The share price of Birlasoft jumped 12 percent to hit its 52-week high on Wednesday after the firm partnered with Regulativ.ai to co-develop AI-led cybersecurity assessment platform. This will mainly be for global banking, financial services, and insurance customers.
Digital transformation has unleashed a high volume of cyber threats, making cybersecurity and compliance a top priority for CXOs, and making it critical for businesses to ensure their cyber-regulatory compliance roadmap is in place, Birlasoft said in a press release.
The stock rose as much as 11.9 percent to its 52-week high of Rs 421 per share on the BSE.
"The co-development of an AI/ML-based industry-revolutionizing platform will help customers streamline and automate their cybersecurity regulatory assessment and reporting, leverage the power of new-age digital technologies, deliver significant cost savings, and near real-time view of compliance to cyber regulations, as well as rich analytics," it said.
The CK Birla Group believes that the Regulativ.ai platform fits well with the company’s focus to grow the banking, financial services, and insurance segments, where cybersecurity is a key focus.
In addition, as organisations across other regulated industries accelerate their digital transformation, cybersecurity becomes fundamental for future business resiliency, it added.
"In alignment with Birlasoft’s strategy to ensure customers realize utmost value from their digital transformation initiatives, the co-developed platform will help regulated enterprises gain a deeper understanding of their cyber regulatory compliance risks and provide them with actionable reports to mitigate risks and ensure compliance," the company stated.