Infosys, India’s second-largest software services exporter, announced a new agreement with an undisclosed client to provide artificial intelligence (AI) and automation services over a period of five years. The deal is estimated to have a target spend of $2 billion.
The scope of the agreement includes the development, modernization, and maintenance of AI and automation-related services, as stated in an exchange filing by the company.
India’s growing prowess in AI
This move by Infosys aligns with the increasing focus on AI investment worldwide, exemplified by the success of Microsoft-backed OpenAI’s generative chatbot, ChatGPT, in late 2022. In response to this trend, companies are intensifying their investments in AI technologies.
Tata Consultancy Services, a competitor of Infosys, announced plans to train 25,000 engineers to become certified on Microsoft’s Azure Open AI, while Wipro intends to invest $1 billion in AI over the next three years.
In late May, Infosys, headquartered in Bengaluru, introduced a platform named Infosys Topaz, which focuses on generative AI.
Infosys’ Topaz
Infosys has a platform called Topaz, which utilizes the company’s applied AI framework to establish an AI-first core. The platform empowers individuals to provide cognitive solutions and aims to accelerate business value for global enterprises through generative AI.
Topaz leverages the potential of humans, enterprises, and communities to capitalize on opportunities arising from unprecedented innovations, connected ecosystems, and enhanced efficiencies.
The company emphasizes a “responsible by design” approach, prioritizing ethics, trust, privacy, security, and compliance. Topaz combines the power of Infosys Cobalt cloud and data analytics to drive business growth by delivering AI-powered solutions and intuitive experiences.
Topaz is all the rage for Indian businesses
Infosys highlights successful case studies to illustrate the capabilities of Topaz. For instance, a food and beverages chain utilized the platform to autonomously connect disparate data signals from new partners, resulting in a superior off-store consumer experience with over 95 per cent accuracy.
Additionally, a national railway company utilized Topaz to build a smart hub, enabling the profitable creation of agile value chains by collaborating with best-fit partners for functions like first and last-mile logistics.
Overall, Topaz aims to harness the potential of AI to deliver transformative outcomes for businesses across various sectors.
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