With a major push from its India hubs, US-based IT firm Marlabs expects to grow its data and Artificial Intelligence (AI) segment by 50 per cent in the next two to three years.
“Most of our case studies are designed in India. Our front-end may be in the US, but the core of AI engineering or data engineering is done in India at Marlabs. For our new project, most of the employees are from our core locations – Bengaluru and Pune,” said Thomas Collins, CEO of Marlabs.
In line with expectations, the company aims to become an AI-first company by 2027.
Marlabs’ business model is divided into four segments: data and AI, product engineering, infrastructure and plants, and talent services, where it provides resources. The company’s data and AI continue to grow at a double-digit rate, while the product engineering part is experiencing high single-digit growth.
In January, Collins announced Marlabs plans to hire about 500 employees in India to double revenue growth over the next three years. The company currently has about 1,500 employees in the country.
Focusing on India, Collins highlighted the nation’s importance in terms of its talent pool. A large chunk of AI engineers are from India and are spread across four locations: Bengaluru, Mysuru, Kochi and Pune.
“In terms of operations, India is the heart and core of the company. We run the company globally from India. Support functions such as finance, HR, marketing, IT, etc. are specifically located in Bengaluru. We plan to grow those teams as our company grows,” Collins said.
Speaking about macroeconomic tailwinds, Collins said the impact of global macroeconomic uncertainty is significant on the latter two segments, as the first two are based on our customers’ innovative products.
“AI has seen a huge boost over the past 18 months. However, many customers want to save costs in day-to-day operations. So for us it’s pretty much a draw: growth on one side and reductions on the other,” he said.
Additionally, on the operational front, Collins emphasized that life sciences and healthcare are key verticals for Marlabs. He noted that the firm is helping a major life sciences client develop AI solutions for clinical trials and improve efficiency at one of the world’s largest hospital chains.
Marlabs expects the impact of global tailwinds to improve in the third quarter of fiscal 2025. “The third quarter would be one of our strongest quarters in a long time. We expect significant growth. It is not necessarily linked to the economy, but has a lot to do with our shift in focus in terms of data AI and product engineering. At present, we see the merits and benefits of the Onebridge acquisition driving synergies, capabilities and growth.”
On the plan for India, Collins said, “We have offices in three locations in Bengaluru and we would like to use the one we have currently. We want to bring people back to the offices so we can collaborate more. We plan to expand the teams in the existing offices and not add locations.”
First published: August 19, 2024 | 00:02 IS
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