Anindita Nayak
Bhubaneswar, June 28, 2024
Fears regarding generative artificial intelligence (AI) bringing in severe disruption to existing business models apart from leading to huge job losses have subsided as the novel technology entered the second year of its adoption.
In his address to shareholders, Nandan Nilekani, co-founder and chairman of Infosys said initial AI doomerism with regard to GenAI has quietened.
“As we look at the larger business environment, we are now into the second year of the generative AI revolution, and the initial AI doomerism has quietened down. People have accepted that, like any other general-purpose technology be it electricity, nuclear energy, the internet or even a discovery like fire, gen AI has enormous potential for good when advanced within the guardrails of responsibility,” Nilekani said addressing shareholders in 43rd annual general meeting of the company.
He also pointed out that AI use cases for enterprises would take time to develop as compared to such solutions for consumers. “Enterprise AI requires companies to make major changes inside the company, organise their data, build responsible systems, and follow laws. So enterprise AI will take several years to unfold.. Infosys will be able to deal with the transition,” he told the shareholders.
Infosys is developing 225 Generative AI projects for clients and has trained over 250,000 employees in generative AI. “Infosys is one of the largest adopters of GitHub Copilot globally. Our employees have already generated over 3 million lines of code using generative AI large language models,” said Nilekani.
Infosys also revealed that it has 70 AI client partnerships and filed 46 AI patents in the fiscal year 2024. “Infosys has built strong domain-relevant enterprise AI capabilities – from the foundation up. We have created 23 AI industry blueprints to solve industry-specific challenges. This is also aided by the Board’s approval for strategic acquisitions like that of in-tech, the engineering R&D services firm. Together with Infosys Topaz, and InSemi’s semiconductor expertise, this will help Infosys create deeper capabilities for the next phase of automotive innovation in software-defined vehicles,” he said.
