India's second-largest software services exporter, Infosys, has made an announcement regarding a substantial deal with an undisclosed client. The deal involves providing artificial intelligence (AI) and automation services for the next five years.
The estimated agreement is expected to involve a target spend of $2 billion and will cover development, modernization, and maintenance services related to AI and automation.
While the identity of the client remains undisclosed, Infosys highlighted the incorporation of AI and automation services in the exchange filing.
This strategic decision by Infosys mirrors the global trend of companies intensifying their investments in AI, influenced by the achievements of Microsoft-backed OpenAI's generative chatbot, ChatGPT, in late 2022.
Following its rival Tata Consultancy Services (TCS), which announced plans to train 25,000 engineers for certification on Microsoft's Azure Open AI, this development has been unveiled.
In addition to Wipro, another competitor, also aiming to harness the potential of AI technologies, plans to invest $1 billion in AI over the next three years, demonstrating the industry's strong focus on this field.
In the latter part of May, Bengaluru-based Infosys introduced Infosys Topaz, an innovative platform dedicated to generative AI. This platform aligns with Infosys' strategic vision to enhance AI capabilities and provide cutting-edge solutions to its clients.
With the market eagerly anticipating Infosys' first-quarter results, set for release on July 20, this significant AI deal further solidifies the company's position as a crucial player in the ever-changing AI landscape.