Unlike AI uses for consumers, the next generation technology for enterprises will unfold over several years and the biggest challenge is to unleash AI for next wave of productivity for businesses, Infosys chairman Nandan M Nilekani said on Wednesday. While speaking at 43rd annual general meeting (AGM) of Infosys, Nilekani said the initial AI doomerism has quietened down and people have accepted that, like any other general-purpose technology -- electricity, nuclear energy, the internet etc, gen AI (generative artificial intelligence) has enormous potential for good when advanced within the guardrails of responsibility.
Infosys Technologies, will announce its Q4 and FY15 results on April 24
IT behemoth Infosys Technologies Ltd, which came out with its third quarter earnings, is awaiting approval for 219 patent applications in India and the US.
The deal will give Infosys higher-end consulting capabilities and enable it to grow in a non-linear fashion. It will also enable Infosys to acquire some global names as clients and improve the Indian major's footprints in Europe at a time when Indian firms need to reduce their dependence on the US market.
West Bengal government hopes that Infosys Technologies will follow in the footsteps of other IT majors in setting up its development centre in the state.
Numeros Motors is also planning to come up with a passenger vehicle four-wheeler or a three-wheeler by 2027.
Infosys Technologies, India's No. 2 software services exporter, is undecided on the timing of its proposed American Depositary Share issue, a company official told Reuters on Friday.\n\n\n\n
Perennial traffic problems in Bangalore and high hotel tariff and occupancy rate here are prompting some city-headquartered software biggies to think in terms of owning a hotel on their own for clients and visitors.
Infosys, TCS, and Wipro still rake in profits, but they face challenges ranging from a stronger rupee to the likes of IBM and Accenture romping on their home turf.
Stock investors have become richer by Rs 10.47 lakh crore in two straight days of gains in markets as benchmark Sensex jumped 2 per cent. At close on Wednesday, the market capitalisation of BSE-listed companies surged by Rs 10,47,565.48 crore to Rs 4,52,58,633.53 crore ($5.37 trillion) in two days of gains. "The feel good factor of Trump's win in the US election had a rub-off effect on world equity markets, including local indices as domestic investors resorted to value buying, especially in IT stocks, which pushed the benchmark Sensex above the 80k mark.
The total headcount of Infosys and its subsidiaries stood at 104,850 employees as on March 31, 2009, the company said in a statement. 'During the quarter, Infosys and its subsidiaries added 4,935 employees (gross). The net addition during the quarter was 1,772,' it stated. In the entire financial year ended March 31, 2009, the company took on board 28,231 employees, but the net additions for the year were just 13,663.
Software major Infosys Technologies on Thursday said it has reached an agreement with Citicorp International Finance Corporation to acquire the latter's stake in its BPO arm Progeon Ltd for $115.13 million (nearly Rs 518 crore) in cash.
Paying more attention to offering clients end-to-end solutions, even as the firm grew new lines of business, will be the way forward at Infosys Technologies.
"What has changed in the last two quarters is that the markets have improved and deals are coming back. We see more deal-flows," Infosys' CEO and managing director, S Gopalakrishnan, told reporters on the sidelines of a CII meet in Mumbai on Wednesday.
Infosys has added 27,000 employees in 2008 so far. Developing its human resource and creating a training and recruitment engine is high on its agenda.
While having Murthy around will certainly help bolster employee morale, Infosys will have to go in for more process innovation and automation.
Crisil has assigned corporate governance 'CG' and value-creation rating 'GVC level-1' to Infosys, indicating the highest capability to create wealth for stakeholders while adopting corporate governance practices.
Against the backdrop of a clampdown on visas by the US and growing antagonism towards foreign workers and immigrants in that country, Infosys Technologies, India's second-largest IT services firm, is mulling an 'extreme offshoring' model to help reduce its dependence on H1 and L1 visas.
IT major Infosys Technologies Ltd on Thursday said that it would invest Rs 800 crore more during the current fiscal.
From the 30-share Sensex pack, Tata Consultancy Services, Infosys, NTPC, HCL Technologies, Axis Bank, Tech Mahindra, Bajaj Finserv, Sun Pharma, IndusInd Bank and Reliance Industries were the major laggards. Tata Steel, Hindustan Unilever, Mahindra & Mahindra, Nestle and State Bank of India were among the gainers.
"People addition is on track for 45,000 (employee hiring) target for the financial year 2012. The company will focus on local hiring. We have hired 1,000 people in the US in the last four quarters," Infosys Chief Executive Officer and Managing Director S D Shibulal said.
State Bank of India has selected Finacle Universal Banking, the core banking solution of Infosys Technologies, to power its international operations
That's how Infosys CEO Nandan Nilekani sees the country's impact on the US economy, through globalisation and outsourcing.
Infosys made this position clear, a day after its chairman and chief mentor N R Narayana Murthy reiterated that his company would not act on any CVs received from Satyam employees to ensure that nothing is done that would adversely impact the Hyderabad-based firm's future.
IT bellwether Infosys Technologies on Thursday said its subsidiary Infosys BPO will acquire US-based McCamish Systems for an initial payment of $38 million (about Rs 176.6 crore).
Infosys, one of the biggest employers in the country, has said that all general hiring in the company has come to a standstill as business has slowed down considerably. Though Nilekani did not give out any numbers, it is understood that the Nasdaq-listed company is resorting to need-based recruitment, had made offers to 18,000 students of the 2009-10 batch from different campuses.
From the 30-share Sensex pack, Tata Consultancy Services and Infosys jumped over 4 per cent each. HCL Technologies, Tech Mahindra, Adani Ports, Larsen & Toubro, Maruti and Reliance Industries were also among big gainers. Titan, IndusInd Bank, Hindustan Unilever, Axis Bank and HDFC Bank were the laggards.
Information technology leader Infosys Technologies Ltd on Friday said it will consider a bonus issue of its shares on April 14, taking the value of its scrip to a 52-week high of Rs 3,400 on the Bombay Stock Exchange.
The award has been instituted by the Palladium Group Inc, a leading global professional services firm that enables companies to better measure and manage performance using the BSC approach, Infosys said in a statement.
Infosys chief Kris Gopalakrishnan on Wednesday expressed hope that DTC and GST will be pushed through in the forthcoming budget, while Genpact vice chairman Pramod Bhasin feared economic reforms will be tough going forward.
iGATE Global Solutions said on Monday that it has appointed Mohan Sekar as chief delivery officer-IT services.
Grappling with falling sales and a dropping bottom line, companies have had no alternate but to put cost-cutting measures in place. Infosys, for example, has cut variable pay, made appraisals more stringent and asked employees to make a one time saving of $10.
Infosys Technologies Ltd has agreed in principle to set up a software development centre in Kolkata, West Bengal Chief Minister Buddhadev Bhattacharjee said on Friday.
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