Thiruvananthapuram, July 09: IBS Group is all set to launch of a new vertical AI
company purpose-built for the global travel industry, marking a major milestone in the
Group’s long-term strategy to achieve leadership position in the travel-tech industry
worldwide.
The AI company– Naviq Technology, will leverage the decades-long deep travel
industry expertise of IBS Software with AI-first innovations to help customers
transform their business by improving operational efficiency, personalising end-user
experiences, and unlocking new revenue opportunities. Naviq Technology will operate
independently from its affiliate companies within the IBS Group.
Chief Minister Shri V D Satheesan will inaugurate the new campus of Naviq Technology
in Infopark, Kochi on July 23.
Announcing the launch of the new company at a press conference here today, Shri V K
Mathews, Founder and Executive Chairman of IBS Group, said “The global travel
industry is at a turning point, with organisations seeking smarter ways to operate and
future-proof their businesses. Naviq Technology gives the market something it has not
had before: a technology and consulting company that understands the complexities of
global travel, anticipates industry challenges, and offers transformative solutions at
scale using specialised AI tools. Backed by IBS Software’s deep expertise in travel
technology, Naviq Technology will help travel achieve greater agility, efficiency and
growth, and open new revenue streams”.
With this launch, IBS Group is now uniquely positioned to deliver significant business
value to its clients in the travel sector by combining its decades-long domain expertise
with the potential of AI to magnify business outcomes. This is the rationale behind the
formation of Naviq Technology.
Naviq Technology will partner with leading global airlines, airports, cruise lines,
vacation providers, and hospitality groups to lead large business transformations,
modernise operations, adopt AI at scale to create new revenue streams, and shorten
time-to-value. Naviq Technology will start operations immediately, with over 16 offices
across the globe already established. The new company will operate as an independent
business entity complementing and leveraging IBS Software’s global customer network
and decades of experience in the travel industry.
The company is designed to attract a new generation of travel technology talent from all
over the world – AI researchers, data scientists, and subject matter specialists –
providing them a unique opportunity to work at the intersection of travel domain
technology and applied AI.
Congratulating IBS on launching Naviq Technology, Shri Rajesh Nambiar, President of
NASSCOM, the industry body of IT companies in India, said AI is shaping every single
sector now and it will enable companies to establish resilient enterprises.
Shri Moizur Rahman, President, Naviq Technology, was also present.
Naviq Technology’s focus will be on areas where the travel industry will see the biggest
investment in the coming years – AI adoption at scale, customer experience transformation, and data as the fabric for everything for intelligent operations. Its delivery model will make implementations faster and reduce the time to value.
For IBS Software clients, Naviq Technology serves as the preferred implementation and
transformation partner. Naviq Technology’s business plan envisages rapid growth from
its 16 centres worldwide, headcount growing to over 5,000 high-tech professionals in
the next five years. IBS Group will invest significantly over the next five years to
augment capabilities and grow the business.
