'To focus on an AI-first strategy....' See what Infosys' boss said in their annual report

Indian IT company Infosys highlighted over 20% revenue growth, strong profits and generative AI capabilities with Infosys TopazTM in its 2022-23 annual report. CEO Salil Parekh emphasized the company’s resilience in digital, cloud, automation and cost efficiency to position itself despite global economic challenges.

Updated June 4, 2023 | 6:24 PM IST

Infosys revenue grew 20.7% year-on-year to Rs 1.46 billion (Photo: IANS)

Indian IT giant Infosys released its 2022-2023 annual report on Saturday, explaining how the company has managed to position itself despite global economic challenges. The reports all talked about the company’s future plans, new possibilities, AI-first strategies, and more.

Infosys’ revenue rose 20.7 per cent year-on-year to Rs 1.46 billion in fiscal year 2023, according to its annual report. The company’s profit increased by 8.9% year-on-year to Rs 24.18 billion.

EBIT increased by 9.53 per cent to Rs 30.95 billion.

Net profit increased by 8.9% to Rs 24.18 billion.

At constant currency, the company grew by 15.4%. Digital revenue accounted for his 62.2% of total revenue.

In terms of deals, Infosys won 95 large deals with a total contract value of $9.8 billion. He has 40 clients with over $100 million in annual revenue, 75 of which are worth more than his $50 million.

“We deliver powerful generative AI capabilities through Infosys TopazTM to help our clients unlock value. In FY23, we outperformed our peers in total shareholder return over the last five years,” said CEO. said Salil Parekh of

According to Infosys’ 2022-23 annual report, Parekh also warned against global headwinds, but emphasized the company’s resilience in digital, cloud, automation and cost efficiency.

“Despite global economic challenges such as inflation and changing demand, our digital, cloud, automation and cost efficiency strengths position us well, which will continue to be important in the evolving economic climate. We will continue,” Parekh said in a letter to shareholders.

Meanwhile, Infosys Chairman Nandan Nilekani spoke about the possibilities and risks associated with generative AI, saying that scaling AI across the enterprise is a non-linear process.

“Our CEO and management team recognize the value of AI, including generative AI, and the cloud in envisioning and executing on future options,” he said.

“We prioritize human resource development through our agile learning platform, digital-first and AI-first business architecture. Insosys follows an AI-first strategy and leverages Infosys TopazTM to accelerate business value and human ,” he added.

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