The Indian Information technology (IT) services company Infosys declared its first quarterly results on Thursday (20 July 2023).
Along with the financials of the company, Infosys' chief executive officer "Salil Parekh" spoke about its plans with generative artificial intelligence tools and software.
The company currently has 80 active projects in this domain and is training 40,000 employees on generative AI-specific skills.
“We are working with clients on both open-source and proprietary generative AI platforms. Our training is on many of these different platforms. We have built some tools on open-source platforms that we are using internally in areas where we do software development. We are becoming an AI-first company, where we use these tools internally as well as externally,” said Parekh.
In June, at Infosys' 42nd Annual General Meeting, company chairman Nandan Nilekani also spoke about the AI-first strategy. He then said that this strategy is working for Infosys despite several practical and ethical issues.
Notably, two days before the FY24 Q1 results declaration, Infosys said that it has signed a $2 billion AI and automation deal with an existing client, to be spread over the next five years.
Infosys also has its own suite of AI-first offering called Topaz, which was unveiled in May. “It brings the advantage of 12,000+ AI use cases, 150+ pre-trained AI models, 10+ AI platforms steered by AI-first specialists and data strategists, and a ‘responsible by design’ approach that is uncompromising on ethics, trust, privacy, security, and regulatory compliance,” a company blog said.
The FY24 Q1 results announcements kicked off last week. Companies like Tata Consultancy, HCL Technologies, and Wipro have reported investments in generative AI.
For instance, HCL Technologies is reported to have more than 70 projects at various stages from proof of concept to implementation. The company is also training more than 20,000 employees on generative AI capabilities.
HCL has launched generative AI labs in three locations globally. Similarly, Wipro announced the launch of end-to-end AI ecosystem called ai360 along with $1 billion investment over three years.
