Infosys: Harnessing the Power Of Generative AI To Help Enterprises Generative AI has opened new avenues of AI applications and key enterprise functions across industries, and Infosys is providing services, frameworks, solutions, and platforms in multiple application areas
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The recent buzz around Generative AI has been driving innovation. With a capacity to reimagine the digital enterprise, redefine human capability and reinforce AI ethics, the power of Generative AI is exponential. Organizations are turning to AI solutions to drive growth as well as improve outcomes for new products and services.
As professional services firms remain a critical source of expertise, skills and tools to incorporate AI into digital business strategies, build production-grade solutions and realize return on investment, Infosys, a global leader in next-generation digital services and consulting, is innovating in the space bringing in ready-to-use industry solutions, a large partner ecosystem, accelerators and responsible design frameworks. It aims to empower everyone within and beyond the enterprise to lead the generative revolution.
In its Q1, FY 2024 results, the company highlighted the role of Generative AI capabilities in its business, "We had a solid Q1 with a growth of 4.2 percent and large deals of $2.3 billion which helps us to set a strong foundation for future growth. Our generative AI capabilities are expanding well, with 80 active client projects. Topaz, our comprehensive AI offering, is resonating well with clients. We see this being transformative for clients and enhancing our overall service portfolio" said Salil Parekh, CEO and MD, Infosys.
Generative AI has opened new avenues of AI applications and key enterprise functions across industries, and Infosys is providing services, frameworks, solutions, and platforms in multiple application areas, such as semantic search, document summarization, contact center transformation, AI-augmented software development lifecycle (SDLC) and marketing content creation. Infosys has recently collaborated with Microsoft to jointly develop industry leading solutions that leverage Infosys Topaz, Azure OpenAI Service and Azure Cognitive Services. Both organizations are bringing together their respective artificial intelligence (AI) capabilities to enhance enterprise functions with AI-enabled solutions across multiple industries. The integrated solutions will accelerate rapid democratization of data and intelligence that will help businesses increase productivity and drive new revenue growth.
The integrated solutions will boost customers' operational efficiency, decrease turn-around-time, future-proof investments, and open new business models.
As clients are looking at complex AI use cases that can drive significant business value across their value chain, Infosys is transforming into an AI-first company to better provide AI-based services to its clients. As part of increasing its Generative AI applications and solutions, Infosys and NVIDIA expanded their strategic collaboration with the aim to help enterprises worldwide, drive productivity gains with Generative AI applications and solutions. The broadened alliance will create offerings customers can adopt, to easily integrate generative AI into their businesses. "By combining our strengths and training 50,000 of our workforce on NVIDIA AI technology, we are creating end-to-end industry leading AI solutions that will help enterprises on their journey to become AI-first," mentioned Nandan Nilekani, co-founder and Chairman, Infosys, earlier in a statement.
Infosys was positioned as a leader in the IDC MarketScape: Worldwide Artificial Intelligence Services 2023 Vendor Assessment, released in the first week of September. Infosys' key strengths as noted in the IDC MarketScape report include the company's ability to provide solutions using client-preferred AI technology providers, resolve problems or issues related to customer service, showcase and co develop relevant use cases for AI solutions, integrate Infosys' project team with their internal team, and secure AI algorithms, APIs, and training data.