Infosys signs $2 billion AI deal with existing strategic client. Details here | Mint
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Business News/ Companies / News/  Infosys signs $2 billion AI deal with existing strategic client. Details here
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Infosys signs $2 billion AI deal with existing strategic client. Details here

Infosys has signed a framework agreement with a strategic client to provide AI and automation-led development, modernization, and maintenance services, with a target client spend of $2 billion over the next five years.

The logo of Infosys is seen during a press conference to announce the 4th quarter financial results of the company, at Infosys headquarters in Bengaluru. (PTI)Premium
The logo of Infosys is seen during a press conference to announce the 4th quarter financial results of the company, at Infosys headquarters in Bengaluru. (PTI)

Technology services provider Infosys has announced entering into a framework agreement with one of its existing strategic clients in order to provide artificial intelligence and automation-led development. 

In an exchange filing on Monday, Infosys revealed that the agreement will also entail modernization and maintenance of services. It is expected to come with a total client spend target of around $2 billion in the next five years.

Infosys had announced a new platform in May called Infosys Topaz that offers a combination of data analytics and generative AI. The platform is aimed at creating efficiencies across the enterprise by using smart tools, platforms, and autonomous software engineering for business agility. 

AI boom continues: 

The announcement by Infosys comes at a time when its competitors like TCS and Wipro have announced plans to delve deeper into generative AI technology. 

Last week, Wipro announced setting up the ai360 service and committed itself to investing around 1 billion dollars into artificial intelligence in the next three years. The company also announced that it will train around 2,50,000 employees on the fundamentals and responsible use of AI over the next 12 months. The technology services firm also informed about providing customised and continuous training to employees in AI-focused roles.

Similarly, TCS had announced earlier this month that the company will train 25,000 engineers on generative artificial intelligence (AI) tools from Azure OpenAI over the course of next 3 years.

 

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Published: 18 Jul 2023, 08:00 AM IST
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