(RTTNews) - Shares of adesso SE (ADN1.DE) were gaining around 6 percent in the morning trading in Germany after the IT services provider Tuesday said it has achieved its sales target for Generative Artificial Intelligence or GenAI business for 2024 already in August.

Going ahead, the company anticipates a further increase in demand for GenAI solutions at the end of the year and aims to double its current revenue by the full year.

With more than 100 GenAI projects completed in August, the firm has already reached its target for the calendar year 2024. adesso's GenAI customers include EnBW, RWE and BayernLB.

Adesso noted that the market for solutions based on GenAI is still developing compared to traditional AI approaches, and promises high growth potential for market participants.

Benedikt Bonnmann, Member of the Executive Board and expert for artificial intelligence, adesso SE, said, "After a long exploratory phase, our customers are now tackling real projects for the practical use of generative AI. This is where we can offer them real added value with our existing expertise. Whether models from OpenAI, Meta, Google, Aleph Alpha or other providers, we always have the right solution for their requirements."

In Germany, adesso shares were trading at 72.20 euros, up 6.03%.

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