 "Infosys sharpens focus on generative AI, open to acquisitions: Parekh")
Infosys is rolling out artificial intelligence (AI)-first strategy with a sharp focus on generative AI, the company’s Chief Executive Officer and Managing Director Salil Parekh said at the 42nd annual general meeting held virtually on Wednesday.
Infosys is also open to making strategic acquisitions across different sizes in Cloud and AI framework, informed Parekh. Last year, Infosys acquired BASE life science, a consulting and technology firm in the life sciences industry in Europe, to scale up its digital transformation capabilities with Cloud-based industry solutions.
“We are looking more carefully at the future of acquisitions,” said Parekh.
Infosys recently launched Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies. Topaz converges the power of Cobalt, its Cloud platform-solution, and data analytics to help businesses drive AI and deliver cognitive solutions and intuitive experiences.
Infosys is currently working on 50 active client projects in generative AI, and “this is becoming an increasing part of the new world which is going to be defined on an AI-first basis. We have also built a very strong group of ecosystem partners who we work with”, said Parekh.
The company’s Cloud capabilities have helped create the foundation for our clients to build their AI-first business, said Infosys Chairman Nandan Nilekani. However, he cautions that “the immense potential of AI and, more recently, advances in generative AI, we know from our own experience of rapidly evolving into an AI-first enterprise, are not without their share of complexities”.
Nilekani told shareholders that Infosys would use AI in a “responsible” manner and follow all the regulations associated with it.
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“The AI-first strategy we have embraced is already working for us. We have redesigned our organisation to judiciously balance people, technology, and process while also executing work by segmenting it into cognitive tasks. Today, we can bring to our global clientele the same ability to accelerate business value and amplify human potential using AI technologies with Infosys Topaz,” said Nilekani.
The Infosys management was unanimous in the view that AI will not replace human jobs but complement them. Parekh said that Infosys had seen a 10-30 per cent productivity improvement using AI internally and with clients.
Nilekani said that Infosys has successfully institutionalised the ‘One Infosys’ approach to “position the company to work with clients both for their long-ranging digital transformation and for cost-efficiency and resilience programmes that are of vital importance for them to thrive in the near term”.
Commenting on the new opportunities ahead of them, Nilekani said, “The digital transformation of every industry and every aspect of life, over the last several years, has laid the foundation for the opportunities that are to emerge.”
THE FUTURE IS IN CLOUD
- Recently launched Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies
- Currently working on 50 active client projects in generative AI
- It has seen a 10-30% productivity improvement using AI
- Infosys Cobalt has helped create the foundation for clients to build AI-first businesses
- Open for acquisitions across different sizes in the Cloud and AI framework