BENGALURU: Indian IT giant Infosys said on Friday that artificial intelligence was key to future profits as it bids to satisfy clients’ demands for innovative new technologies.
India’s multi-billion dollar IT outsourcing sector has long been one of the country’s flagship industries. But as robots and automation grow in popularity its companies are under pressure to reinvent themselves.
“We are revealing new growth with services that we (have been) focusing on for the past couple of years including — AI (artificial intelligence) and cloud computing,” said Infosys Chief Executive Vishal Sikka, announcing a small rise in quarterly profits.
Infosys reported an increase of 1.4 per cent in consolidated net profit year-on-year for the first quarter, marginally beating analysts’ expectations. Net profit in the three months to June 30 came in at 34.83 billion rupees (540 million), marginally above the 34.36 billion rupees it reported in the same period last year, Infosys said. India’s $150 billion IT sector is facing upheaval in the face of automation and US clampdown on visas, with reports of mass redundancies. — AFP
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