It is now widely accepted that there is a possibility of artificial intelligence (AI) replacing humans at work. Despite experts raising concerns, tech entrepreneurs have been upbeat about the potential benefits of using AI.

The CEO of Indian IT behemoth Infosys, Salil Parekh, recently said the firm has been using generative AI to service 50 of its client projects.

“We have today 50 active client projects where we are using generative AI and this is becoming an increasing part of the new world which is going to be defined on an AI-first basis,” Parekh said, according to Moneycontrol.com.

These remarks came during Infosys’ 42nd annual general meeting on Wednesday, where the use of AI was discussed prominently among shareholders.&nbsp;

During the meeting, Infosys rolled out its artificial intelligence (AI)-the first strategy with a sharp focus on generative AI.

Parekh has been the driving force behind the integration of generative AI into Infosys’ service offerings. He believes that this technology has the capability to strengthen the future of businesses worldwide.

<h2>Generative AI</h2>

Generative AI refers to AI systems that generate new content, ideas, or solutions based on existing data or patterns. It has the potential to enhance productivity, automate tasks, and drive innovation across various industries.

By leveraging generative AI, Infosys can provide its clients with advanced solutions and services that harness the power of artificial intelligence, Infosys said, according to its website.

The company further said that it was engaging with over 300 clients regarding integrating its AI services, called Infosys Topaz.

<h2>Nilekani cautious </h2>

Chairman Nandan Nilekani, however, struck a cautionary note saying that despite the progress in generative AI, complexities and unresolved issues are associated with its implementation.

Practical considerations, ethical concerns, and intellectual property-related matters must be addressed when scaling&nbsp;AI&nbsp;in the enterprise, he said.

“The AI-first strategy we have embraced is already working for us. We have redesigned our organisation to judiciously balance people, technology, and process while also executing work by segmenting it into cognitive tasks. Today, we can bring to our global clientele the same ability to accelerate business value and amplify human potential using AI technologies with Infosys Topaz,” said Nilekani, according to Business Standard newspaper.

(With inputs from agencies)

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It is now widely accepted that there is a possibility of artificial intelligence (AI) replacing humans at work. Despite experts raising concerns, tech entrepreneurs have been upbeat about the potential benefits of using AI.

It is now widely accepted that there is a possibility of artificial intelligence (AI) replacing humans at work. Despite experts raising concerns, tech entrepreneurs have been upbeat about the potential benefits of using AI. The CEO of Indian IT behemoth Infosys, Salil Parekh, recently said the firm has been using generative AI to service 50 of its client projects. “We have today 50 active client projects where we are using generative AI and this is becoming an increasing part of the new world which is going to be defined on an AI-first basis,” Parekh said, according to Moneycontrol.com. These remarks came during Infosys’ 42nd annual general meeting on Wednesday, where the use of AI was discussed prominently among shareholders. During the meeting, Infosys rolled out its artificial intelligence (AI)-the first strategy with a sharp focus on generative AI. Parekh has been the driving force behind the integration of generative AI into Infosys’ service offerings. He believes that this technology has the capability to strengthen the future of businesses worldwide. Generative AI Generative AI refers to AI systems that generate new content, ideas, or solutions based on existing data or patterns. It has the potential to enhance productivity, automate tasks, and drive innovation across various industries. By leveraging generative AI, Infosys can provide its clients with advanced solutions and services that harness the power of artificial intelligence, Infosys said, according to its website. The company further said that it was engaging with over 300 clients regarding integrating its AI services, called Infosys Topaz. Nilekani cautious Chairman Nandan Nilekani, however, struck a cautionary note saying that despite the progress in generative AI, complexities and unresolved issues are associated with its implementation. Practical considerations, ethical concerns, and intellectual property-related matters must be addressed when scaling AI in the enterprise, he said. “The AI-first strategy we have embraced is already working for us. We have redesigned our organisation to judiciously balance people, technology, and process while also executing work by segmenting it into cognitive tasks. Today, we can bring to our global clientele the same ability to accelerate business value and amplify human potential using AI technologies with Infosys Topaz,” said Nilekani, according to Business Standard newspaper. (With inputs from agencies) WATCH WION LIVE HERE

Infosys using generative AI to handle 50 client projects, says CEO Parekh

Infosys Ltd said on Monday it had not yet received any evidence to support the allegations in a whistleblower letter from last month, sending its shares up as much as 6.

Infosys Ltd said on Monday it had not yet received any evidence to support the allegations in a whistleblower letter from last month, sending its shares up as much as 6.5% in early trading. A letter, claimed to have been written by some employees of the company in October, said Chief Executive Officer Salil Parekh asked them and others to bypass approvals for large deals, fearing a negative impact on shares from reduced profit. Infosys shares have lost 10% of their value since the letter surfaced. The US Securities and Exchange Commission (SEC)launched a probe into the claims, and its Indian counterpart, the Securities and Exchange Board of India, asked the company to submit information on the complaints. "With respect to the anonymous complaints, there is no prima facie evidence that the company has received until date to corroborate any of the allegations made," Infosys said in a letter dated Nov. 2 to the National Stock Exchange (NSE). The exchange had asked the company to explain why it had not disclosed the letter. The Bengaluru-based company said since the allegations were not deemed "material", the company was not obligated to disclose them. "If the information in the letter is taken on face value without any investigation, then you can do a grave injustice to the accused, who don't have a chance to defend themselves," said Ramanujam Sridhar, CEO of Brand-Comm, a communications consultancy based in Bengaluru. "It would then be trial by media." Infosys Chairman Nandan Nilekani said last month that Parekh and Chief Financial Officer Nilanjan Roy, who was also accused of misconduct in the letter, were recused from the board's investigation. The complaints are still under investigation and the company is not in a position to determine "concreteness, credibility and materiality of complaints," Infosys said in the letter. Former CEO Vishal Sikka left the company two years ago after a whistleblower complaint. Parekh took over in January last year and laid out a roadmap to revive the company's fortunes, as the sector stared at a slowdown in spending from key clients.

Infosys says no immediate evidence to support whistleblower complaints

Infosys, India&#39;s second largest IT exporter, today reported 38.3 per cent growth in consolidated net profit to Rs 5,129 crore for the October- December quarter of 2017-18 year.

It had posted a net profit of Rs 3,708 crore in the year-ago period, as per IFRS accounting norms, Infosys said in a BSE filing.

Revenue of the Bengaluru-based firm grew 3 per cent to Rs 17,794 crore in the quarter under review, as against Rs 17,273 crore in the December 2016 quarter.

The company has maintained its FY2017-18 sales growth outlook at 5.5-6.5 per cent in constant currency terms.

Infosys explained that during the December 2017 quarter, it had signed an Advance Pricing Agreement with the US administration that had led to the reversal of income tax expense provision of Rs 1,432 crore.

&quot;Consequently, profit for the period has increased and therefore has led to an increase in Basic earnings per equity share by Rs 6.29 for the quarter ended December 31, 2017,&quot; it added.

This is the first quarterly results since Salil Parekh took charge as the new CEO and MD at Infosys on January 2.

Parekh&#39;s appointment came after the abrupt resignation of Vishal Sikka, who had quit in August following public spat with co-founders led by N R Narayana Murthy.

The founders had alleged corporate governance lapses and questioned the USD 200 million Panaya acquisition under previous management and flagged the high severance pay to former employees.

Under Parekh, Infosys is now attempting to bring the focus back on growth and business.

&quot;...Our Q3 performance is strong... We are progressing towards stability and are well positioned to serve our clients in the new areas of demand,&quot; Parekh said.

On a sequential basis, the company&#39;s net profit rose 37.6 per cent, while revenues were up 1.3 per cent in rupee terms.

In US dollar terms, Infosys&#39; net profit grew to USD 796 million in the said quarter, while revenues were at USD 2.7 billion from the year-ago period.

Its total headcount stood at 2.01 lakh at the end of December quarter.

Infosys said Rajesh K Murthy, President, has resigned from the company citing personal reasons and will be with the company till January 31, 2018.

This is the first quarterly results since Salil Parekh took charge as the new CEO and MD at Infosys on January 2

Infosys, India's second largest IT exporter, today reported 38.3 per cent growth in consolidated net profit to Rs 5,129 crore for the October- December quarter of 2017-18 year. It had posted a net profit of Rs 3,708 crore in the year-ago period, as per IFRS accounting norms, Infosys said in a BSE filing. Revenue of the Bengaluru-based firm grew 3 per cent to Rs 17,794 crore in the quarter under review, as against Rs 17,273 crore in the December 2016 quarter. The company has maintained its FY2017-18 sales growth outlook at 5.5-6.5 per cent in constant currency terms. Infosys explained that during the December 2017 quarter, it had signed an Advance Pricing Agreement with the US administration that had led to the reversal of income tax expense provision of Rs 1,432 crore. "Consequently, profit for the period has increased and therefore has led to an increase in Basic earnings per equity share by Rs 6.29 for the quarter ended December 31, 2017," it added. This is the first quarterly results since Salil Parekh took charge as the new CEO and MD at Infosys on January 2. Parekh's appointment came after the abrupt resignation of Vishal Sikka, who had quit in August following public spat with co-founders led by N R Narayana Murthy. The founders had alleged corporate governance lapses and questioned the USD 200 million Panaya acquisition under previous management and flagged the high severance pay to former employees. Under Parekh, Infosys is now attempting to bring the focus back on growth and business. "...Our Q3 performance is strong... We are progressing towards stability and are well positioned to serve our clients in the new areas of demand," Parekh said. On a sequential basis, the company's net profit rose 37.6 per cent, while revenues were up 1.3 per cent in rupee terms. In US dollar terms, Infosys' net profit grew to USD 796 million in the said quarter, while revenues were at USD 2.7 billion from the year-ago period. Its total headcount stood at 2.01 lakh at the end of December quarter. Infosys said Rajesh K Murthy, President, has resigned from the company citing personal reasons and will be with the company till January 31, 2018.

Infosys Q3 profit grows 38.3% to Rs 5,129 cr

53-year-old Salil Parekh took over as the new Managing Director (MD) and Chief Executive Officer (CEO) of the IT major Infosys Ltd on Tuesday.

Parekh is replacing company&rsquo;s interim CEO U B Pravin Rao who took charge after the resignation of former CEO Vishal Sikka.&nbsp;

Rao has been re-designated as the Chief Operating Officer (COO) of the company.

The board selected Parekh last year in December, to lead the company for the next five years nearly four months after Sikka stepped down over a prolonged standoff with promoters including N R Narayana Murthy over allegations of corporate governance lapses.&nbsp;

Parekh, who had earlier worked as an executive at consultancy firm Capgemini, is entering during a challenging environment including a threat of visa curbs in the US.&nbsp;

Shares of Infosys gained about eight per cent since Parekh&rsquo;s selection.&nbsp;

Former CEO and co-founder Nandan Nilekani, who returned to lead the company as chairman to quell investor concerns, expressed confidence in Parekh, saying he is the right person to lead Infosys.

This is the second time after Sikka that Infosys has roped in an external candidate for the role of CEO in its over three-decade history.&nbsp; 
&nbsp;

Parekh is replacing company?s interim CEO U B Pravin Rao who took charge after Vishal Sikka's resignation.?

53-year-old Salil Parekh took over as the new Managing Director (MD) and Chief Executive Officer (CEO) of the IT major Infosys Ltd on Tuesday. Parekh is replacing company’s interim CEO U B Pravin Rao who took charge after the resignation of former CEO Vishal Sikka. Rao has been re-designated as the Chief Operating Officer (COO) of the company. The board selected Parekh last year in December, to lead the company for the next five years nearly four months after Sikka stepped down over a prolonged standoff with promoters including N R Narayana Murthy over allegations of corporate governance lapses. Parekh, who had earlier worked as an executive at consultancy firm Capgemini, is entering during a challenging environment including a threat of visa curbs in the US. Shares of Infosys gained about eight per cent since Parekh’s selection. Former CEO and co-founder Nandan Nilekani, who returned to lead the company as chairman to quell investor concerns, expressed confidence in Parekh, saying he is the right person to lead Infosys. This is the second time after Sikka that Infosys has roped in an external candidate for the role of CEO in its over three-decade history.

Salil Parekh takes over as new Infosys CEO 4 months after Sikka stepped down

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Infosys using generative AI to handle 50 client projects, says CEO Parekh

Infosys says no immediate evidence to support whistleblower complaints

Infosys Q3 profit grows 38.3% to Rs 5,129 cr

Salil Parekh takes over as new Infosys CEO 4 months after Sikka stepped down