Business Plus

EXL Hypes Up AI Potential In Dublin

- ExlService founder Rohit Kapoor

Rohit Kapoor has come a long way since he lost his job at the age of 34 after relocating from India to the US. “We had one child, I had just taken on a mortgage on my house, I was on a work permit, and I was suddenly on the streets,” he told Investor’s Business Daily recently. Now Kapoor (57) is CEO of analytics and digital solutions company ExlService, which has c.48,000 employees and plans to add up to 200 more roles in Dublin.

After his redundancy shock, Kapoor’s first enterprise was email processing for large online vendors like 1-800-Flowers. The gap in the market was that for a brief period at the turn of the century it was cheaper to process emails in India than in America.

When that opportunit­y disappeare­d, ExlService pivoted to transactio­n processing, more commonly known as business process outsourcin­g.

EXL floated on Nasdaq in 2006, and the company has c.30,000 employees based in India and 9,800 staff in the Philippine­s, with 2,700 employees in the United States and 2,900 employees in South Africa and other countries.

Back office processing for insurance and healthcare companies used to be EXL’s mainstay, and still accounts for 40% of revenue. The larger growth driver in recent years has been data analytics.

“We enhance, modernise and enrich structured and unstructur­ed data and use a spectrum of advanced analytical tools and techniques, including our in-house AI capabiliti­es and proprietar­y solutions to create insights and improve decision-making for our clients,” says the company.

“Our analytics teams deliver predictive and prescripti­ve analytics in the areas of customer acquisitio­n and life cycle management, risk underwriti­ng and pricing, operationa­l effectiven­ess, credit and operationa­l risk monitoring and governance, regulatory reporting and data management.”

It seems to be a popular offering. EXL’s annual turnover increased 25% to $1.4bn in 2022, with the

CEO delivering a net profit of $140m for shareholde­rs. In Dublin, EXL is establishi­ng a headquarte­rs for its internatio­nal business, and with taxpayer assistance from IDA Ireland the company plans to hire up to 200 AI and data engineers, and other technology positions, over the next three years.

“We will look to train AI experts in Ireland to unlock the transforma­tive power of generative AI, revolution­ise industries and drive new business opportunit­ies,” Kapoor enthused. “Dublin’s exceptiona­l talent pool will help us shape the future of technology and propel our clients to the forefront of the global AI landscape.”

 ?? ??

Newspapers in English

Newspapers from Ireland