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When tech employees in the West came face-to-face with layoffs or the fear of it, some companies at home turf saw record hirings. Of course, we are talking about the WITCH (Wipro, Infosys, TCS, HCL) companies in India that recruited nearly 105,000 professionals in the first half of 2022.
Infosys, one of the largest IT service-based companies in the world, has seen its revenue increase by around ~2 billion dollars. After the pandemic, Infosys is one of the very few companies in India to have seen tremendous growth opportunities.
Despite Infosys’ stock outperforming other product-based large tech businesses globally, it has declined by more than 12%. And when compared with Google, for instance, the stocks have experienced a 25% reduction.
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When it comes to controversies, Infosys courted some. For instance, according to reports, the former vice-president of human resources at Infosys was instructed not to hire anyone of Indian ancestry, mothers with young children, or people who were 50 years of age or older. However, Rishi Sunak, the son-in-law of Infosys founder Narayan Murthy, who was elected UK Prime Minister, got the most of the headlines.
Infosys’ focus on AI and analytics
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Infosys has a sharp focus when it comes to AI and analytics. Gone are the days when Infosys was regarded merely as a service provider. The India-based tech giant is focusing heavily on AI and analytics as well. Infosys and IBM jointly launched the centre for AI and automation in Poland last month. The new division is supposed to offer automation solutions that reduce costs, increase productivity, and improve customer experience. Infosys BPM’s solutions, such as Infosys Intelligent Document Processing, Infosys Interaction Analytics, Infosys Multilingual Conversational AI, and Infosys Accounts Payable on Cloud, will be delivered through the Center of AI and automation.
In a recent conversation Analytics India Magazine, Balakrishna DR, EVP, Infosys, said that the company has over 1,000 ready-use cases across industries, projects, technologies, and service lines in AI/ML. Additionally, Infosys is looking to amplify data and AI with the cloud.
“More companies, including our own team, are now seeing the benefits of cloud when it comes to catalysing digital transformation because of its ability to increase development and processing speed while providing near-limitless scale,” said Balakrishna.
To read the full interview, click here.
Infosys Accelerate: IT’s solution to moonlighting
When it comes to the Indian IT sector, moonlighting is something that has garnered much attention. And while most of the companies were against moonlighting, Infosys stood out differently. The company has an internal marketplace for Infoscions to engage in short-duration gig work – an alternative to moonlighting. The platform has only two roles—gig creator and gig performer.
“Upon completion of their gig work, Infoscions get performance credits,” said Krish Shankar, executive VP and group head, HRD at Infosys in a recent conversation with Analytics India Magazine. He explained that they can redeem these credits for gifts. “Additionally, as Accelerate is a gamified marketplace, good performers and creators are visibly recognised,” he added.
To read more about it, click here.
Infy takes its tennis seriously
When it comes to tennis, there is only one tech company in India which is more interested and focused than any other. From creating an AR tennis store in 2016, to collaborating with Tennis Australia, Infosys has come a long way.
The French Tennis Federation and Infosys used applied AI and Infosys Cobalt cloud solutions in March 2022 to improve spectator, tournament, broadcast, and player training experiences during matches at Roland-Garros, popularly known as the French Open.
For almost a decade, Infosys has been actively involved in the world of tennis, consistently introducing innovative solutions to enhance the sport and the experience of its fans. Infosys’ contributions have not only improved the enjoyment of the game for its audience, but have also elevated the level of competition and overall quality of the sport.
To read the full story, click here.
Infosys in metaverse
Infosys has introduced the Metaverse Foundry to assist businesses in adjusting to the metaverse’s ways, including virtual and augmented environments for their clients, employees, goods, and operations. According to reports, the company has created more than 100 use cases and templates that can assist users in finding those components, reusing some of them, and connecting to the metaverse using the Infosys platform.
Infosys in 2023
Infosys is about to start 2023 with its Q3 earnings releasing on January 13, 2023. It had performed well in Q2 results with a consolidated net profit of Rs 6,021 crore, up 11.1% from Rs 5,421 crore reported in the same quarter of the previous year.