BENGALURU: Bengaluru-based information technology major Infosys has created a blueprint to solve industry-specific challenges through artificial intelligence (AI) and has now positioned itself as an AI-first company.
At the company's 43rd annual general meeting on Wednesday, Chairman Nandan M. Nilekani told shareholders that the focus is on leveraging an “AI-first strategy” to accelerate business value. The company has already drafted 23 AI-driven tools and is currently working on 225 other generative AI programs for clients. Infosys is also gearing up for the next phase of automotive innovation in software-defined vehicles, he added.
With this focus, the company is aggressively hiring and upskilling talent with generative AI skills, further bolstered by 50,000 reusable intelligent services that are applied across more than 25,000 instances. “From the ground up, Infosys has built strong, domain-relevant enterprise AI capabilities,” says Nilekani.
The company has made a number of acquisitions both locally and internationally, including in-tech, inSemi, Danske IT and Support Services, to support its platform. Infosys Topaz is an AI-first set of services using generative AI technology, while Infosys Cobalt provides cloud solutions to enterprises. As it continues to grow in the IT services space, the company aims to leverage AI to take enterprise productivity to the next level.
As analysts have noted in the past, securing a significant deal has become essential for the company to move forward given its weak revenue growth outlook for the current fiscal year. In this pursuit, the company has clearly identified AI as the way forward.
Nilekani is quick to point out that, like other general-purpose technologies, people are embracing AI’s positive potential: “Looking at the broader business environment, we are now in the second year of the generative AI revolution and the initial AI pessimism has subsided,” he emphasized.
Nilekani also discussed the company's performance for FY24, pointing out that the company paid Rs 48 per share as annual dividend, in line with its policy of returning about 85% of free cash flow cumulatively over five years.
Published June 26, 2024 22:38 IST
