Key Takeaways:

• Grid Dynamics will partner with Google to implement Google Cloud LLMs and Vertex AI solutions.
• The expanded Grid Dynamics relationship with Google Cloud reflects the company's position as an industry leader in AI and enables the company to accelerate the development of innovative, industry-specific AI solutions for global enterprises.
• The relationship with Google Cloud empowers the recently unveiled Grid Dynamics GigaCube growth strategy framework, which identifies strengthening its partner ecosystem to drive innovation as one of the keys to the company's long-term success.

SAN RAMON, CA / ACCESSWIRE / June 6, 2023 / Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) (Grid Dynamics), a leader in enterprise-level digital transformation services and solutions, today announced a major expansion of its partnership with Google Cloud to develop advanced generative AI capabilities and solutions. Grid Dynamics will partner with Google to develop and implement Google Cloud generative AI solutions for enterprises - a reflection of Grid Dynamics' position as an industry leader in AI. The newly expanded relationship with Google Cloud around generative AI underscores the key pillars of innovation and industry expansion central to Grid Dynamics' GigaCube 1 billion dollar growth strategy framework.

Grid Dynamics will leverage Google Cloud's Vertex AI platform, which now includes generative AI capabilities, such as powerful foundational large language models (LLMs) and advanced image generation capabilities. As an end-to-end ML platform, Vertex AI can significantly accelerate generative AI projects, and the Industry-specific PaLM2 family of LLMs will greatly assist in developing innovative solutions across Financial Services & Insurance, Manufacturing, and Life Science/Pharma industries.

The Grid Dynamics generative AI practice and the company's R&D team at Grid Labs are developing industry-specific solutions and starter kits, bringing users new AI-powered features and experiences, and solving complex business challenges for global enterprises. This collaboration with Google Cloud around generative AI reflects the Grid Dynamics culture of engineering excellence and its commitment to innovation and growth.

'Generative AI is a groundbreaking technology with immense potential to revolutionize business functions, unlocking exponential benefits for enterprises that harness its power effectively. We believe in its disruptive force at Grid Dynamics and are committed to exploring practical applications across industries through our dedicated Grid Labs. With our deep investment in research and innovation, we are poised to lead the way in leveraging Generative AI for transformative growth', said Rahul Bindlish, VP of Strategic Business Development at Grid Dynamics. 'We are thrilled to collaborate with Google, a global leader in Artificial Intelligence. This collaboration sets the stage for a transformative journey, enabling enterprises to reshape key business processes and create substantial value.'

'We look forward to working closer with Grid Dynamics as they expand their use and application of Google Cloud's generative AI solutions,' said Jim Anderson, Vice President, NA Partners Ecosystem & Channels at Google Cloud. 'Together, we can help organizations become more AI-enabled securely and responsibly.'

Generative AI can be applied to numerous cross-industry use cases, including customer service, knowledge and training assistant, data querying and summarization, data harmonization, code generation, and content creation, amongst many others. There's also an abundance of compelling, industry-specific use cases for generative AI, including product attribution, conversational product discovery, legacy code modernization, digital twin contextualization, and procurement contract analysis, to name a few. Through its collaboration with Google Cloud, Grid Dynamics will build various cross-industry and industry-specific, generative AI-powered capabilities and solutions. These new capabilities will be available to clients in 2023. Visit this page to learn more about the Grid Dynamics relationship with Google Cloud.

About Grid Dynamics

Grid Dynamics (NASDAQ:GDYN) is a digital-native technology services provider that accelerates growth and bolsters competitive advantage for Fortune 1000 companies. Grid Dynamics provides digital transformation consulting and implementation services in omnichannel customer experience, big data, analytics, search, artificial intelligence, cloud & DevOps, and application modernization. Grid Dynamics achieves high speed-to-market, quality, and efficiency by using technology accelerators, an agile delivery culture, and its pool of global engineering talent. Founded in 2006, Grid Dynamics is headquartered in Silicon Valley with offices across the US, Mexico, UK, Europe, and India. To learn more about Grid Dynamics, please visit www.griddynamics.com. Follow us on Facebook, Twitter, and LinkedIn.

Forward-Looking Statements

This communication contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are not historical facts, and involve risks and uncertainties that could cause actual results of Grid Dynamics to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words 'believes,' 'estimates,' 'anticipates,' 'expects,' 'intends,' 'plans,' 'may,' 'will,' 'potential,' 'projects,' 'predicts,' 'continue,' or 'should,' or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include, without limitation, quotations and statements regarding our partnership with Google Cloud, the benefits of generative AI, our product capabilities, our GigaCube growth strategy framework and our company's future growth.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside Grid Dynamics' control and are difficult to predict. Factors that may cause such differences include, but are not limited to, any factors limiting our partnership with Google Cloud, our product capabilities, the benefits of our products, and our company's growth and growth strategy.

Grid Dynamics cautions that the foregoing list of factors is not exclusive. Grid Dynamics cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Grid Dynamics does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. Further information about factors that could materially affect Grid Dynamics, including its results of operations and financial condition, is set forth under the 'Risk Factors' section of the Company's annual report on Form 10-Q filed May 4, 2023, and in other periodic filings, Grid Dynamics makes with the SEC.

Media Contact:
Cary Savas
+1 (650) 523 5000
csavas@griddynamics.com

SOURCE: Grid Dynamics