EPAM Expands Collaboration with Google Cloud to Deliver Scalable AI Solutions for Industry Transformation

Rhea-AI Summary

EPAM Systems has expanded its strategic partnership with Google Cloud to deliver advanced industry solutions across media and entertainment, energy, and retail sectors. The collaboration will utilize Google Cloud's Vertex AI platform to provide generative AI, legacy modernization, and data analytics capabilities.

The company introduced four new solutions: Video Search and Indexing for media and entertainment, JenAii™ for retail customer assistance, Geospatial Data Visualization for energy sector decision-making, and Talk to Your Data for simplified data analysis. EPAM will leverage its expanded presence in Ibero markets through Neoris acquisition and strengthen financial services offerings across Europe, North America, and APAC through First Derivative acquisition.

Positive

• Strategic expansion with Google Cloud enhances EPAM's AI solution capabilities
• Launch of four new industry-specific AI solutions targeting key verticals
• Geographic expansion through strategic acquisitions (Neoris and First Derivative)
• Access to Google Cloud's advanced Vertex AI platform and Gemini models

Negative

• None.

Insights

Tech Strategy Analyst

The expanded EPAM-Google Cloud partnership represents a strategic pivot towards AI-driven enterprise solutions. The collaboration's emphasis on Vertex AI platform integration across multiple verticals signals a sophisticated approach to monetizing AI capabilities. Most notably, the four new solutions target high-margin opportunities in media, retail and energy sectors, with particular focus on practical applications like video indexing and geospatial visualization.

The integration of First Derivative and Neoris acquisitions creates a compelling cross-market delivery capability, especially in financial services across key regions. This positions EPAM to capture a larger share of the enterprise AI implementation market, estimated at $150 billion by 2025. The focus on repeatable solutions suggests a scalable revenue model that could significantly improve profit margins.

AI Implementation Expert

The solution portfolio demonstrates advanced technical sophistication, particularly in the deployment of Vertex AI and Gemini models. The Video Search and Indexing solution addresses a critical pain point in media content management, while JenAii™ for retail shows promise in solving persistent industry challenges around customer service and operational efficiency. The "Talk to Your Data" capability represents a significant advancement in democratizing data analytics across organizations.

In simple terms, imagine turning thousands of hours of video content into a searchable library as easy to use as Google Search - that's what the media solution does. The retail solution is like having a knowledgeable sales assistant available 24/7, while the energy solution helps companies visualize complex data as easily as viewing a weather map.

Market Research Analyst

This partnership expansion strategically positions EPAM in the rapidly growing enterprise AI market. The company's focus on sector-specific solutions, particularly in high-value verticals like financial services and energy, indicates strong revenue potential. The geographic expansion through strategic acquisitions (Neoris in Ibero markets and First Derivative in major financial centers) creates multiple growth vectors.

The timing aligns with increasing enterprise AI adoption, as organizations move from experimentation to implementation. The partnership's emphasis on measurable business outcomes and scalable solutions suggests potential for significant recurring revenue streams. For investors, this represents a clear path to value creation in the enterprise AI space.

New AI-powered solutions address generative AI, legacy modernization and data analytics to solve industry-specific challenges

NEWTOWN, Pa., Jan. 15, 2025 /PRNewswire/ -- EPAM Systems, Inc. (NYSE: EPAM), a leading digital transformation services and product engineering company, today announced it has expanded its strategic partnership with Google Cloud to deliver innovative industry solutions for clients across the media and entertainment, energy and retail verticals. The enhanced collaboration will leverage Google Cloud's Vertex AI platform to drive measurable business outcomes for clients through generative AI, legacy modernization and data analytics capabilities.

Building upon EPAM's existing strategic global partnership with Google Cloud, this strengthened collaboration will create repeatable, high-value solutions that address key industry challenges for clients. The collaboration enables marketing support and go-to-market strategies to deliver impactful digital transformation initiatives for EPAM's Google Cloud clients.

To accelerate regional growth, EPAM will leverage its deep retail, energy and media industry expertise and regional talent footprint across Ibero markets through its acquisition of Neoris. The Company will also expand its financial services offerings across Europe, North America and APAC through its recent acquisition of First Derivative, delivering strong capabilities in banking and capital markets.

"We are excited to elevate our collaboration with Google Cloud, which enables us to deliver tailored, AI-powered solutions for our clients across top verticals such as energy, media and retail," said Elaina Shekhter‎, Chief Marketing & Strategy Officer, EPAM. "By leveraging Google Cloud's advanced AI technologies, enabled by the Vertex AI platform, we can drive measurable business outcomes and enhance customer value, making AI real for our clients. This expanded partnership not only strengthens our ability to create industry-specific solutions but also deepens our relationship with Google Cloud, enabling us to align more closely on delivering impactful, scalable results for our customers."

EPAM's expanded partnership with Google Cloud introduces four innovative solutions, leveraging the full power of Google Cloud and the Vertex AI platform. These include three new industry-specific solutions and one cross-industry capability:

1. Video Search and Indexing for Media and Entertainment: Transform unstructured video data into searchable, actionable insights using the Vertex AI platform, improving accessibility and audience engagement for both internal and external users.
2. JenAii™ for Retail: Enhance customer satisfaction and boost sales with wayfinding assistance and customer education, while addressing staffing shortages and margin pressures for retailers.
3. Geospatial Data Visualization for Energy: Drive better decision-making through intuitive visualization and analysis of complex datasets using EPAM and the Google Cloud Platform, powered by Gemini models.
4. Talk to Your Data: Simplify data analysis with a horizontal solution that enables clients to interact with their data in plain language, transforming complex datasets into clear, actionable visualizations and reports.

"EPAM has helped global enterprises improve everyday operations with Google Cloud's leading AI technology," said Colleen Kapase, VP of Channels and Partner Programs, Google Cloud. "Through this next phase of our partnership, EPAM will provide customers with the expertise and services capacity required to successfully plan, deploy and optimize every stage of a generative AI project."

For more information about EPAM's partnership with Google Cloud and the new industry solutions, please visit: www.epam.com/services/partners/google-cloud.  

Discover how our expanded partnership is driving digital transformation and how we can empower your business to achieve lasting success: www.epam.com.

About EPAM Systems

Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has used its software engineering expertise to become a leading global provider of digital engineering, cloud and AI-enabled transformation services, and a leading business and experience consulting partner for global enterprises and ambitious startups. We address our clients' transformation challenges by focusing EPAM Continuum's integrated strategy, experience and technology consulting with our 30+ years of engineering execution to speed our clients' time to market and drive greater value from their innovations and digital investments.

We make GenAI real with our AI LLM orchestration, testing and engineering solutions, EPAM DIAL, EPAM EliteA™ and EPAM AI/RUN™, respectively.

We deliver globally but engage locally with our expert teams of consultants, architects, designers and engineers, making the future real for our clients, our partners, and our people around the world. We believe the right solutions are the ones that improve people's lives and fuel competitive advantage for our clients across diverse industries. Our thinking comes to life in the experiences, products and platforms we design and bring to market.

Added to the S&P 500 and the Forbes Global 2000 in 2021 and recognized by Glassdoor and Newsweek as a Top 100 Best Workplace, our multidisciplinary teams serve customers across six continents. We are proud to be among the top 15 companies in Information Technology Services in the Fortune 1000 and to be recognized as a leader in the IDC MarketScapes for Worldwide Experience Build Services, Worldwide Experience Design Services and Worldwide Software Engineering Services.

Learn more at www.epam.com and follow us on LinkedIn.

Forward-Looking Statements
This press release includes estimates and statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Our estimates and forward-looking statements are mainly based on our current expectations and estimates of future events and trends, which affect or may affect our business and operations. These statements may include words such as "may," "will," "should," "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. Those future events and trends may relate to, among other things, developments relating to the war in Ukraine and escalation of the war in the surrounding region, political and civil unrest or military action in the geographies where we conduct business and operate, difficult conditions in global capital markets, foreign exchange markets and the broader economy, and the effect that these events may have on client demand and our revenues, operations, access to capital, and profitability. Other factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, the risk factors discussed in the Company's most recent Annual Report on Form 10-K and the factors discussed in the Company's Quarterly Reports on Form 10-Q, particularly under the headings "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" and other filings with the Securities and Exchange Commission. Although we believe that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made based on information currently available to us. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.

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SOURCE EPAM Systems, Inc.

FAQ

What are the 4 new solutions EPAM (NYSE: EPAM) launched with Google Cloud in January 2024?

EPAM launched Video Search and Indexing for media, JenAii™ for retail, Geospatial Data Visualization for energy, and Talk to Your Data for cross-industry data analysis, all powered by Google Cloud's Vertex AI platform.

How will EPAM's partnership with Google Cloud impact its market expansion?

The partnership will enable EPAM to expand in Ibero markets through Neoris acquisition and strengthen financial services across Europe, North America, and APAC through First Derivative acquisition.

What is the purpose of EPAM's JenAii™ solution for retail?

JenAii™ aims to enhance customer satisfaction and boost sales through wayfinding assistance and customer education, while addressing staffing shortages and margin pressures for retailers.

How does EPAM's Video Search and Indexing solution benefit media companies?

The solution transforms unstructured video data into searchable, actionable insights using Vertex AI platform, improving accessibility and audience engagement for both internal and external users.

What technology powers EPAM's Geospatial Data Visualization solution for energy sector?

The solution is powered by Google Cloud Platform and Gemini models, enabling intuitive visualization and analysis of complex datasets for better decision-making in the energy sector.