During the recent fourth quarter earnings call, Infosys CEO Salil Parekh provided an update on the company’s leadership in generative AI (Gen AI) and highlighted significant achievements and milestones.
Parekh emphasized Infosys’ absolute leadership position in generative AI, noting that the company has generated three million lines of code using large language models (LLMs) in Gen AI projects. He proudly announced that Infosys became the first IT services company globally to achieve ISO 42,001-2023 certification, a testament to the company’s commitment to excellence in AI management.
Tailoring AI solutions to client-specific needs has been a key focus for Infosys, with Parekh highlighting the company’s approach of training large language models with client-specific data. This nuanced approach demonstrates Infosys’ dedication to project execution and delivering tailored solutions that meet the unique requirements of each client.
In terms of financial performance, Parekh reported that Infosys delivered its highest-ever large deal value in the fiscal year 2023-2024, reflecting the strong trust clients have in the company. He underscored the expansion of Infosys’ capabilities in Generative AI, with projects spanning software engineering, process optimization, and customer support.
All of Infosys’ efforts in AI are encapsulated in its Topaz offering, an AI-first set of services, solutions, and platforms designed to accelerate business value using generative AI technologies. Parekh highlighted the industry-leading work done by Infosys, including the generation of three million lines of code through large language models in generative AI.
While Parekh did not disclose specific numbers on the deal pipeline or revenue expected from generative AI, he mentioned that all of the company’s service lines now incorporate generative AI. Infosys has been building playbooks for various use cases, such as software engineering, process optimization, customer support, advisory support, marketing, and sales, resulting in significant impact and value creation for clients.
In terms of financial performance, Infosys announced a robust fourth-quarter result, with consolidated profit jumping 30% to Rs 7,969 crore in the March 2024 quarter compared to Rs 6,128 crore in the year-ago period. Consolidated revenue increased by 1.3% to Rs 37,923 crore. Looking ahead, Infosys expects revenue growth of 1-3% in constant currency for FY 25 and an operating margin of 20-22%.
Overall, Infosys’ leadership in generative AI, coupled with its strong financial performance, underscores the company’s position as a leading player in the IT services industry, driving innovation and value creation for its clients.
