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Infosys joins a slew of tech companies to invest in AI
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By Nithya Bose in Business News, posted July 18, 2023
India's second-largest software services exporter, Infosys, has announced a significant five-year deal in AI technology.
The company has signed an agreement with an existing client to deliver artificial intelligence and automation services, with a target expenditure of approximately $2 billion.
The deal encompasses various AI and automation-related services, including development, modernization, and maintenance.
Read More: Wipro to invest $1 billion in AI over next three years
The client's identity remains confidential.
This development comes as the global business landscape witnesses a surge in AI investments.
It follows the success of Microsoft-backed OpenAI's generative chatbot, ChatGPT, in late 2022.
Companies globally are intensifying their efforts to capitalize on AI capabilities in response to these advancements.
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Infosys' move comes after Tata's recent announcement of training 25,000 engineers to obtain certification in Microsoft's Azure Open AI.
Similarly, Wipro plans to invest $1 billion in AI over three years.
In May, Infosys launched Infosys Topaz, a platform focused on generative AI.
The company is scheduled to release its first-quarter results on Thursday, July 20, unveiling the financial impact of this strategic deal.
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