Infosys collaborates with Microsoft to accelerate and democratize industry-wide adoption of generative AI
Both companies will help enterprises take an AI-first approach to scale next-generation AI solutions to improve operational efficiencies, drive revenue growth, and enable business transformation
BENGALURU, India, Sept. 26, 2023 /PRNewswire/ -- Infosys (NSE: INFY), (BSE: INFY), (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced that it is collaborating with Microsoft to jointly develop industry leading solutions that leverage Infosys Topaz, Azure OpenAI Service and Azure Cognitive Services. Both organizations are bringing together their respective artificial intelligence (AI) capabilities to enhance enterprise functions with AI-enabled solutions across multiple industries. The integrated solutions will accelerate rapid democratization of data and intelligence that will help businesses increase productivity and drive new revenue growth.
Generative AI has opened new avenues of AI applications and key enterprise functions across industries, and Infosys is providing services, frameworks, solutions, and platforms in multiple application areas, such as semantic search, document summarization, contact center transformation, AI-augmented software development lifecycle (SDLC) and marketing content creation. For example, Infosys helped a leading financial services company implement an AI-based solution to generate document summaries and provide a semantic search capability using generative AI. This resulted in automated organization of documents, which significantly reduced efforts and improved productivity of their financial advisors.
Through the collaboration with Microsoft, Infosys Topaz is using Azure OpenAI Service and Azure Cognitive Services to augment its capabilities, in order to help enterprise customers transition from digital to AI solutions. The integrated solutions will boost customers' operational efficiency, decrease turn-around-time, future-proof investments, and open new business models.
Balakrishna D. R. (Bali), Executive Vice President and Global Head – AI and Automation, Application Development & Maintenance, Infosys, said, "Infosys Topaz is empowering businesses with improved operational efficiencies and reduced time-to-market for launching new products and services. It converges the power of Infosys Cobalt and data analytics to AI-power business and deliver cognitive solutions and intuitive experiences that revitalize growth. Through our strategic collaboration with Microsoft, we will continue to lead the generative AI revolution, helping businesses amplify human potential and navigate their next towards becoming AI-first enterprises."
Nicole Dezen, Chief Partner Officer, Microsoft Corp, said, "We're pleased to expand our collaboration with Infosys to deliver innovative solutions, utilizing Azure OpenAI Service and Azure Cognitive Services, that will help customers develop new business models, and realize new revenue streams. By harnessing the power of generative AI, Infosys will help customers accelerate growth and innovation."
About Infosys
Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.
Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.
Safe Harbor
Certain statements in this release concerning our future growth prospects, or our future financial or operating performance are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, our ability to attract and retain personnel, our transition to hybrid work model, economic uncertainties, technological innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, and our corporate actions including acquisitions. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2023. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
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