Mahindra Group has named Devendra Sharnagat as the Senior Vice President of its AI Division. In this role, he will lead the centralised data and AI expertise pool, driving AI initiatives across the group’s companies.
Previously, Sharnagat served as chief data and analytics officer at Mahindra Finance, where he spearheaded data analytics functions to enhance business efficiency and productivity.
With career spanning roles at Direxions Marketing Services, HDFC Bank, and Kotak Mahindra Bank, Sharnagat brings extensive experience in data-driven decision-making. At HDFC Bank, he managed analytical projects across various financial portfolios. His expertise is expected to accelerate Mahindra Group’s AI strategies.
As the former Assistant VP of Marketing Analytics at HDFC Bank, Sharnagat headed a team of business analysts, overseeing analytical projects across portfolios such as Liability Products, Direct Banking Channels, Premier Banking, Depository Services, Forex Services, and Prepaid Cards. His primary role involved developing strategic analytical frameworks to achieve the annual business goals for these portfolios.
In September, Mahindra Group announced the launch of a dedicated AI unit, aimed at integrating AI into various business operations. This strategic move seeks to centralise AI efforts, positioning the division at the corporate level to serve all group companies, including Mahindra & Mahindra (automotive), Mahindra Lifespace (real estate), and Mahindra Holidays (hospitality).
Bhuwan Lodha, who previously led digital operations in Mahindra’s automotive business, is head of the new AI division. Initially, the division will source AI talent from within the group’s companies. “AI projects became side hustles for every IT team in every company. Now we are bringing it mainstream,” Lodha explained, emphasising the focus on consolidating AI initiatives.
The AI division will also collaborate with Tech Mahindra, the group’s IT services arm which has been actively working on building AI models in India such as Project Indus, to leverage domain expertise and global innovations from startups and universities.
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