Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Last week, tech giant <keyword id="19906778" type="General" weightage="100" keywordseo="Infosys" source="keywords" meta.keywordsubtype="org" meta.entityname="Infosys" meta.hostid="153" meta.entityid="Infosys">Infosys</keyword> was making headlines for delaying onboarding of thousands of freshers for more than two years. It was reported that freshers had been awaiting onboarding since 2022 but nothing was happening on that front. The Nascent Information Technology Employees Senate (<keyword id="20033579" type="General" weightage="20" keywordseo="NITES" source="keywords" meta.keywordsubtype="org" meta.entityname="NITES" meta.hostid="153" meta.entityid="NITES">NITES</keyword>) even filed a formal complaint against the company. Now, <keyword id="21949326" type="General" weightage="20" keywordseo="Infosys-CEO" source="keywords">Infosys CEO</keyword> Salil Parekh has said that everyone with a job offer will be a part of the company even though there are “delays.” <h2>Infosys CEO reassures graduates</h2> Infosys has confirmed its commitment to honour all <keyword id="20345755" type="General" weightage="20" keywordseo="offers" source="keywords">offers</keyword> extended to fresh engineering graduates, despite ongoing delays in the onboarding process. CEO Salil Parekh recently addressed concerns that have been brewing among thousands of freshers, saying that while some joining dates have been adjusted, every candidate who received an offer will join the company. In a statement, Parekh told PTI, "Every offer that we have given, that offer will be honored, and those individuals will join Infosys. We have adjusted some dates, but beyond that, there is no change in our approach." According to a CNBC report, Parekh also said that the rising interest in Generative AI (GenAI) among clients is a positive sign for future growth. He added that while GenAI is driving significant change within the industry, it will not lead to layoffs at Infosys, a point of distinction compared to trends seen at other tech firms. <div type="Article" hostid="261" msid="112669758" title="Infosys delays onboarding of 2,000 graduates for more than 2 years, NITES files complaint" mstype="2" mssubtype="0"></div> Parekh’s reassurances come in response to growing unrest among freshers from the 2022 batch, many of whom have been waiting for nearly two years to start their careers at Infosys. <h2>What is happening with Infosys hiring?</h2> For the unversed, the Nascent Information Technology Employees Senate (NITES), a Pune-based IT employee union, recently filed a formal complaint with the Ministry of Labour and Employment, accusing Infosys of delaying the onboarding of over 2,000 engineering graduates. These graduates were selected for roles such as system engineers and digital specialist engineers during the company’s 2022-23 recruitment drive. According to NITES, the affected graduates received their offer letters as early as April 2022 but have since faced continuous delays, unpaid pre-training programs, and additional assessments that were not initially communicated. Despite fulfilling all the requirements, these professionals have been left in limbo, unable to begin their careers. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/work-life-balance-is-a-myth-photo-of-man-working-in-front-of-momo-stall-goes-viral-internet-reacts/articleshow/112516510.cms" data-type="tilCustomLink" target="_blank">'Work-life balance is a myth’: Photo of man working in front of momo stall goes viral, Internet reacts</a> <a href="https://www.businessinsider.in/tech/article/arrange-or-love-marriage-debate-is-passe-people-are-now-marrying-their-ai-partners/articleshow/112522764.cms" data-type="tilCustomLink" target="_blank">Arrange or love marriage debate is passe, people are now marrying their AI partners</a>

Everyone will join, there is no change: Infosys CEO after delaying joining of 2,000 freshers for over two years

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">HBO</div></div></div>DAVOS, SWITZERLAND - 80% of companies that are adopting artificial intelligence pledge that they will still retain and retrain existing staff, according to a report by tech and consulting firm Infosys.The group polled 1,600 "senior business decision makers" at some of the largest organisations in the world in its report "Amplifying Human Potential: Towards Purposeful Artificial Intelligence," released on Tuesday. The report found that companies across the globe are counting on adopting AI to radically boost their revenue and streamlining their organisation's structure. Meanwhile, in just three years' time, 39% of those "currently or planning to use AI technology" believe that their group's revenue will be boosted.However, the biggest topic of concern that crops up is what happens to those who lose their job for more automated work.The World Economic Forum said in a 2016 report entitled "<a href="http://www.weforum.org/reports/the-future-of-jobs">The Future of Jobs</a>" that 7.1 million jobs could be lost through redundancy, automation, or disintermediation by 2020. While the creation of 2.1 million new jobs - mainly in more specialised areas such as computing, math, architecture, and engineering - could offset some of the losses, that's still a net reduction of 5 million.This year, WEF said in its benchmark <a href="http://uk.businessinsider.com/wef-global-risks-report-2017-not-brexit-populism-but-unemployment-energy-prices-2017-1">"Global Risks" report for 2017 that the biggest risk for doing business globally is unemployment or underemployment - mainly due to increased automation.</a>But according to Infosys's report, it looks like many businesses are pledging - at least for now - to help retrain existing workers.Here are the key responses from the report:<ul><li>76% cite AI as fundamental to the success of their organisation's strategy.</li><li>64% believe that their organisation's future growth is dependent on large-scale AI adoption.</li><li>62% believe that "stringent ethical standards are needed to ensure the success of AI - most respondents seem optimistic about redeploying displaced employees with higher value work."</li><li>85% "plan to train employees about the benefits and use of AI."</li><li>80% of companies that are already planning to replace human jobs with robots "will retrain or redeploy displaced employees."</li></ul>"AI adoption is on the rise and we are excited to see the investments in AI that businesses are gradually making to derive meaningful and creative change. The achievements are remarkable and the opportunities AI is bringing forth are vast. As we are seeing AI mature and gain momentum, our research shows that the next four years will witness further spikes in interest, and general bullishness about the significant value and benefits that can be obtained through AI adoption," said Sandeep Dadlani, president and head of Americas for Infosys."As an industry therefore, we must take necessary steps to ensure AI is developed morally and ethically across every part of society and that employees are actively engaged and provided with the necessary training to be central to this journey." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/trump-used-corporate-bankruptcy-stay-rich-2016-12">How Donald Trump used bankruptcy to stay rich</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="NscnRseDqHjvzkuXkzuTkzEe5ccDcaP0" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Most of the world's largest companies promise to retrain staff even if robots replace jobs

<ul><li><keyword id="19906778" type="General" weightage="100" keywordseo="Infosys" source="keywords" meta.keywordsubtype="org" meta.entityname="Infosys" meta.hostid="261" meta.entityid="Infosys">Infosys</keyword> has delayed hiring of 2000 young professionals</li><li><keyword id="20033579" type="General" weightage="20" keywordseo="NITES" source="keywords" meta.keywordsubtype="org" meta.entityname="NITES" meta.hostid="261" meta.entityid="NITES">NITES</keyword> has filed a complaint in the matter</li><li>Infosys is also making headlines for its new Power Programme</li></ul> The Nascent Information Technology Employees Senate (NITES), a Pune-based <keyword id="22859482" type="General" weightage="20" keywordseo="IT-employee-union" source="keywords">IT employee union</keyword>, has filed a formal complaint with the Ministry of Labour and Employment against Infosys. The union alleges that Infosys has delayed the <keyword id="22570539" type="General" weightage="20" keywordseo="onboarding-process" source="keywords">onboarding process</keyword> for around 2,000 <keyword id="22859483" type="General" weightage="20" keywordseo="fresh-engineering-graduates" source="keywords">fresh engineering graduates</keyword> for over two years, leaving them in a state of uncertainty and distress. <h2>Infosys delayed freshers' onboarding for more than two years</h2>According to NITES, these graduates were selected for roles such as system engineer and digital specialist engineer as early as April 2022. Despite receiving offer letters, the onboarding process has been repeatedly postponed. The affected graduates were required to participate in unpaid pre-training programs and undergo additional, unexpected assessments, further complicating their entry into the workforce. NITES claims that despite fulfilling all the prerequisites set by Infosys, these young professionals have been kept in limbo, leading to significant frustration and anxiety. The union views this situation as a serious breach of trust by Infosys, which has long been regarded as one of the pillars of India’s IT industry. Harpreet Singh Saluja, President of NITES, expressed deep concern over the situation, emphasizing the broader implications for the Indian IT sector. “We believe that this is not just a breach of trust by one of India’s largest IT companies, but also a significant issue that impacts the future of our country’s <keyword id="22360158" type="General" weightage="20" keywordseo="IT-workforce" source="keywords">IT workforce</keyword> and economy. We are calling on the government to take immediate and strict action against Infosys to ensure that such exploitative practices are halted and that the rights of these young professionals are protected,” Saluja said, according to a report by The Economic Times. The complaint filed by NITES highlights that even after long delays, the graduates were asked to participate in an unpaid virtual pre-training program from July 1 to July 24, 2024. They were promised final joining dates of either August 19 or September 2, 2024. However, despite completing the training, they were informed that they would need to retake the exam offline, once again without pay. This has only added to their frustration and uncertainty about their future with the company. <h2>Infosys’ Power Programme</h2>In a contrasting development, Infosys is also making headlines for its recent campus placement drive, where it has introduced a new 'power programme.' According to a report by The Times of India, the company is offering pay packages of up to Rs 9 lakh per annum to select colleges, a significant increase from its standard entry-level packages, which typically range from Rs 3-3.5 lakh. This move is seen as part of Infosys’ strategy to attract highly specialized talent in areas such as coding, software development, cloud computing, AI/ML, and cybersecurity. Infosys plans to hire between 15,000 and 20,000 graduates in FY25. During its earnings call last month, Infosys announced plans to resume campus placements and off-campus fresher hiring in the current fiscal year. The top four IT firms in India are expected to collectively add about 82,000 freshers in FY25. Among them, HCLTech and <keyword id="19945574" type="General" weightage="20" keywordseo="wipro" source="keywords">Wipro</keyword> plan to hire 10,000 and up to 12,000 freshers, respectively. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/work-life-balance-is-a-myth-photo-of-man-working-in-front-of-momo-stall-goes-viral-internet-reacts/articleshow/112516510.cms" data-type="tilCustomLink" target="_blank">'Work-life balance is a myth’: Photo of man working in front of momo stall goes viral, Internet reacts</a> <a href="https://www.businessinsider.in/tech/article/arrange-or-love-marriage-debate-is-passe-people-are-now-marrying-their-ai-partners/articleshow/112522764.cms" data-type="tilCustomLink" target="_blank">Arrange or love marriage debate is passe, people are now marrying their AI partners</a>

Infosys delays onboarding of 2,000 graduates for more than 2 years, NITES files complaint

<div class="KonaFilter image-container display-table lead-image-large"><div><div class="image on-image">InfosysSimon Moss is the global head of AI and automation at consulting firm Infosys.</div></div></div><ul class="summary-list"><li>Companies can have a difficult time separating out the hype around AI with how the technology can actually benefit their operations. </li><li>The journey to adopt AI internally, however, is one that can take as long as 10 years. That's why Simon Moss, the global head of AI and automation at consulting firm Infosys, says companies need to start now.</li><li>The first step should be a small, low-risk move. But as the efforts scale, it's imperative that organizations form a central entity to manage all the AI projects, Moss suggests. </li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories</a>.</li></ul>Interest in artificial intelligence is at a <a href="https://venturebeat.com/2019/10/08/ai-startups-pace-break-funding-records-2019/">fever pitch</a>, but it can be difficult for corporations to determine whether it's all hype or if the advanced tech can actually improve operations. While there remains a healthy amount of cynicism around the technology, it's imperative that organizations begin to think about incorporating it now - especially because the journey can take as long as 10 years, according to Simon Moss, the global head of AI and automation at consulting firm Infosys."The decisions around a cluster of separate but deeply related technology innovations are existential to whether a firm will be strategically successful or not over the next decade," he told Business Insider. "It's a huge challenge. Not a wave, but a tide as impactful as the internet, transforming the very DNA of the enterprise." Companies are already using AI in a number of different ways, including to help figure out <a href="https://www.businessinsider.com/ai-promises-to-deepen-the-divide-in-the-retail-industry-2019-8">whether store shelves need to be restocked</a> or to <a href="https://www.businessinsider.com/how-careerbuilder-is-using-ai-to-revolutionize-hiring-2019-10">cut back the number of potential applications</a> that human resources departments must review for open positions.Still, the <a href="https://www.bmc.com/blogs/cio-ai-artificial-intelligence/">vast amount of AI efforts fail</a>. That means to avoid the pitfalls, executives need to focus more heavily on answering a key question: how do I get started?Infosys is an organization with over 228,000 employees that has helped companies like Pfizer and e-commerce firm Radial, Inc. on their digital journey. At the firm, Moss has been spending ample time helping companies overcome that challenge.He shared the three steps companies should take to bypass the hype and start their AI journey off on solid-footing. <h2>Determine the end goal before starting</h2>What companies are hoping to get out of AI is likely to not only vary by organization, but also within various business units. That can make figuring out the overarching goals more difficult.For some, it may be achieving operational efficiency in supply chains. For others, like retail companies, it can be better understanding the end consumer to enhance marketing efforts and tailor promotional offers.It's a critical part of the foundation of AI-based projects because it helps inform other questions, including the state of the digital infrastructure and whether the initiative can succeed. Without the right stored data, for example, it can be impossible to power the applications.<h2>Begin with 'very small projects' that can be easily measured</h2>Gone are the days of sweeping, enterprise-wide projects that can cost upwards of hundreds of millions of dollars. Instead, <a href="https://www.businessinsider.com/accentures-ai-leader-outlines-checklist-for-firms-weighing-the-tech-2019-9">like other consultants</a>, Moss advises companies to start small.Organizations, for example, could relatively easily develop and use technology like <a href="https://towardsdatascience.com/introduction-to-natural-language-processing-for-text-df845750fb63">natural language processing</a> to understand, organize, and consume vast amounts of documents. Or they could employ robotic process automation (RPA) in sectors like customer service that can, among other things, help agents quickly compile information on those calling in.It's a common area for companies to start their AI journey on. In fact, <a href="https://www.gartner.com/en/newsroom/press-releases/2018-11-13-gartner-says-worldwide-spending-on-robotic-process-automation-software-to-reach-680-million-in-2018">Gartner has estimated</a> that spending on RPA could top $2.4 billion in the next three years. The key, according to Moss, is choosing a low-risk area that can produce a quick return on investment."That gives a client a sense of confidence they can control their destiny, and frankly control their careers, that they're not signing up for a $100 million system-integration project," he said.As employees become more comfortable with the technology, Moss says executives can begin scaling those initially rudimentary projects to incorporate deeper machine learning and drive a higher value.<h2>Create an AI 'center of excellence'</h2>Often, the various business units within a company will be testing out different applications.Human resources, for example, could be using AI-based tools to cut down on the number of applications they review per open position. Meanwhile, store operations might be tapping into the technology to try to reduce shoplifting incidents.That's why having a central entity to manage all those projects is critical.Organizations need a "marketplace that allows a common philosophy, that allows common security - particularly around personal identity information - that puts in a framework of scale and resiliency around design, and begins to impose a common philosophy around what is a huge amount of intrepreneurial endeavors," Moss said.One major benefit is to cut down on the number of bespoke efforts. Instead of different departments hiring their own data scientists to pursue AI-based endeavors, a so-called "center of excellence" can flag any duplication and find ways for platforms to be used across business units.Read more: <a href="https://www.businessinsider.com/ibms-watson-head-outlines-model-for-successful-digital-overhaul-2019-10">The head of IBM's Watson walks us through the exact model tech leaders can use to build excitement around any AI project</a>The involvement of such an entity, however, will vary by organization. Those just starting out on their journey, for example, might just use it as a project database to keep other leaders informed. More established companies might employ a center to ensure all initiatives align with a core philosophy that define and guide all AI-based efforts.One thing to avoid is placing too many protocols around how the entity operates, argues Moss."You don't want to suffocate that with too much bureaucracy and administration," he said. "That's a balance between discipline, rigor, and innovation that is something that cannot be designed as a cookie cutter [model]. It has to be specific to the culture of the customer."Bypassing the hype and starting on an AI journey can be difficult. But these three steps can serve as a key launchpad to help organizations at least start to formulate a strategy. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/taylor-swift-net-worth-singer-millionaire-makes-spends-money-wealth-2019-4">Taylor Swift is the world's highest-paid celebrity. Here's how she makes and spends her $360 million.</a></h3> <div> </div> </div>

Here are the 3 steps companies that are just pivoting to AI should take to guarantee the process starts on a solid footing

IT services company <keyword id="6354512" type="General" weightage="80" keywordseo="infosys" source="Orion">Infosys</keyword> on Thursday announced a three-year partnership with <keyword id="24244" type="General" weightage="50" keywordseo="rafael-nadal" source="Orion">Rafael Nadal</keyword>, onboarding the global tennis star as ambassador for the brand and Infosys' Digital Innovation. To mark Nadal's first-ever collaboration with a digital services company, Infosys and Nadal's coaching team are developing an AI-powered match analysis tool, the Bengaluru-headquartered company said in a release. This personalised tool will be available in real time to Nadal's coaching team to simultaneously track insights from his live matches, when he is back on tour, along with historical data from his earlier matches. The company release announced the partnership, saying "Infosys onboards tennis icon Rafael Nadal as ambassador for the brand and Infosys' Digital Innovation." According to Infosys, Nadal is a perfect embodiment of what it takes individuals or business leaders to evolve and continually navigate their next. Globally acknowledged as one of the legends in sports, he also has had the ability to change with the changing rigors of tennis over the years. "I'm very happy to work closely with Infosys, as they work to not only evolve the experience of tennis to the times, but also empower people in our communities to be part of a brighter future. I love the way Infosys has brought its digital expertise across industries to the global tennis ecosystem," Nadal said. <keyword id="328377" type="General" weightage="50" keywordseo="salil-parekh" source="Orion">Salil Parekh</keyword>, Chief Executive Officer and Managing Director, Infosys said it is an honour to welcome Nadal, one of the world's most respected champion athletes and humanitarians, as an ambassador for Infosys. "He is someone who personifies the spirit of always evolving, never giving up, utmost dedication and determination to give the very best in every situation," Parekh said.

Infosys ropes in tennis icon Rafael Nadal as brand ambassador

<ul><li>Research in artificial intelligence (AI) has grown seven-fold since 1996 but India still lags woefully behind, according to a new report by Tata Consultancy Services (TCS).</li><li>The Indian government does not have regulations to govern the development of AI and existing laws are ambiguous.</li><li>India's private sector — Wipro, Infosys, TCS, and Tech Mahindra — also lag behind their global counterparts.</li></ul>Most people use artificial intelligence (AI) <a href="https://www.businessinsider.in/how-ai-is-changing-everything/amp_articleshow/70440341.cms">at least once a day</a> to help them carry out a task. Even something as basic as Google Search has an AI-powered algorithm behind it to make it more efficient. Machines are only set to get smarter as more applications of AI come to light. Research around AI has grown by seven-fold since 1996, according to a study by Tata Consultancy Services (<a href="https://www.businessinsider.in/business/news/tcs-partners-qualcomm-to-launch-new-innovation-hub/articleshow/72146373.cms">TCS</a>). Yet, India lags far behind. “We have one of the best technology talent pools in the world. If we fast-track and balance our progress on innovation, IP management, and entrepreneurship, we can realize the potential to become a global AI powerhouse,” said Santosh Mohanty, the Global Head for Components Engineering Group at TCS. Lacking in research Most of the research in AI over the past couple of years have been from scientists in the US, Europe, and China. In fact, the Chinese Academy of Sciences (CAS) holds the largest patent portfolio that deals explicitly with deep learning — a subset of AI where the focus is on recognizing patterns by mimicking how neurons interact in the human brain. It's hardly surprising since out of 22,000 PhD researchers around the world, only 386 are from India, <a href="https://m.economictimes.com/small-biz/startups/features/in-the-race-for-ai-supremacy-has-india-missed-the-bus/articleshow/69836362.cms">according</a> to the Global AI Talent Report 2018. Lacking in laws Adding fuel to the fire, India also has no guidelines to govern the development of AI. Until 2002, computer-related inventions were deemed ineligible for patents. Even though that has now changed, the existing laws pose their own challenges — like being too ambiguous and vague. For instance, an algorithm can't be patented until it has a practical application or use case — even if it's solving a problem behind the scenes. Lacking in innovation Even though Infosys, <a href="https://www.businessinsider.in/tcs-plans-to-hire-18000-freshers-in-next-3-months/articleshow/70146189.cms">TCS</a>, Wipro, and Tech Mahindra are <a href="https://www.businessinsider.in/business/news/six-of-top-10-firms-add-rs-2-4-lakh-cr-in-m-cap-tcs-leads-charge/articleshow/72092278.cms">tech giants</a> in the Indian software industry — they too lag behind their global counterparts when it comes to AI. Currently, the top five patent applicants are IBM, Microsoft, Toshiba, Samsung, and NEC. All of them, except for IBM, are focused on <a href="https://www.businessinsider.in/tech/news/facial-recognition-is-on-the-rise-but-artificial-intelligence-is-already-being-trained-to-recognize-humans-in-new-ways-including-gait-detection-and-heartbeat-sensors/amp_articleshow/71808229.cms">computer vision</a> — a form of machine perception that used deep learning to identify objects, videos, and images. IBM, on the other hand, is focused on natural language processing — like chatbots. Alphabet, Google's parent company, is second only to the Chinese tech giant — Baidu — in owning portfolios of patents related to deep learning. If India wants to create a <a href="https://www.businessinsider.in/everything-ravi-shankar-prasad-wants-google-to-do-in-india/articleshow/71203999.cms">$1 trillion digital economy</a>, it has a long way to go in enabling its software engineers and scientists to be at the forefront of AI. See also: <a href="https://www.businessinsider.in/india-plans-for-facial-recognition-without-law-in-place-to-regulate/articleshow/70201128.cms">India is all set to deploy facial recognition but there is no law in place to keep a check</a> <a href="https://www.businessinsider.in/india-personal-data-protection-bill-global-ceo-concerns/articleshow/68389336.cms">Here's what global tech CEOs have to say about India's data protection laws</a> <a href="https://www.businessinsider.in/tech/news/data-localisation-wont-help-local-firms-or-improve-privacy-but-it-could-cost-india-43-billion/articleshow/72251167.cms">Data localisation won't help 'local' firms or improve privacy — but it could cost India $43 billion</a>

India wants to be on the cusp of artificial intelligence but lacks the laws to back it up

India’s second largest software exporter Infosys has formed a special investment committee on its board to keep a watch on all new acquisitions and big investments of the company. <keyword id="6369763" type="PERSON" weightage="80" keywordseo="Vishal-Sikka">Vishal Sikka</keyword>, the CEO of the Bengaluru-headquartered IT MNC, is aggressively pursuing buyouts as the company wants to generate $20 billion of revenue by 2020. 
 Its rivals, both <keyword id="10862" type="CITY" weightage="80" keywordseo="Wipro">Wipro</keyword> and <keyword id="6357585" type="CITY" weightage="80" keywordseo="Tata-Consultancy-Services">Tata Consultancy Services</keyword> (TCS), have a special committee to oversee decisions regarding strategy planning, capital expenditure programmes, acquisitions and investments. Roopa Kudva, new board member and managing director of <keyword id="211875" type="ORGANIZATION" weightage="80" keywordseo="Omidyar-Network">Omidyar Network</keyword>'s India operations, would chair the committee that comprises board veteran and former <keyword id="28250" type="CITY" weightage="80" keywordseo="Microsoft-India">Microsoft India</keyword> chairman <keyword id="50299" type="PERSON" weightage="80" keywordseo="Ravi-Venkatesan">Ravi Venkatesan</keyword> among other board members, two people familiar with the development told the Economic Times. 
	 

	"Infosys felt that creating a committee to oversee acquisitions was a necessity, given the company's more aggressive stance on acquisitions and investments under Sikka — this committee will be responsible for vetting and overseeing all decisions the company makes on acquisitions, along with the approval of the rest of the board," said one of them. 
	 

	Infosys declined to confirm whether such a committee had been formed. "We do not comment on rumours or speculation," a company spokeswoman said in an email response to ET. 
 

	Sikka has said that he wants acquisitions to generate at least $1.5 billion of that. According to the company's quarterly report, Infosys had cash and cash equivalents of about $5.2 billion as of March 31, 2015. Earlier, in an interview to ET, Sikka said that Infosys would be very aggressive in chasing buyouts. In February, days after the software company bought automation startup <keyword id="2728667" type="UNKNOWN" weightage="80" keywordseo="Panaya">Panaya</keyword> for about Rs 1,200 crore ($200 million), the first non-founder CEO of Infosys said, "We have a dozen targets we are looking at now." Infosys made another large acquisition and bought ecommerce services provider <keyword id="2822310" type="UNKNOWN" weightage="80" keywordseo="Kallidus">Kallidus</keyword> (also known as Skava) for $120 million in April. "Anytime we see a company with talent, capabilities and IP in these areas (AI and collaboration technology) we would love to go for an acquisition," said Sikka, a former SAP board member. 
	 

	Both the Panaya and Skava acquisitions were vetted by the newly-formed investment committee on the Infosys board, said the two sources quoted above. 
	 

	The formation of this committee comes at a crucial juncture for Infosys, which is making big bets in newer areas of technology as part of Sikka's overall plan to turnaround the fortunes of the company and also when rivals such as TCS and Wipro are trying to make similar investments to gain a first-mover advantage in areas such as artificial intelligence and automation. Sandra Notardonato of <keyword id="6371981" type="CITY" weightage="80" keywordseo="Gartner">Gartner</keyword> Research said, to achieve the compound annual rate of revenue growth of 18% implied by the $20 billion target, Infosys is counting on $1.5 billion in acquisitions, 10% contribution from new service areas and 15% internal growth. It’s worth noting that Infosys’ rival Wipro also has a committee that oversees decisions around acquisitions, among other things. Wipro's billionaire chairman <keyword id="6419840" type="PERSON" weightage="80" keywordseo="Azim-Premji">Azim Premji</keyword>, CEO TK Kurien, board veterans <keyword id="2881183" type="PERSON" weightage="80" keywordseo="William-Arthur-Owens">William Arthur Owens</keyword> and Jagdish Sheth, and former head of <keyword id="6528042" type="CITY" weightage="80" keywordseo="Hewlett-Packard">Hewlett-Packard</keyword>'s printing business Vyomesh Joshi are currently part of this committee. Even Tata Consultancy Services has an executive committee that oversees decisions around capital expenditure programmes, acquisitions and investments. Members of the committee include TCS CEO N Chandrasekaran, <keyword id="6355725" type="CITY" weightage="80" keywordseo="Tata-Group">Tata Group</keyword> chairman <keyword id="6356895" type="PERSON" weightage="80" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword>, former company veteran S Ramadorai, Harvard Business School professor Clayton Christensen and board veteran Ron Sommer. 
	 
	(Image: Indiatimes)

You Searched For "Infosys AI" and got 7 results

Everyone will join, there is no change: Infosys CEO after delaying joining of 2,000 freshers for over two years

Divyanshi Sharma

Most of the world's largest companies promise to retrain staff even if robots replace jobs

Lianna Brinded

Infosys delays onboarding of 2,000 graduates for more than 2 years, NITES files complaint

Divyanshi Sharma

Here are the 3 steps companies that are just pivoting to AI should take to guarantee the process starts on a solid footing

Joe Williams

Infosys ropes in tennis icon Rafael Nadal as brand ambassador

PTI

India wants to be on the cusp of artificial intelligence but lacks the laws to back it up

Prabhjote Gill

Infosys CEO Vishal Sikka creates a special panel to look into all acquisitions

BI India Bureau

Popular Keywords

Buying Guides