Cognizant associates have submitted more than
130K ideas via Bluebolt, a grassroots
innovation program launched a year ago; more than 23K ideas have been implemented with
clients
More than 220K
associates are trained on Bluebolt, of which 93K are trained on design thinking
TEANECK,
N.J., April 25, 2024 /PRNewswire/ --
Cognizant (Nasdaq: CTSH), a leading global
technology company, has driven more than $150 million in estimated annualized cost savings
across more than 1,100 client implementations via its Bluebolt
grassroots innovation program, which launched a year ago in April
2023. Building on a decade of focus on innovation, Cognizant
introduced Bluebolt to empower its global associates to devise and
submit ideas – large and small – with the goal of advancing
clients' success. In that time, Cognizant has seen a surge in
participation from its associates worldwide, with more than 130,000
ideas submitted to date, more than 23,000 ideas implemented and
more than 8,000 related projects in progress with clients.
Amidst the growing volume of proactive ideation, junior-level
employees have emerged as the engine driving Bluebolt's
innovations, with about 65 percent of ideas implemented with
clients coming from those associates. Overall, 220,000 Cognizant
associates have been trained on Bluebolt, of which 93,000 have been
trained on design thinking specifically.
To date, across industries, Cognizant clients in the
Manufacturing/Logistics/Energy/Utilities, Insurance, and Banking
and Financial Services sectors have implemented the most Bluebolt
ideas. Last year, Cognizant augmented the Bluebolt program with
"Bluebolt Garage," a program that capitalizes on the company's
bench capacity and entry-level talent to rapidly convert ideas to
prototypes or Minimum Viable Products (MVPs) for clients. The
Garage is equipped with tools and accelerators for rapid
development. The Garage also provides the opportunity for employees
who are transitioning between projects to stay actively engaged and
to build new skills while developing MVPs.
Cognizant's Bluebolt program aims to keep clients on the
cutting edge of business transformation proactively through
ideation and collaboration – a growing need as they grapple with
harnessing emerging technologies like Generative Artificial
Intelligence (Gen AI) to drive new value.
Recent research has shown that more than half (66
percent) of executives are ambivalent or dissatisfied with their
company's progress on AI and Gen AI. Yet the business opportunity
remains significant – a study by Cognizant and Oxford
Economics found that Gen AI could inject up to $1
trillion into the U.S. economy by 2032.
"The true impact of innovation comes from how we maximize its
value in the long term," said Alexis
Samuel, SVP and Head of Global Delivery Excellence at
Cognizant. "Our associates help to keep some of the world's most
critical enterprise systems up and running, and their ingenuity and
commitment to continuous improvement through Bluebolt has delivered
thousands of ideas that have created top and bottom line value for
our clients. The progress we've made with Bluebolt in the past
year has also energized the innovative spirit of our associates
through our comprehensive reward and recognition programs."
Bluebolt ideas span use cases such as applying AI and machine
learning algorithms to data management, real-time monitoring
solutions to drive operational efficiencies, and intuitive
solutions that reduce outages and downtime. For example
a large energy company in the U.S. experienced challenges
managing an aging electricity network while integrating renewable
energy resources. Challenges included data surges, reliability
constraints due to reduced efficiency of field personnel, and
weather-related outages. A Bluebolt team created an intuitive
solution that provided statistical indices from sources such as
historical data exceptions, real time communication errors, and
standard operating procedures. As a result, the solution optimized
field activities with real-time information aiding in
decision-making that improved customer satisfaction. The company
experienced a 10% reduction in program operations costs and
significant improvements in billing accuracy.
Cognizant continues to invest in technologies and resources that
will speed the ideation and collaboration that are essential to
powering innovation for its clients. Recently, the company
announced the integration of a Gen AI-powered innovation assistant
in collaboration with Microsoft that supercharges how Cognizant's
employees innovate, develop client-facing solutions, and solve
problems through Bluebolt. Cognizant also hosts regular Bluebolt
hackathons and ideathons that involve both associates and clients,
and recently launched innovation days to continue to advance idea
generation and implementation in collaboration with clients.
About Cognizant
Cognizant (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 www.cognizant.com or
@cognizant.
For more information, contact:
U.S.
Name Gabrielle
Gugliocciello
Email
gabrielle.gugliocciello@cognizant.com
|
|
Europe /
APAC
Name Christina
Schneider
Email
christina.schneider@cognizant.com
|
|
India
Name Rashmi
Vasisht
Email
rashmi.vasisht@cognizant.com
|
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SOURCE Cognizant