Lo0go techturning.com

India’s Infosys signs five-year AI deal with $2 bln target spend

India’s Infosys signs five-year AI deal with $2 bln target spend

BENGALURU, July 18 (Reuters) – In a significant development, Infosys, India’s second-largest software services exporter, announced on Monday that it had secured a five-year deal with an undisclosed client to deliver artificial intelligence (AI) and automation services. The agreement, estimated to be worth $2 billion, covers a wide range of AI and automation-related development, modernization, and maintenance services. This move by Infosys is indicative of the increasing global focus on investing in AI, following the widespread popularity and success of Microsoft-backed OpenAI’s generative chatbot ChatGPT, which took the world by storm in late 2022.

The specifics of the client and the nature of the services to be provided have not been disclosed by Infosys. However, the company’s commitment to expanding its AI capabilities is evident. Just a few months ago, in late May, Infosys launched a platform called Infosys Topaz, designed for generative AI. This platform signifies the company’s dedication to advancing AI technologies and leveraging its potential across various industries.

This recent development by Infosys follows closely on the heels of Tata Consultancy Services (TCS) announcement of their plan to train 25,000 engineers and obtain certification on Microsoft’s Azure Open AI. The competition in the AI sector is heating up, and companies like Infosys and TCS are positioning themselves to capitalize on the growing demand for AI solutions. Another major player, Wipro, has also revealed plans to invest $1 billion in AI over the next three years.

With this new deal, Infosys aims to strengthen its position in the AI and automation market and expand its client base. The company’s expertise in providing software services combined with its focus on AI capabilities makes it well-suited to meet the evolving demands of businesses seeking to leverage AI technologies. The $2 billion target spend over five years demonstrates the client’s confidence in Infosys’ ability to deliver impactful AI solutions.

Industry analysts and investors eagerly await Infosys’ first-quarter results, which are scheduled to be reported on July 20. These results will shed more light on the company’s financial performance and the impact of its recent endeavors, including the AI and automation deal.

As the world increasingly embraces AI, companies like Infosys are poised to play a crucial role in driving its adoption and innovation. The transformative power of AI has the potential to revolutionize industries across the board, and it is through strategic partnerships and investments that organizations can harness this power to drive growth, efficiency, and competitiveness in the digital age.


Related Articles