Infosys is witnessing an increasing adoption of generative artificial intelligence (Gen AI) among its clients, led by financial services players, largely aimed at improving efficiency and cost optimisation. To meet the growing demand, the IT major is developing over 100 new agents in the Gen AI space for its clients. "These agents are for deployment within our clients, many of them already using agents that we've developed," the company said.
Meanwhile, CEO Salil Parekh also revealed in the post-earnings call that the company was in discussion around Gen AI with clients across most industry. "So let's say the overall work is large, but there's always some element of generative AI in that discussion that we're involved in. We've also had several discussions with clients where they would like to use the small language models that we built," Parekh said.
"What we're seeing is the agents are helping clients to achieve efficiency and time reduction, cost reduction, or greater impact in their customer base and growth," he added.
In addition, the increasing adoption of AI offers benefits not just to clients but also to Infosys through improved productivity. "On the AI-driven productivity point, in general, what we see is whenever there is a productivity bene there's always sharing with clients," Parekh revealed.
The company's better-than-expected Q3 results were also bolstered by its strong deal pipeline. Infosys recorded a large deal Total Contract Value (TCV) of $2.5 billion in Q3, with 63 percent of those being net new, marginally surpassing the previous quarter's $2.4 billion despite seasonal weakness.
The management stated seeing good traction in areas like cloud, Gen AI,SAP S4HANA (SAP Product) and cost takeout deals. "So these net new deals are not entirely gen AI but a mix of all these areas mentioned," the management remarked.
Also Read | Infosys Q3: IT firm raises annual revenue growth guidance to 4.5-5%, eighth revision in nine quarters
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