In a significant development, Infosys, one of India’s leading IT services companies, has witnessed robust client interest in Generative AI (GenAI).
CEO Salil Parekh recently shared insights into this trend, emphasizing the company’s commitment to innovation and growth. Let’s explore the details.
Generative AI: The New Frontier
Generative AI, often referred to as GenAI, represents the cutting edge of artificial intelligence.
Unlike traditional AI models that rely on predefined rules and patterns, GenAI can create new content—whether it’s images, text, or other forms—based on existing data.
It’s like having an AI that can dream up novel solutions.
Infosys Approach
Here’s what we know about Infosys’s GenAI journey:
Client Interest: Infosys’s clients are showing remarkable interest in GenAI. The technology promises to transform various aspects of business, from automating processes to enhancing customer experiences.
Training the Workforce: Infosys has taken a proactive approach by training over 250,000 employees in GenAI. This investment ensures that the company is well-prepared to deliver innovative solutions to its clients.
No Layoffs Expected: Salil Parekh made a bold statement: Despite the rapid adoption of GenAI, Infosys does not foresee any layoffs due to this technology. This assurance reflects the company’s commitment to its workforce even amidst technological shifts.
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“We have no new update. The status is as it was in terms of what we shared externally a few days ago,” Sahil said when asked if the company will be making provisions for the same, given the demand in back taxes dating back several years.
“So we think this will accelerate as time goes on but we will wait-and-watch how it develops,” Sahil added
It is a bit like, some years ago we started with digital or with cloud… these things start-off in a certain way… and then we see what benefits clients are getting. If they see benefits are substantial, more and more adoption will happen,” he added.
Comparing GenAI Adoption to Digital and Cloud Trends
Sahil drew parallels between GenAI adoption and the earlier waves of digital and cloud technologies. Just as digital transformation and cloud migration became industry norms, GenAI is poised to follow a similar trajectory.
As enterprises experience tangible benefits—such as improved efficiency, personalized recommendations, and cost savings—they are likely to embrace GenAI wholeheartedly.
Beyond Infosys: GenAI’s Broader Impact
GenAI isn’t limited to Infosys alone. Across industries, businesses are exploring its potential:
Financial Services: Banks are using GenAI for credit analysis, risk assessment, and fraud detection. The technology fine-tunes algorithms, leading to better decision-making.
Healthcare: GenAI aids in medical imaging, drug discovery, and patient care. It accelerates research and enhances diagnostics.
Retail and E-Commerce: Personalized recommendations, supply chain optimization, and demand forecasting—all powered by GenAI—are reshaping the retail landscape.
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While Infosys rides the GenAI wave, it also faces a significant challenge. A USD 3.9-billion Goods and Services Tax (GST) tax demand.
However, Sahil clarified that the company has already communicated updates to the market and has no further information to share at this time.
“The third area is when clients have knowledge-objects whether it is in, say a bank’s credit department, in a manufacturing company in product elements, or what products to use, or in a telco in, say, pricing of their programmes…” he added.
anywhere there are knowledge elements and objects and ways to leverage them in more efficiently… generative AI becomes very useful,” Sahil said.
Conclusion
Infosys’s commitment to GenAI underscores its position as an industry leader.
As such, companies cutting across various industries, are today keen to use generative AI tools to solve business challenges, automate repetitive tasks and customise and personalise customer interactions. They will be squeezing more out of sales and marketing efforts, code generation, and enhancing enterprise and organisational efficiencies.
In fact, Infosys Chairman Nandan Nilekani in Infosys’ latest annual report penned a note on ‘What’s next for the generative AI revolution’.
The industry veteran emphasised that gen AI revolution presents an “unrivaled opportunity”. The flux of change with the whole technological landscape being reset, will create many large openings.
As the technology matures, we can expect more success stories and transformative solutions emerging from this powerhouse of innovation.
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