BUSINESS
3 million lines of codes generated by Infosys through LLMs in Gen AI is 'industry leading', says CEO Salil Parekh
Infosys CEO Salil Parekh said that all of the company’s service lines now include generative AI and the company has been building playbooks of how that can work.
BUSINESS
Infosys headcount drops by 5,423 in Q4, fifth consecutive quarter of decline
Infosys’ full year headcount for FY24 too declined by 25,994, for the first time in at least 23 years since 2001, driven by the Infosys’ changing hiring model as it looks to focus more on improving utilisation rate.
BUSINESS
We hire more than half of our freshers off campus: Infosys CFO
Infosys CFO Jayesh Sanghrajka said that the IT services giant has not decided on campus hiring at this point.
TECHNOLOGY
Infosys’ full-year headcount declines for the first time in 23 years, net addition drops by 25,994
As of fourth quarter ended March 31, 2024, Infosys quarterly net addition decreased by 5,423 employees. This is the fifth consecutive quarter of headcount drop for the company.
TRENDS
Doob-ai: Dubai floods disrupt crypto and blockchain events, business loss for Indian players
It was either hours on the phone with an airline's customer care or long wait at the airport for many Indians who were travelling to Dubai to attend crypto as well as blockchain events in the city.
TECHNOLOGY
More than half of TCS' 6 lakh employees are now AI skilled, CEO calls it one of the largest AI-ready workforces
TCS CEO K Krithivasan also said that the fourth quarter ended March 31 saw most of the employees return to work, according to an email accessed by Moneycontrol.
TECHNOLOGY
TCS targets to hire around 40,000 freshers in FY25; will honour all offers made
In terms of hiring experienced professionals, TCS will be taking a call on a quarterly basis depending on immediate demand and requirement, CEO and MD K Krithivasan said.
TECHNOLOGY
There is a greater opportunity to increase pricing: TCS CEO K Krithivasan
In an interview with Moneycontrol, TCS CEO K Krithivasan said he believes the new fiscal will be better than the previous one and that they will step up focus on regional markets.
BUSINESS
Difficult to call when growth will return, says TCS CEO Krithivasan
Krithivasan said TCS will outperform in FY25 compared to FY24, because he expects major markets will turnaround very soon
TECHNOLOGY
TCS’ AI and generative AI pipeline doubles in Q4 to $900 million
This is the first time that the IT services giant gave an estimate of its generative AI pipeline, saying that it has doubled in Q4 alone.
TECHNOLOGY
TCS reports all-time high order book $13.2 billion in Q4
On a full year basis, order book was up at $42.7 billion as compared to $34.1 billion recorded in FY23. This is historically the highest full-year order book for the IT services giant
BUSINESS
TCS Q4FY24 earnings preview: Top five factors at play
TCS' Q4 revenue is expected to be around Rs 60,559 cr, seen flat QoQ while Net profit is estimated at Rs 11,739 cr, higher by 6.16% QoQ.
BUSINESS
NTT’s Sharad Sanghi raises $20 million for AI startup Neysa from Matrix Partners, others
The fresh capital will be used to expand Neysa's infrastructure and accelerating its research and development initiatives.
BUSINESS
India accounts for 12% of world’s Web 3 developers in 2023, major jump from 3% in 2018: Hashed Emergent report
While there has been an 80% YoY decline in Web 3 funding in India in 2023, Hashed Emergent CEO Tak Lee said that the early stage venture capital firm has started seeing signs of recovery with more startups actively seeking to secure funds.
TECHNOLOGY
IT companies' Q4FY24 earnings preview: Five things to watch out for
On April 12, country's largest IT services company TCS will get the ball rolling for Q4FY24 IT earnings season
TECHNOLOGY
Srinivas Pallia’s ascent to Wipro CEO will ensure smooth transition, say industry experts
Wipro New CEO: After multiple quarters of underperformance, the IT major cannot afford any more top level exits and delays in transition by hiring another external CEO, analysts opined
TECHNOLOGY
Technology services firms to see over $20 billion in deal renewals in FY25
Of this, nearly 51-53 percent will be driven by the top five Indian IT firms — Tata Consultancy Services, Infosys, HCLTech, Wipro, and Tech Mahindra, according to data from UnearthInsight.
BUSINESS
The Good Glamm Group, Serena Williams enter a JV to launch Wyn Beauty in the US
The Good Glamm Group expects this new launch to bring international business accounting for 25 percent to 35 percent of its total group revenues by the end of next year, founder Darpan Sanghvi told Moneycontrol.
TECHNOLOGY
AWS cuts several hundred jobs in sales and marketing teams globally
The email was sent out to the employees by Matt Garman, SVP, Sales & Marketing at AWS, Amazon Inc’s cloud division.
TECHNOLOGY
Digital twins, chip design, AI solutions: Inside TCS' big semiconductor bet
Here’s how Tata Consultancy Services (TCS) is making the best of the booming semiconductor opportunity. Semiconductor business is expected to bring higher margins by around 200-300 bps as compared to IT services, expert said.
TECHNOLOGY
Freshworks' VP and India head Karthik Rajaram quits, joins Elastic India
Just a month ago, Freshworks' chief revenue officer Pradeep Rathinam resigned from the firm he had joined in 2020
TECHNOLOGY
Top Indian crypto exchanges see a 207% surge in trading volumes in March as Bitcoin soars
The top three exchanges, including WazirX, CoinDCX, and Zebpay, have collectively surpassed trading volumes of over $584 million in March, compared to $189.91 million at the end of February.
TECHNOLOGY
Crypto exchange KuCoin registers with FIU-IND, months after its URL was blocked
With this, KuCoin will be setting up a local India team, and collaborate with banks and partners to offer localized payments solutions.
TECHNOLOGY
Appointing Inflection AI’s Suleyman as Microsoft AI chief won’t impact OpenAI partnership, say experts
According to media reports, to hire the two co-founders and get a majority of Inflection AI’s 70-people staff, Microsoft has signed an unusual deal with the startup worth $650 million
