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Gen AI takes centre stage at AGM of TCS and Infosys

Livemint

Livemint · 1y ago

Gen AI takes centre stage at AGM of TCS and Infosys

Retail shareholders of Indian IT services companies, Infosys and TCS, expressed concern about the impact of generative artificial intelligence (GenAI) on the firms' businesses during their respective annual general meetings. Shareholders questioned the companies' leadership about the implementation of GenAI, its effect on employees, and the potential for partnerships with other IT firms. Retail shareholders, who own a significant portion of the companies' shares, are worried about any negative impact on their dividends and income. Both companies, however, have not provided specific metrics regarding revenue or dealings in the GenAI space.

Related News

Infosys opens advanced AI, cybersecurity and spacetech centre in Hubballi in big boost to North Karnataka - The Economic Times

Economic Times

Economic Times · 23d ago

Infosys opens advanced AI, cybersecurity and spacetech centre in Hubballi in big boost to North Karnataka - The Economic Times

Infosys has launched the Infosys Centre for Advanced AI, Cybersecurity, and Space Technology at its development centre in Hubballi, Karnataka, as part of its 'Infosys Living Labs' initiative. This establishes Hubballi as a significant tech hub for advanced digital solutions. The centre will serve global clients across industries like manufacturing and healthcare and aims to foster local talent through partnerships with local institutions. It also supports regional growth by offering local students employment opportunities.

Nita Ambani wanted husband Mukesh Ambani to tell Nvidia CEO Jensen Huang THIS fact

Livemint

Livemint · 10m ago

Nita Ambani wanted husband Mukesh Ambani to tell Nvidia CEO Jensen Huang THIS fact

Nvidia CEO Jensen Huang and Reliance Industries Chairman Mukesh Ambani announced a partnership to build AI infrastructure in India. At the AI summit in Mumbai, Ambani jokingly mentioned that the new Jio World Centre, where the event was taking place, was built by his wife. Huang responded by joking that he could see his house in California from Ambani's house. Nvidia will supply AI processors for Reliance's data center in Gujarat, while also partnering with Indian tech giants Infosys, TCS, Tech Mahindra, and Wipro. They aim to deepen partnerships and promote AI adoption in India.

A perfect storm of colliding trends is raging: Nandan Nilekani - The Economic Times

Economic Times

Economic Times · 2m ago

A perfect storm of colliding trends is raging: Nandan Nilekani - The Economic Times

Infosys chairman Nandan Nilekani highlighted global challenges such as tariff wars and energy transitions during the AGM. He emphasized the fragmentation of global markets and the need for supply chain diversification and AI adoption. Infosys is actively training employees in AI and developing numerous generative AI projects. Nilekani stressed the importance of addressing regulatory barriers and innovation in energy sectors. Furthermore, he reassured shareholders of Infosys’ stability and relevance amid these challenges.

In slow December quarter, TCS beats Infosys

Livemint

Livemint · 1y ago

In slow December quarter, TCS beats Infosys

Tata Consultancy Services (TCS) has outperformed Infosys in the December quarter as its revenue rose by 1% sequentially, beating profit estimates. A significant portion of TCS's growth was driven by a large contract with BSNL. However, both TCS and Infosys are at risk of registering their slowest annual growth due to the global economic slowdown. Additionally, the combined workforce of both companies declined by 11,781 employees during the quarter. TCS reported a revenue of $7.28 billion and a net profit of $1.41 billion, while Infosys reported revenue of $4.66 billion and a net profit of $733 million.

Infosys, Wipro, LTIMindtree, TCS, Coforge, Mphasis, Zensar shares tumble up to 5% today, here's why

Business Today

Business Today · 5m ago

Infosys, Wipro, LTIMindtree, TCS, Coforge, Mphasis, Zensar shares tumble up to 5% today, here's why

Investors reacted nervously to uncertainties around Trump tariffs and a US market correction, resulting in notable losses for major IT stocks like Infosys, Wipro, LTIMindtree, TCS, and others. The BSE IT index dropped 795 points, while the Nifty IT index lost 818 points. Specific stock declines included LTIMindtree at 3.19%, TCS at 1.42%, Infosys at 3.85%, and Zensar Technologies at 5%, reflecting widespread market jitters within the IT sector.

Tech Inc hopes to do a SAP with Nvidia this time

Livemint

Livemint · 10m ago

Tech Inc hopes to do a SAP with Nvidia this time

Indian tech services companies, including Tata Consultancy Services (TCS), Infosys, Wipro, and Tech Mahindra, are partnering with chip giant Nvidia to leverage artificial intelligence (AI) capabilities. TCS has launched an AI-focused business unit, Infosys has developed language models using Nvidia's platforms, Wipro has created AI-based templates, and Tech Mahindra has established a center of excellence for AI adoption. The partnerships enable these companies to meet client demands for Nvidia's GPUs and AI platforms, while Nvidia expands its ecosystem. This move is reminiscent of similar alliances with software firms SAP and Oracle.

TCS, Infosys, Wipro's hiring: Top IT firms hire 13,500 in FY25; Infosys leads on wage hikes

Business Today

Business Today · 4m ago

TCS, Infosys, Wipro's hiring: Top IT firms hire 13,500 in FY25; Infosys leads on wage hikes

TCS, Infosys, and Wipro have employed a combined total of 13,553 employees for FY25, with Infosys leading in wage hikes starting January. TCS and Wipro are deferring their wage increase announcements. For FY26, Infosys aims to hire over 20,000 freshers, while TCS plans a similar or slightly increased intake compared to FY25's 42,000 recruits. Wipro is expected to maintain its hiring pace, although specific targets are not confirmed.

Infosys Partners Meta For Enterprise AI Integration

Inc42 · 10m ago

Infosys Partners Meta For Enterprise AI Integration

Infosys has announced a partnership with open source AI startup Meta to establish a centre of excellence (COE) for enterprise AI integration. The collaboration aims to promote the adoption of Meta's Llama stack, enabling tech professionals to utilise the stack for developing industry-specific use cases. As part of this initiative, Infosys has also launched an AI Experience Zone for Meta at its Bengaluru facility.

Infosys launches GIFT City Development Centre to serve global BFSI clients

YourStory

YourStory · 2m ago

Infosys launches GIFT City Development Centre to serve global BFSI clients

Infosys has opened a new development centre at Gujarat International Finance Tec-City (GIFT City) to serve global banking, financial services, and insurance clients. The centre will employ around 1,000 people in a hybrid work model, focusing on advanced digital solutions in areas like digital banking, regulatory affairs, trade finance, and more. Leveraging technologies such as AI, cloud, and blockchain, this initiative aligns with Infosys' ESG commitments, enhancing India's position in global financial technology.

GenAI set to move from hype to value as projects go live: TCS CTO Harrick Vin

Economic Times

Economic Times · 1y ago

GenAI set to move from hype to value as projects go live: TCS CTO Harrick Vin

Tata Consultancy Services (TCS) is set to launch several generative artificial intelligence (GenAI) projects this year, according to CTO Harrick Vin. The projects aim to assist and augment businesses by improving contextual awareness and boosting productivity. Vin expects the projects to go live by 2024, helping to convert them into long-term value for clients. TCS is infusing Gen AI across all levels of the company. Vin believes that the role of CTOs is changing from focusing solely on technology to redefining business processes. TCS is already working on numerous Gen AI projects with global firms and has partnered with Nvidia to enhance its AI capabilities.

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