Infosys Chairman Nandan NilekaniInfosys is working on 225 Generative Artificial Intelligence (Gen AI) programmes for clients, Infosys Chairman Nandan Nilekani said on June 26.
He further said that the Bengaluru-based company has integrated Gen AI components into its entire service lines and developed 25 playbooks to create impact for clients.
“Our clients are combining it with cloud capabilities in Infosys Cobalt to help them scale AI,” Nilekani said at the AGM.
He said people have accepted Gen AI like any other general-purpose technology be it electricity, nuclear energy, the internet, or even a discovery like fire.
Firstly, the focus is on the newly emerging area of Gen AI.
Infosys Chairman Nandan Nilekani
Infosys is working on 225 Generative Artificial Intelligence (Gen AI) programmes for clients, Infosys Chairman Nandan Nilekani said on June 26.
Addressing shareholders at the company’s 43rd Annual General Meeting, Nilekani said Infosys has also created 23 AI industry blueprints to solve industry-specific challenges. He further said that the Bengaluru-based company has integrated Gen AI components into its entire service lines and developed 25 playbooks to create impact for clients.
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Infosys has filed 46 AI patents till the financial year 2023-24, a slide in the company's presentation showed.
“Our clients are combining it with cloud capabilities in Infosys Cobalt to help them scale AI,” Nilekani said at the AGM.
He added that enterprise AI is a lot more complex than consumer AI. "It will require a root and branch surgery of the multi-generation technology that lies within firms," he added.
This would require quality of output to be managed to ensure factual responses and insights with no hallucinations, Nilekani said. "Given that the leaderboard of technologies is changing at a bewildering pace, enterprises will also need to simultaneously ‘future proof’ their AI infrastructure."
Together with Infosys Topaz and the recent acquisition of InSemi’s semiconductor expertise, Infosys wants to create deeper capabilities for the next phase of automotive innovation in software-defined vehicles (SDV).
In January, Infosys said it will acquire InSemi, a leading semiconductor design and embedded services provider. The IT firm will pay Rs 280 crore for a 100 percent stake in the firm.
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Also read: How Infy, HCLTech, Wipro and Tech Mahindra are walking the semiconductor talk
The AGM’s agenda — along with the approval of financial statements — also included the reappointment of CEO Salil Parekh and the approval of his new compensation.
“As we look at the larger business environment, we are now into the second year of the generative AI revolution, and the initial AI doomerism has quietened down," Nilekani added.
He said the rise of powerful open-source AI models has also accelerated the deployment of AI to solve tough business and societal challenges. "As we move into more use cases, a thousand flowers will bloom."
He said people have accepted Gen AI like any other general-purpose technology be it electricity, nuclear energy, the internet, or even a discovery like fire. “Gen AI has enormous potential for good when advanced within the guardrails of responsibility,” Nilekani said, adding that, “It is also clear that there won’t be a scenario where we’ll have ‘one model to rule them all.”
Nilekani said that as part of its own early journey to becoming an AI-first enterprise, Infosys is breaking down tasks into sequential small wins, taking the ‘responsible by design’ approach. "This has been our AI-first strategy to accelerating business value and amplifying human potential. Nearly 50,000 reusable intelligent services, applied in over 25,000 instances, amplify our employees today," Nilekani said.
Nilekani iterated that the company has trained over 2,50,000 employees in Gen AI. "Infosys is one of the largest adopters of GitHub Copilot globally," he said, adding, "Our employees have already generated over 3 million lines of code using generative AI large language models."
In response to a shareholder query on the company's acquisition strategy, Chief Executive Officer Salil Parekh said Infosys is exploring software-as-a-service (SaaS) and cloud sectors.
"So those are under evaluation of as we look at different companies, we look at strategic fit, financial reasonableness, and then cultural fit or how we can integrate, and based on that we will proceed on the acquisition as and when those come about," Parekh said.
When asked on what are the key strategies that Infosys plans to implement to drive revenue growth over the next five years, Parekh said the company is broadly focussed on three different areas.
Firstly, the focus is on the newly emerging area of Gen AI. Second, a lot of work is going on with its cloud services, solutions, and platforms known as "Infosys Cobalt".
And lastly, the focus is on the rest of the areas of Infosys such as engineering services, SAP S/4HANA, data, and large deals. "These strategies will help us in a good position for the next five years," the 60-year-old IT industry veteran said.
Also read: Mixed bag for Indian IT: What Accenture's earnings imply for TCS, Infosys, others
