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Newsweek
8 hours ago
- Business
- Newsweek
How Cognizant Is Powering Health Care's Data Revolution
Health care is undergoing a fundamental transformation from a labor-intensive industry to a data-intensive sector, as artificial intelligence revolutionizes how health care organizations handle everything from insurance claims to drug discovery, representing the biggest operational shift since the introduction of electronic medical records. Take one of health care's most onerous administrative tasks: provider credentialing, the laborious process of enrolling doctors in insurance networks with varying coding across multiple insurance plans and geographic regions, which can consume weeks or months of work from dozens of staff members. "Now, with AI, we can get the task done within hours, if not minutes," explains Surya Gummadi, president of Cognizant Americas. AI is creating these kinds of efficiencies in back-office functions, faster clinical trials for pharmaceutical companies bringing treatments to market and real-time insurance authorization that helps health care providers streamline patient care decisions. Photo-illustration by Newsweek/Canva Cognizant, whose platforms are used by two-thirds of the U.S. insured population, approaches health care AI through what Gummadi calls three distinct vectors. Companies first enhance productivity through AI tools and models. They then focus on helping clients "infuse AI across their technology stack"—preparing data layers and applications for AI integration. And the final step, he says, is "agentification," which can coordinate multiple AI processes to handle complex tasks. "We have agentified our intranet," Gummadi explains. For example, if a Cognizant employee has a major life event, such as a new baby, they do not need to update their information in multiple systems for health insurance and paid time off. "Just one single update," he says, "and the agents across the intranet will coordinate and make it seamless for the associate." Anchoring Cognizant's role in the administrative backbone that keeps the American health insurance sector functioning is its $2.7 billion acquisition of TriZetto in 2014, which created one of the largest health care technology infrastructures in the United States. TriZetto's platforms serve approximately 350 health insurers, covering about 180 million lives, processing everything from claims adjudication to benefits enrollment. "We are not approaching AI as a technology solution," Gummadi says. "We are approaching AI as an enterprise solution to help our clients in their business outcomes." This focus on outcomes rather than technology has allowed Cognizant to address what he describes as "value pools that we never had access to," including core business functions that were previously kept in-house. This shift toward data-driven operations represents more than a technological upgrade—it's health care evolving into an industry where intelligent information processing, rather than human labor alone, drives core functions and patient outcomes. "Twelve months ago, most of the enterprises were a bit skeptical, and they were approaching AI more from an experimentation angle," Gummadi notes. "Now, many companies in different sectors are moving from experimentation to scale." While regulatory concerns initially slowed AI adoption in health care's highly regulated environment, there are now ways for organizations to "leverage AI by staying within the regulatory guardrails." And as health care organizations race to implement AI solutions, they increasingly opt for outside services rather than build proprietary systems. "There is a common agreement across clients and the service providers that there is no point in reinventing the wheel. So, there is more appetite for partnerships," Gummadi says. "All of us are racing against time when it comes to AI."
Time of India
06-06-2025
- Business
- Time of India
Tariffs have led to caution in the life sciences segment: Cognizant's Gummadi
Bengaluru: As clients look for cost optimisation, they aim to break silos and move towards consolidating their IT services partners. "They want a partner who can give end-to-end solutions," Surya Gummadi, President of the Americas business at Cognizant , said during the recent Bank of America Securities 2025 Global Technology Conference. With GenAI disrupting businesses, Gummadi felt pricing will evolve significantly in the next six months as clients move towards outcome-based said AI brought a great deal of uncertainty, adding to the macroeconomic pressures. That, he points out, is the difference between the previous cycles of the economic crisis. He, however, believes GenAI will create newer opportunities for Cognizant. Meanwhile, the tariff war triggered by US President Donald Trump impacted business sentiment in life sciences, product and manufacturing, as well as retail, he told Bank of America analysts. "There is some caution in the healthcare space. Tariffs have led to caution in the life sciences segment. Product and manufacturing clients are dealing with tariff uncertainty, and retail clients have also shown it in their guidance. All this is having a cascading effect on IT projects," Gummadi said. Despite the tough environment, Cognizant signed three mega deals by the end of the second quarter. Cognizant started to see an uptick in deal momentum, in general. Compared to 2023, when the firm signed 17 large deals, the New Jersey-headquartered IT services firm signed 29 large deals in 2024. In a choppy environment, CTS managed to get an extension of its contract with the healthcare client, which is a $1 billion deal. The full-year trailing 12-month booking for 2024 was $27.1 billion. Get the latest lifestyle updates on Times of India, along with Eid wishes , messages , and quotes !
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Business Standard
05-06-2025
- Business
- Business Standard
Cognizant wins two mega deals, eyes return to IT top four by 2027
IT firm doubles down on AI-led productivity and large transformation contracts Avik Das Bengaluru Listen to This Article Cognizant said on Wednesday it has won two 'mega deals' (worth $500 million at least) so far in its second quarter, taking the total to three in 2025 as it works to once again rank among the top four IT services companies in three years. The Nasdaq-listed company follows a January to December financial calendar. The two deals won in the second quarter, which ends on June 30, are in the communication, media and technology and health sciences business, said Surya Gummadi, president of Cognizant Americas, at a Bank of America technology conference. Cognizant won 29 large deals (worth $100
Yahoo
26-03-2025
- Business
- Yahoo
Cognizant Named to Fortune's America's Most Innovative Companies 2025 List
Company recognized for product and process innovation and culture for the third consecutive year TEANECK, N.J., March 26, 2025 /PRNewswire/ -- Cognizant (Nasdaq: CTSH) today announced that it has been recognized on Fortune's list of "America's Most Innovative Companies 2025". This prestigious award is presented by Fortune and Statista Inc., the world-leading statistics portal and industry ranking provider, and recognizes organizations that lead the charge in fostering creativity, advancing technology, and driving transformational change. The awards list was announced on March 26, 2025, and can be viewed on the Fortune website. Fortune and Statista selected America's Most Innovative Companies 2025 based on product innovation, process innovation, and innovation culture. For the evaluation of the innovation culture and the internal view of process innovation, Statista deployed online surveys where employees could score their own company on a scale system. Statista surveyed recruiters, management consultants, and patent attorneys to evaluate the external view of process innovation and product innovation. Statista also cooperated with LexisNexis PatentSight and used its platform to analyze the quantity and value of a company's patents. The 300 companies with the highest score were awarded America's Most Innovative Companies 2025. "Cognizant is proud to be named one of America's Most Innovative Companies for the third consecutive year by Fortune and Statista," said Surya Gummadi, President, Americas, Cognizant. "Over the last few years, Cognizant has prioritized becoming an employer of choice, optimizing operations, and accelerating growth—all while empowering our associates to drive grassroots innovation. That momentum is fueling innovation across the organization and for our clients, positioning Cognizant to lead in the AI era." Statista publishes hundreds of worldwide industry rankings and company listings with high-profile media partners. This research and analysis service is based on the success of the leading data and business intelligence portal that provides statistics, relevant business data, and various market and consumer studies and surveys. About CognizantCognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at or @cognizant. For more information, contact:U.S. Name Bill Abelson Email Europe / APAC Name Christina Schneider Email Name Rashmi Vasisht Email View original content to download multimedia: SOURCE Cognizant Sign in to access your portfolio
