Infosys Chairman Nandan Nilekani said artificial intelligence will not replace IT services companies and said the technology is creating demand for modernisation and integration work across enterprises.
Speaking at the company's 45th annual general meeting, Nilekani addressed concerns over the impact of AI on the sector and said Infosys remained "more relevant than ever before" more than three years after the launch of generative AI.
"The existential question that is being asked of us is, if coding becomes automated, then why are we needed at all?" Nilekani said. "AI will not replace companies like ours. It will amplify those who move with purpose and adapt with speed," he added.
Nilekani said the AI revolution had made legacy modernisation urgent and that clients were moving to retire technical debt accumulated over decades. He said the next opportunity would come from combining AI systems with transaction platforms used by enterprises.
Infosys said it was collaborating with 90% of its top 200 clients on their AI programmes and that investments in its Topaz and Cobalt platforms would help clients deploy AI at scale.
The company said its AI-first framework positions it to address an AI services market worth between $300 billion and $400 billion by 2030.
Chief Executive Officer and Managing Director Salil Parekh said clients were using AI to improve growth, service quality and efficiency, with demand spread across six areas including engineering, data, process transformation, technology modernisation, physical AI and AI trust.
"We see modernization of technology using agents as one of the largest areas today that our clients are looking to Infosys to help them with," Parekh said.
Parekh said Infosys had already built AI capabilities through its Topaz and Fabric platforms and had partnerships with foundation model developers and compute companies.
The company’s large deal total contract value for the year stood at $14.9 billion, with 55% classified as net new business.
The company recruited more than 20,000 college graduates during the year and ended fiscal 2026 with a workforce of more than 325,000 employees.
During the year, Infosys completed the acquisitions of MRE Consulting Limited and Missing Link Group. It also completed the acquisitions of Stratus Global LLC and Optimum Achieve Holdings Inc after the end of the financial year.
For fiscal 2026, the board recommended a final dividend of Rs 25 per share. Together with the interim dividend of Rs 23 already paid, the total dividend for the year stood at Rs 48 per share.
