Firstsource Solutions shares experienced a significant increase of 10% to Rs 344 during morning trading on October 23. This surge was a result of the company's announcement regarding a strategic initiative to develop a domain-centric large language model (LLM) specifically tailored for the U.S. mortgage industry.

The aim of this initiative, which is part of the Firstsource relAI suite, is to enhance the mortgage process by incorporating AI-driven capabilities such as credit assessments, loan quality checks, and document digitization. The newly developed LLM is designed to streamline the pre-qualification and formal loan application processes, providing borrowers with a seamless digital experience. By combining self-service convenience with personalized support from loan officers, Firstsource Solutions aims to improve efficiency in loan processing, demonstrating its commitment to utilizing technology in the financial services sector.

The company's stock has shown remarkable growth, with an increase of 84% since the beginning of 2024.