AI-first strategy working for Infosys despite unresolved issues: Nandan Nilekani

Nilekani said Infosys continues to embrace an AI-first strategy and it has started paying dividends for the company.
Image used for representational purpose only. ( File Photo)
Image used for representational purpose only. ( File Photo)

BENGALURU:  The immense potential of Artificial Intelligence (AI) and advances in generative AI, are not without their share of complexities, said Infosys chairman Nandan Nilekani.

Addressing the 42nd Annual General Meeting (AGM) of the company on Wednesday, Nilekani said several practical, ethical and intellectual property-related issues, when it comes to AI, remain unresolved. He added that the AI-first strategy is already working for Infosys.

“We have redesigned our organisation to judiciously balance people, technology, and process, while also executing work by segmenting it into cognitive tasks. Today, we are able to bring to our global clientele the same ability to accelerate business value and amplify human potential using AI technologies with Infosys Topaz,” he added.

He said that the board has approved a dividend of Rs 17.5 per share, taking the total to Rs 34 per share.

Infosys had 95 large deals valued at $9.8 billion for FY23 and of which 40% was net new. The company recruited over 50,000 college graduates in the year and the total headcount stood at over 3,40,000 employees, of which 39% are women.

Nilekani said the receding pandemic brought an end to one set of challenges, but its aftermath has created new ones. Infosys chief executive officer Salil Parekh said the company’s Cobalt capabilities for the cloud continue to resonate with the clients. “More recently we developed a strong set of capabilities in generative AI with Topaz,” he said. Infosys has 50 active client projects where it is using generative AI.

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