Shares of LTIMindtree hit a 52-week high of Rs 5,506.30 on 22 February after the company announced signing a Memorandum of Understanding (MoU) with insurer Eurolife FFH for setting up a Generative Artificial Intelligence (GenAI) and digital hubs in Europe and India.

Eurolife FFH is powered by Fairfax Digital Service and will establish GenAI and a digital hub in Athens that will be dedicated towards crafting innovative solutions tailored to the insurance industry in Greece.

Furthermore, the company will contribute its domain expertise and support from specialised facilities in Poland and Mumbai.

Both the company’s professionals will undergo joint training in GenAI and digital transformation that will empower them to create products and services, enhancing operational efficiency and customer experiences across diverse industries, including banking, insurance, manufacturing, and shipping.

This collaboration aligns perfectly with India’s recently introduced “Anusandhan” scheme that is aimed at catalysing innovation and research within the technology and startup ecosystem.

Sudhir Chaturvedi, President and Executive Board Member of LTIMindtree said that the partnership with Eurolife FFH is a part of the company’s strategic plan that is focused on achieving transformative growth through harnessing the full potential of GenAI.

At 11:23 am, the shares of LTIMindtree were trading 0.23% higher at Rs 5,432.75 on NSE.