Infosys Ltd today said it has entered into a joint venture agreement with Saudi Prerogative Company (SPC) for IT services in Saudi Arabia.
Infosys will hold 70 per cent interest in the joint venture while SPC will have the remaining 30 per cent, the company said in a regulatory filing.
The pact is subject to approval of Saudi Arabian General Investment Authority.
Reflecting on the year gone by, Sikka said "Brexit, the
American Presidential election, demonetization, cyber security, the refugee and terrorism situation were the events that seriously changed the way we viewed the world, but perhaps that biggest disruption is the one that has been proceeding irreversibly and unstoppably in our times is the accelerating force of technology and digitization."
Suggesting that by all indications, the future promises to be even more disruptive, especially for Infosys's business, which is impacted by the multiple factors of technological and geopolitical disruption, he said "we will not survive if we remain in the constricted space of doing as we are told, depending solely on cost-arbitrage, and working as reactive problem-solvers."
"By standing still, instead of moving forward decisively, we will face the brunt of these disruptive forces, as our industry has already started to see. A lot of the work that came to us and to others in our industry, can already be done with Al systems," he said.
"...Our path forward is very clear - we need to harness the dual forces of automation and innovation. We must embrace automation to become more productive in the work that we do and with the resulting capacity, focus our attention upwards towards innovation, both for ourselves and our clients. The foundation for all of this is our culture, our values and especially our infrastructure for life-long learning," he added.
