Infosys working on over 225 GenAI programs for its client, says chairman
Infosys chairman Nandan Nilekani announced on Wednesday that the company is currently developing over 225 generative artificial intelligence (GenAI) programs for its clients.
Nilekani added that the IT major has integrated GenAI components into all its service lines and developed 25 playbooks to create impact for its clients.
“Our clients are combining it with cloud abilities in Infosys cobalt to help them Scale AI”, said Nandan Nilekani, Chairman of Infosys. Also, earlier this year, the organization acquired semiconductor design form InSemi for $34 million and Germany-based ER&D service provider for $480million.
To drive exponential growth in AI and accelerate Infosys’s chip-to-cloud strategy, the organization acquired InSemi, a leading semiconductor design services provider. Infosys has also developed strong domain-relevant enterprise AI capabilities from the foundation up. We have created 23 AI industry blueprints to resolve industry-specific challenges, added Nilekani.
Infosys achieved a 1.4 percent growth in constant currency, generating $18.6 billion in revenues for FY24. The company maintained an operating margin of 20.7 percent and produced $2.9 billion in free cash flow, reflecting a 13.7 percent increase compared to FY23. Additionally, Infosys secured its highest-ever large deal total contract value (TCV) at $17.7 billion for FY24, with 52 percent of this value coming from net new contracts.
