Indian IT services giants Tata Consultancy Services (TCS) and Infosys unveiled major plans to monetize their generative AI capabilities during their Q4 FY23 earnings call last week. This is due to the growing popularity of ChatGPT, OpenAI’s chatbot.
Infosys CEO and MD Salil Parekh said at the company’s Q4 2023 earnings call on Thursday.
A similar thought was shared by N Ganapathy Subramaniam, COO of TCS. “I think generative AI as a technology is very interesting,” he said.
Infosys’ Parekh also said the company is currently working on several projects using AI capabilities.
“We leverage our generative AI capabilities internally with our clients. We have active projects with clients that address specific areas within their businesses using our generative AI platform.” said Parekh.
It’s worth noting that Infosys, along with other investors, donated $1 billion to OpenAI in 2015. OpenAI trained the chatbot ChatGPT on the GPT language model. Its latest version is GPT4.
Parekh explained that the company’s AI models are trained on an in-house software library.
“We trained an open-source generative AI platform on our in-house software development library,” Parekh said.
But can AI tools created by Indian IT services companies compete with ChatGPT, NotionAI, Midjourney, etc.? Probably not, experts and company executives say.
First of all, experts say India’s IT may be lagging behind the AI party and may be better suited to build on AI systems than to build them from scratch. I believe there is.
Kotak Institutional Equities said in one of its reports:
The company’s management emphasized that the tools they create are most likely to meet the needs of their clients and have specific areas of expertise.
Subramaniam said: “We expect to build a certain level of expertise in AI capabilities on our toolset and continue to meet client expectations.”
In a conversation with Business Today last week, the TCS COO talked about the various automation tools the company has created to meet client needs.
He said, “TCS BaNCS, 95% of the code in TCS BaNCS is completely generated based on very high-level prompts we make about the high-level specifications we create.”
Also read: TCS Q4 FY2023: Why did the company’s QoQ continuous growth rate fall short of its target? – Business Today
Also Read: TCS, Infosys Wipro: Impact of Credit Suisse, SVB Collapse on India’s IT Sector – BusinessToday
