Puneet Jain : Thank you.
Bin Chiang: Thank you, Puneet. Our next question comes from Josh Siegler from Cantor Fitzgerald. Please go ahead.
Josh Siegler : Yes, hi. Thanks for taking my question today. First, I’d like to start on AI, just given its significance, and obviously it’s gaining a lot of traction. So, are you seeing any specific interest from any 1 vertical over another for AI solutions, or is it broad demand? And further, you know, is Grid’s AI solutions helping to provide a nice strong pipeline for future new logo additions?
Leonard Livschitz: Okay. Well, the area we’ve been known for a very long time with the retail, the bespoke brands, the more of the B2C side of business, the momentum is enormous, because the results are easy to verify on a very short-term, right? So, we’ve been leaders in natural language processing for a long time, and now when it comes to large language models, we continue to be in a leadership position. So, that space, just from the percentage of our businesses, is pretty significant. The upcoming and expanding the business in the supply chain, that’s obviously, it’s a subset of the manufacturing, it’s becoming more and more substantial for us. We see the notable momentum in the life science, that’s certainly a big momentum, which is going to be what I tell my team, with or without us.
So, we’d better be sharpening our pencils with a custom bespoke models for them, which we are in the early stage, but it’s working. And the area of the, pretty much everything by, but the tech itself, and the reason I want to emphasize the tech part is, because we are together partnering to provide the solutions for the enterprise AI. So, enterprise AI really falls on the enterprise side, the tech companies have their own models, right? So, there is a combination of the open source models, and the proprietary models with the manufacturing, and the fintech, and what I said, the life science is becoming more and more trend. Those two would be very competitive races, which would participate on both sides with the partners. And the other part which becomes very critical for us is actually cybersecurity.
We’ve been investing into cybersecurity for a while, now it becomes even more critical where some of the notable AI discoveries are happening simultaneously with a massive number of data sets being provided. And finally, the cloud is one part of it, but a lot of computational and capable capabilities will run on a defined and continue to grow enterprise. And working on enterprise capabilities become more and more critical. So, it’s really attacking from all the fronts, and we are very bullish in terms of our positioning with our partners.
Josh Siegler : Understood. That’s helpful color. Thank you very much. And then in your prepared remarks, I believe you mentioned driving higher utilization from your employees, which is helping to foster those higher gross margins. Can you provide some more color on this? And do you expect these levels of elevated utilization to remain as we move into the back half of 2023?
Leonard Livschitz: Well, it’s never good enough, right? You’re building your business momentum and you always think about what is going to be the business momentum to the next level when the inflection point does hit a material return to growth. So, we are doing massive retraining of the people. But at the same time, our own predictable models, which we build internally in terms of understanding the probability and variance of the business, help us to tailor better the skill sets of the people. So, in other words, when we get projects going, we have much lower level of delays between turning people into profitable business versus the involvement then into intro to new project. And it’s notable when you get a new enterprise clients, you can’t wait for months till the people become trained and capable to implement.
