About the news
1. Infosys obtains a large 5-year AI deal with an unnamed client.
2. The agreement encompasses AI and automation services and is expected to cost $2 billion.
3. The client’s name is kept; services focus AI and automation
Infosys, the second-largest exporter of software services from India, recently announced a significant agreement to supply automation and artificial intelligence (AI) services for the next five years to an undisclosed client.
The arrangement covers development, modernization, and maintenance services relating to AI and automation, with a target investment of an estimated $2 billion.
The client’s identity is kept confidential, although Infosys stressed that automation and AI services were included in the exchange filing.
With the success of Microsoft-backed OpenAI’s generative chatbot ChatGPT in late 2022, Infosys’ strategic move mirrors the growing trend of businesses boosting their investments in AI.
This news comes in response to rival Tata Consultancy Services’ (TCS) recent statement that it would train 25,000 engineers to get certified in Microsoft’s Azure Open AI platform.
The industry’s commitment to maximizing the promise of AI technology is demonstrated by another competitor, Wipro, which also plans to invest $1 billion in AI over the next three years.
A new platform for generative AI called Infosys Topaz was presented by Bengaluru-based Infosys at the end of May. This platform supports Infosys’ strategic goal of advancing AI capabilities and providing clients with cutting-edge solutions.
This significant AI contract further establishes as a vital player in the fast-changing AI field as the market anticipates the company’s first-quarter earnings, which are due out on July 20.
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