New Delhi: Unlike consumer uses of AI, next-generation technology for enterprises will develop over several years and the biggest challenge is to unleash AI for the next wave of enterprise productivity, said Infosys Chairman Nandan M Nilekani on Wednesday.
While speaking at the 43rd Annual General Meeting (AGM) of Infosys, Nilekani said that Infosys has created 23 AI industry projects to solve industry-specific challenges and is working on over 225 generative AI programs for clients.
"The world is at a very early stage of AI development. Unlike consumer AI, which will be deployed quickly...enterprise AI will take several years to develop. Infosys is well positioned for that.
"The pace at which everything around us is evolving is dizzying. A great challenge of our time is unleashing AI for the next wave of productivity for businesses. We've had a head start on that journey and we look forward to sharing the learning and value. with our customers," said Nilekani.
Nilekani said that the initial fatalism of AI has calmed down and people have accepted that, like any other general-purpose technology (electricity, nuclear power, the Internet, etc.), AI (generative artificial intelligence) has enormous potential for the good when you advance within the barriers. of responsibility.
"We have created 23 AI industry projects to solve industry-specific challenges. We are currently working on over 225 generative AI programs for our clients. The key to executing a complex transformation is talent," Nilekani said.
He said that while there are concerns around AI, there is no global initiative on responsible AI.
Nilekani said Infosys, however, is committed to being responsible and taking security barriers seriously when developing software.
Infosys claims to have trained 2.5 lakh employees in the area of generative AI.
Nilekani said the emergence of powerful open source AI models has also accelerated the deployment of AI to solve difficult business and societal challenges.
“As we move toward more use cases, a thousand flowers will bloom,” he said.
Nilekani said manifestations of consumer AI will make life easier and more productive for millions of people, while enterprise AI, on the other hand, is much more complex.
"(Enterprise AI) will require root and branch surgery of the multi-generation technology found within companies. The challenge will also be to orchestrate the vast amount of data within the corporation in a way that makes it consumable by AI. Quality Production must be managed to guarantee objective responses and knowledge without hallucinations," he stated.
During the Annual General Meeting, shareholders asked about the impact of AI on the company's employees, margin, demanded bonuses, asked for stock splits, pushed for sustainability, etc.
On the impact of Gen AI on jobs in the IT sector, Nilekani said Gen AI has huge potential to solve business and societal challenges.
"We expect our productivity to increase with the use of tools. While productivity will increase, there will be many more opportunities for AI-driven transformation in the world and I think we are well positioned to take advantage of that," Nilekani. saying.
He said AI will help reduce costs and contribute to growth.
Responding to a question from shareholders on increasing compensation for employees, Infosys CEO and CEO Salil Parekh said the company has completed the compensation plan for fiscal 2024 and is now working on the plan for next year.
He said the company is focusing on the emerging area of Gen AI, cloud services, engineering services, SAP, HANA, data growth, big business coming from efficiency, cost savings, etc., to grow in the next five years.
While speaking at the 43rd Annual General Meeting (AGM) of Infosys, Nilekani said that Infosys has created 23 AI industry projects to solve industry-specific challenges and is working on over 225 generative AI programs for clients.
"The world is at a very early stage of AI development. Unlike consumer AI, which will be deployed quickly...enterprise AI will take several years to develop. Infosys is well positioned for that.
"The pace at which everything around us is evolving is dizzying. A great challenge of our time is unleashing AI for the next wave of productivity for businesses. We've had a head start on that journey and we look forward to sharing the learning and value. with our customers," said Nilekani.
Nilekani said that the initial fatalism of AI has calmed down and people have accepted that, like any other general-purpose technology (electricity, nuclear power, the Internet, etc.), AI (generative artificial intelligence) has enormous potential for the good when you advance within the barriers. of responsibility.
"We have created 23 AI industry projects to solve industry-specific challenges. We are currently working on over 225 generative AI programs for our clients. The key to executing a complex transformation is talent," Nilekani said.
He said that while there are concerns around AI, there is no global initiative on responsible AI.
Nilekani said Infosys, however, is committed to being responsible and taking security barriers seriously when developing software.
Infosys claims to have trained 2.5 lakh employees in the area of generative AI.
Nilekani said the emergence of powerful open source AI models has also accelerated the deployment of AI to solve difficult business and societal challenges.
“As we move toward more use cases, a thousand flowers will bloom,” he said.
Nilekani said manifestations of consumer AI will make life easier and more productive for millions of people, while enterprise AI, on the other hand, is much more complex.
"(Enterprise AI) will require root and branch surgery of the multi-generation technology found within companies. The challenge will also be to orchestrate the vast amount of data within the corporation in a way that makes it consumable by AI. Quality Production must be managed to guarantee objective responses and knowledge without hallucinations," he stated.
During the Annual General Meeting, shareholders asked about the impact of AI on the company's employees, margin, demanded bonuses, asked for stock splits, pushed for sustainability, etc.
On the impact of Gen AI on jobs in the IT sector, Nilekani said Gen AI has huge potential to solve business and societal challenges.
"We expect our productivity to increase with the use of tools. While productivity will increase, there will be many more opportunities for AI-driven transformation in the world and I think we are well positioned to take advantage of that," Nilekani. saying.
He said AI will help reduce costs and contribute to growth.
Responding to a question from shareholders on increasing compensation for employees, Infosys CEO and CEO Salil Parekh said the company has completed the compensation plan for fiscal 2024 and is now working on the plan for next year.
He said the company is focusing on the emerging area of Gen AI, cloud services, engineering services, SAP, HANA, data growth, big business coming from efficiency, cost savings, etc., to grow in the next five years.
