI technology sector, performance and results of operations, the Company's ability to capitalize on various commercial, M&A, technology and other related opportunities and initiatives, as well as the risks and uncertainties described in the Company's most recently filed SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made. Contact: CLPS IncorporationRhon GalichaInvestor Relations OfficePhone: +86-182-2192-5378Email: ir@ View original content: SOURCE CLPS Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
The Hill
2 days ago
- The Hill
US gained 562K millionaires in 2024, far outpacing other countries
A strong stock market helped mint 562,000 new millionaires in the U.S. last year, according to a new report. The nation's high-net-worth population grew by 7.6 percent to 7.9 million in 2024, far outpacing the 2.6 percent global rise, Capgemini's World Wealth Report 2025 shows. That domestic surge helped push the number of millionaires worldwide to a record 23.4 million. High-net-worth individuals (HNWIs), defined as those with $1 million or more in investable assets, benefited from double-digit returns in the U.S. stock market, resilience fueled by stronger-than-expected economic growth and sustained enthusiasm for artificial intelligence and tech stocks. It was also a year of wealth concentration, with the ultra-rich emerging as the clear winners. Globally, the number of so-called 'millionaires next door' — individuals worth between $1 million and $5 million — grew by 2.4 percent. Meanwhile, the ultrawealthy population — those with investable assets of $30 million or more — grew more than twice as much, at 6.2 percent. 'Ultra-HNWIs remained resilient during market volatility with greater exposure to high-growth opportunities, whereas Millionaires Next Door focused on safer, low-yield opportunities like fixed-income and real estate,' the report reads. The wealthy continue to favor traditional investments like real estate, stocks and fixed income assets, but alternative investments like currencies, private equity and digital assets have gained traction in recent years. As of January 2025, HNWI investors parked 15 percent of their portfolios in alternative investments, including private equity and cryptocurrencies, up from just 9 percent in 2018. The report also highlighted the looming 'great wealth transfer,' with older generations expected to pass on an estimated $83.5 trillion to Gen X, millennials and Gen Z by 2048. Within the next decade, women are projected to receive a significant share of that wealth. The massive transfer presents an opportunity for wealth managers but also considerable risk, Capgemini warned. 'The next-generation of high-net-worth individuals arrive with vastly different expectations to their parents,' Kartik Ramakrishnan, CEO of Capgemini's Financial Services Strategic Business Unit and Group Executive Board Member, said in a release. Ramakrishnan urged wealth management firms to shift away from 'traditional strategies' and equip advisors with digital capabilities, 'potentially augmented with agentic or generative AI.' Outside the U.S., India and Japan were standouts, with both countries registering 5.6 percent growth, adding 20,000 and 210,000 millionaires last year. Meanwhile, China's HNWI population declined by 1 percent. In Europe, the high-net-worth population also declined by 2.1 percent, primarily due to economic stagnation in major countries such as the United Kingdom and Germany. The number of high-net-worth individuals shrank in the Middle East and Latin America too.
