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Infosys has signed a US$2 Billion AI deal for five years for increased AI adoption
Infosys, India's second-largest software services exporter, announced on Monday that it has struck a five-year agreement with an existing client to supply artificial intelligence (AI) and automation services worth US$2 billion (approximately Rs. 16,400 crores).
According to the company's exchange filing, the agreement comprises AI and automation-related development, maintenance, and modernization services. The client's identity was kept secret by the firm.
Companies worldwide have doubled AI investment as Microsoft-backed OpenAI's generative chatbot, ChatGPT, grabbed the world by storm in late 2022.
Infosys' initiative comes after competitor Tata Consultancy Services announced plans to educate 25,000 engineers on Microsoft's Azure Open AI. Wipro, another competitor, intends to invest US$1 billion (about Rs. 8,200 crores) in artificial intelligence (AI) over the next three years.
Bengaluru-based in late May, Infosys introduced the Infosys Topaz platform for generative AI.
On July 20, the corporation is anticipated to release its first-quarter earnings.Wipro revealed last week a plan to invest US$1 billion (approximately Rs. 8,200 crores) to upskill its workers in AI and inject the technology into the company's product portfolio. 2.5 lakh people will be educated to utilize AI as part of the business's goals, and the country's third-largest software services company aims to recruit 30,000 personnel from its cloud, data analytics, consulting, and engineering departments to integrate AI with its products and services.