Technology giant Infosys recently announced signing a framework agreement with an existing strategic client to accelerate artificial intelligence and automation-powered development. During Monday’s exchange filing, Infosys also mentioned that the deal would comprise services upgradation, maintenance, and modernization.
As India’s second-largest software services exporter, Infosys plays a vital role in technological and digital advancement. The company did not disclose the client’s name but revealed that the agreement with the existing client would span five years with a target spend of approximately $2 billion.
In May, Infosys revealed a new platform, Infosys Topaz, that offers combined data analytics and generative AI services. The platform aims to make operations across the enterprise more productive and efficient through smart tools, features, and autonomous software engineering to make businesses scalable and agile.
“Infosys has entered into a framework agreement with one of its existing strategic clients to provide AI and automation-led development, modernization, and maintenance services. The total client target spend over five years is estimated at USD 2 billion,” Infosys said during the Monday exchange filing.
The AI giant also unveiled its broad and free-of-cost AI certification training program through Infosys Springboard. This initiative will help individuals upskill, reskill, and hone their talents to thrive in the uncertain job market.
As AI continues to grow and evolve, Infosys’ announced its agreement plans at a time when its competitors like Wipro and TLC revealed their plans to take AI further by researching and developing the scope of generative AI technology. Microsoft’s OpenAI generative chatbot ChatGPT made headlines around the world in late 2022, pushing companies globally to increase their AI investments.
Around the same time, Wipro announced launching its ai360 service and dedicating itself to spending around $1 billion on artificial intelligence in the following three years. The company also revealed that it would train roughly 250,000 employees on AI’s responsible and fundamental usage over the next year. The technology provider also mentioned providing personalized and continuous training to employees in its AI-centered departments.
TCS announced its plans to train 25,000 engineers on generative AI earlier this month. The company added that it would provide teaching and training on generative AI tools from Azure OpenAI over the next 36 months.
The rest of the details regarding Infosys’ $2 billion framework agreement to evolve AI will be revealed in its report in the first quarter results in mid-July.