Launched about one year ago, Cognizant created Synapse as a global program to equip individuals with the technology skills they need to be part of the workforce of the future.
TEANECK, N.J., Oct. 29, 2024 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) today announced it has reached more than 275,000 people via its global skilling initiative, Synapse, which launched one year ago in October, 2023. This milestone shows Cognizant is more than a quarter of the way toward reaching the program's goal to advance technology job training for one million people worldwide by the end of 2026.
The rapid progress of Synapse comes at a time when there is a growing desire from organizations to train and redevelop talent. According to new data from Cognizant and Oxford Economics' New Work New World study, more than half (54%) of organizations are focusing on upskilling employees for roles that critically need AI capabilities. However, only 35% of organizations rate their skills and talent as mature, reflecting the challenges in building a workforce equipped for AI.
"AI has created a turning point, where skills are increasingly important versus years of experience and network connections," said Kathy Diaz, Chief People Officer at Cognizant. "We launched Synapse a year ago to draw on Cognizant's longstanding learning DNA to equip individuals with the training they need to be part of tomorrow's workforce – including those in underrepresented populations. I'm energized by what we'll continue to accomplish together as we sharpen the skills of our current workforce and create pathways for new talent."
"Technology is rapidly transforming work and the global economy, so it is vital that we equip and train the workforce to benefit from these advancements as well," said Tobi Young, Senior Vice President and Chief Corporate Affairs Officer at Cognizant. "Through Synapse, we're aiming to skill one million people and prepare them for the opportunities in the future of work. We're excited about our progress and committed to making an impact in skilling and sustaining our local communities."
To address workforce disruptions caused by the rapid advancements of AI, Cognizant designed Synapse so that everyone in the company plays an important role in making an impact – for example, employees take advantage of Cognizant's learning and development courses and volunteer to teach students STEM, while the talent division leads jobseeker training, and philanthropic support goes toward supporting skilling and education programs that align with Synapse's goals.
As Cognizant continues to track towards its goal of training one million individuals through Synapse, it is making progress against five strategic focus areas:
Skills Accelerator: The Synapse skills accelerator aims to build a high-quality skilled workforce proficient in emerging technologies like generative AI (Gen AI.) It's intended to equip jobseekers with in-demand tech skills through innovative, sponsored upskilling programs, as well as build a pipeline of experienced and emerging talent that meets today's hiring demands from Cognizant and its Synapse partners. To date, more than 5,000 individuals have participated globally, and the program has successfully provided training across multiple technology stacks.
Technology Partnerships: Cognizant is partnering with companies like Microsoft and Google to expand Synapse's reach. Through a global partnership with Microsoft, more than 76,000 Cognizant developers have been trained on Github Copilot. Cognizant has also adopted Gemini for Google Cloud to enhance the productivity of its software developers. This initiative aims to enable more than 70,000 associates to leverage Google Cloud's latest AI technologies. Additionally, Cognizant has opened collaboration centers worldwide, with more than 32,000 associates set to undergo training on Google AI technology.
Apprenticeships: Cognizant's apprenticeship program is designed as an earn while you learn experience that provides structured learning and on-the-job training to build skills and advance careers across Cognizant's service lines. Through partnerships with universities, community colleges and workforce development groups, Cognizant's apprenticeships aim to train thousands of entry-level associates and mid-career professionals with IT and AI skills. Since launching the apprenticeship program, Cognizant has registered more than 600 apprentices, of which more than 460 have graduated from the program.
Community Education: Through philanthropic grants, volunteerism, mentoring, and education partnerships, Synapse's community education programs have impacted more than 97,000 individuals worldwide to date. Through grants to community organizations alone, Cognizant has committed nearly $13 million and upskilled more than 40,000 individuals. Through these grants, Cognizant anticipates skilling nearly 230,000 people by the end of 2026. Additionally, more than 2,800 Cognizant associates have dedicated nearly 19,000 hours to skilling-based volunteering projects since Synapse launched, impacting more than 17,000 people.
Employee Skilling: A major risk of the rapidly evolving AI age is that companies could leave their employees behind. In the first year of Synapse, Cognizant has trained more than 195,000 associates worldwide on cutting-edge Gen AI skills through more than 300 learning pathways and technology partnerships. Cognizant has also launched a global Gen AI skilling program, developed in collaboration with Google, Microsoft, Amazon Web Services, Salesforce, SAP, and Oracle, that offers cutting-edge content to improve technical skills for employees and individuals outside of Cognizant. More than 2,000 of Cognizant's leaders have completed a curated learning path focused on Gen AI awareness and leading the change.
To learn more about Synapse, visit the website here.
About Cognizant
Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes, and transform experiences to stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant.
Forward-Looking Statements
This press release includes statements that 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. These statements include, but are not limited to, express or implied forward-looking statements relating to the effectiveness and results of our Synapse initiative, including our ability to build a consortium of partners for the training program and the number of individuals we expect to reach with the initiative. These statements are neither promises nor guarantees but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, the competitive and rapidly changing nature of the markets we compete in, the competitive marketplace for talent and its impact on employee recruitment and retention, and the other factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Cognizant 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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