Infosys has placed significant emphasis on artificial intelligence (AI) and generative AI (GenAI) initiatives. The IT firm previously announced its development of 225 Generative AI programs for clients and revealed that more than 250,000 employees have received training in generative AI. GenAI has garnered considerable interest among clients, leading to a substantial implementation of GenAI within Infosys, as stated by chief executive officer Salil Parekh. He reassured that the company does not anticipate any workforce reductions due to the adoption of advanced technologies.
Parekh highlighted that GenAI is exploring novel applications, such as refining credit analysis to enable banks to diversify their product offerings, thereby creating new revenue streams and enhancing productivity. He expressed optimism about the technology’s potential to drive business growth without necessitating staff layoffs. Infosys continues to ramp up its hiring efforts amid evolving economic conditions, evidenced by robust quarterly and yearly growth and successful deal acquisitions.
Acknowledging the critical role of Gen AI, Parekh mentioned that clients are increasingly interested in leveraging extensive language models for business advantages across various sectors, from software development to customer support. Infosys is witnessing significant benefits that clients can derive from such implementations. Although Infosys does not disclose specific revenue breakdowns from generative AI projects, Parekh underscored the company’s strong commitment to establishing itself as an AI-centric organization.
In its pursuit of expansion, Infosys has globally invested in enhancing its digital upskilling programs to include cutting-edge courses on generative AI. The company’s platforms now incorporate GenAI features, as highlighted in its latest annual report. Furthermore, Infosys is actively seeking potential acquisitions following two recent buyouts, aiming to match the scale of recent tech acquisitions. Parekh expressed interest in acquiring firms specializing in data analytics, SAAS, and exploring opportunities in select European and American markets.
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