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<ul><li><keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> plans to hire 25,000 freshers over the next 12 months and only 1,000 will be from overseas.</li><li>The other 24,000 freshers will be picked up from engineering campuses within India.</li><li>Last year, the IT giant only picked up 19,000 freshers from within the country, while 2,000 fresher hires were overseas.</li><li>This is a jump of over 26% from the number of freshers onboarded in the last one year from Indian colleges.</li></ul>Infosys hired around 19,000 freshers in the last 12 months, and going forward it plans to ramp up its hiring activity by 20%. “This year we added close to 21,000 freshers from campuses… and in the coming year, we’re looking at over 25,000 — both India and overseas,” said the company’s chief operating officer (COO) UB Pravin Rao during the earnings call. <br /><br />Of 21,000 freshers that Infosys onboarded last year, only 19,000 were from India. This year they plan to pick up 24,000 freshers from engineering campuses within the country and only 1,000 from overseas — that’s a 26.3% jump in the number of freshers they’re looking for within the country.<br /><br />      <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/5854601"></div>]]></cdata></div><br />However, the company saw a spike in voluntary attrition hitting 15.2% between the months of January to March, which is an increase of five percentage points over the previous quarter. "Attrition has picked up, largely reflecting a strong demand environment, but we remain confident of our employee engagement initiatives, vast talent pool and training capabilities to ensure seamless execution," said Rao.<br /><br />      <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/4012708"></div>]]></cdata></div><br /><br /><cmsannotation type="cmsannotation" annotationid="Infosys’ need for social capital warrants people to come back to office" comment="subhead" text="Infosys’ need for social capital warrants people to come back to office"><span data-til="noop">Infosys’ need for social capital warrants people to come back to office</span></cmsannotation><br />Infosys has been a <a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-follows-tcs-and-infosys-lead-says-50-of-its-employees-will-work-from-home-even-after-the-lockdown-is-lifted/articleshow/75593968.cms">strong propagator </a>of work from home and the hybrid work model — which is a mix of working from home and working from the office — but has indicated that employees will need to be in the offices more once the COVID-19 pandemic eases up. <br /><br />“We still think there will be a need to build out some social capital, and some of that will be built with people coming back to the offices,” said <keyword id="328377" type="PERSON" weightage="20" keywordseo="Salil-Parekh">Salil Parekh</keyword>.<br /><br /><strong>SEE ALSO:<br /><a href="https://www.businessinsider.in/stock-market/news/infosys-announces-buyback-worth-9200-crore-at-1750-per-share/articleshow/82066356.cms">Infosys will buy back shares at ₹1,750 in the open market</a><br /><br /><a href="https://www.businessinsider.in/business/corporates/news/infosys-had-a-great-year-but-ceo-salil-parekh-expects-the-next-one-to-be-more-than-twice-as-good/articleshow/82066467.cms">Infosys had a great year but CEO Salil Parekh expects the next one to be more than twice as good</a><br /><br /><a href="https://www.businessinsider.in/tech/apps/news/whatsapps-new-privacy-policy-doesnt-give-you-choice-and-could-limit-your-options-in-the-future-too/articleshow/82063830.cms">WhatsApp's new privacy policy doesn't give you choice — and could limit your options in the future too</a><br /></strong><br />

Infosys plans to hire 25,000 freshers over the next 12 months — a 26% boost for campus hiring in India

<ul><li><strong>Foreign portfolio investors owned $10.5 billion worth of shares of Indian insurance companies at the end of November 2019, up from just about a billion dollars at the end of October 2018.</strong></li><li><strong>Losing favour with the investors are Indian tech stocks like TCS, Wipro and Mindtree where prospects are looking bleak due to slower business and shrinking margins.</strong></li><li><strong>Private insurance players like Bajaj Allianz Life, Kotak Life, and Tata AIA Life clocked a 25.9% growth in <keyword id="168318" type="PERSON" weightage="20" keywordseo="insurance-premium">insurance premium</keyword> in November alone</strong></li></ul>Foreign portfolio investors (FPI) ⁠— foreign investors who invest in shares and bonds ⁠— have been net buyers in the Indian market for three straight months at the end of November 2019, pumping in a total of $3.14 billion last month alone. More than half of that money has gone into buying shares in the banking and financial services industry. <br /><br />The country’s insurance companies have received the lion’s share of the inflows. At the end of October 2018, foreign investors had a billion dollars invested in Indian insurance stocks. At the end of November 2019, the exposure stands at over $10.5 billion, according to a report from Edelweiss Alternative Research. A lot of that money has come from the sale of technology stocks. <br /><br />
  
  
  
  
  
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<br />The foreign investors’ bet on Indian insurance companies seems to be the right decision. The business growth for insurance majors spiked in November 2019. Private players like Bajaj Allianz Life, Kotak Life, and Tata AIA Life clocked a 25.9% growth in insurance premium in November alone, according to a research report from Emkay Financial Services. If someone waited for the data to buy these stocks, they had already missed a big bull run.<br /><br />
  
  
  
  
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<br />“The market is extremely positive about the insurance sector, because growth here has been extremely strong over the next 10-20 years. On paper, these stocks may look extremely highly valued, but you need to look at them in the light of an extremely long growth runway that lies ahead,” Srinivasan Subramanian, MD for Investment Banking at Axis Capital, told a television channel ET NOW.<br /><br />
  
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<br /><strong>Here’s why foreign investors are pulling money out of IT <br /></strong><br />The prospect for India’s tech stocks is looking bleak. The business is slower and the margin is shrinking, with the exception of Infosys. <br /><br /><table style="width: 281pt;"> </colgroup>  <tbody><tr> <td class="xl65" style="height:15.0pt;width:134pt"><strong>Company</strong></td> <td class="xl69" style="border-left-width: initial; border-left-style: none; width: 147pt;"><strong>Margin compression</strong></td> </tr> <tr> <td class="xl66" style="height: 15pt; border-top-width: initial; border-top-style: none;">TCS</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-57 basis points</td> </tr> <tr> <td class="xl66" style="height: 15pt; border-top-width: initial; border-top-style: none;">Tech Mahindra</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-40 basis points</td> </tr> <tr> <td class="xl66" style="height: 15pt; border-top-width: initial; border-top-style: none;">Mindtree</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-89 basis points</td> </tr> <tr> <td class="xl66" style="height: 15pt; border-top-width: initial; border-top-style: none;">L&amp;T Tech</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-26 basis points</td> </tr> <tr> <td class="xl66" style="height: 15pt; border-top-width: initial; border-top-style: none;">Cognizant</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-34 basis points</td> </tr> <tr> <td class="xl67" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Infosys </td> <td class="xl71" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">+21 basis points</td> </tr></tbody></table><em>Source: Investec Securities</em><br /><br />The troubles are far from over. “We continue to expect continued pressures on revenue leading to decelerating revenue growth and PE (price to earnings) multiple contraction driven by weakness in BFS (banking and financial services) and retail. Amongst Tier-1s, TCS saw the biggest consensus EPS downgrade while Mindtree saw the biggest downgrade among Tier-2s in the last 3 months,” Investec Securities said in its December 4 report.<br /><br /><table style="width: 159pt;"> </colgroup>  <tbody><tr> <td class="xl69" style="height:15.0pt;width:74pt"><strong>Stock</strong></td> <td class="xl70" style="border-left-width: initial; border-left-style: none; width: 85pt;"><strong>One year Change</strong></td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">HCL Tech</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">13.01%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Tech Mahindra</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">6.97%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">TCS</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">6.17%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Infosys </td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">0.74%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Wipro</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-2.39%</td> </tr> <tr> <td class="xl67" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Mindtree</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-11.98%</td> </tr></tbody></table><br />SEE ALSO:<br /><a href="https://www.businessinsider.in/personal-finance/bharat-bond-etf-launch-is-the-best-tax-saving-plan-learn-how-to-buy-and-save-taxes/articleshow/72484444.cms" data-type="tilCustomLink" target="_blank">The best thing about Bharat Bond ETF is the tax benefit— especially for those in the highest income bracket</a><br /><br /><a href="https://www.businessinsider.in/stock-market/news/boris-johnson-is-not-the-only-one-celebrating-a-possible-historic-majority-for-uk-conservatives-a-bunch-of-indian-stocks-are-thrilled-too/articleshow/72501071.cms" data-type="tilCustomLink" target="_blank">Boris Johnson is not the only one celebrating a historic majority for UK conservatives— a bunch of Indian stocks are thrilled too</a><br /><br /><br />

The amount of Indian insurance stocks foreign investors hold has grown ten-fold in just about a year

<a href="http://www.businessinsider.in/searchresult.cms?query=Infosys+&amp;sortorder=effectivedate">Infosys </a>has promoted President and Chief Delivery Officer, <keyword id="164937" type="PERSON" weightage="100" keywordseo="Ravikumar">Ravikumar</keyword> S, to the Deputy Chief Operating Officer and he will report to <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword> COO U B Pravin Rao with immediate effect.<br />
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His current responsibility was heading the global delivery organization and now along with it, Ravikumar S will oversee certain strategic business enabling functions and will be based in India.<br />
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Infosys CEO <a href="http://www.businessinsider.in/searchresult.cms?query=Vishal+Sikka&amp;sortorder=effectivedate">Vishal Sikka</a> said the appointment will provide "more bandwidth".<br />
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"Ravi is just amazing, he is an extraordinary colleague. Just look at the scale at which we operate, it is massive. So, Pravin and I both need more bandwidth," he tols ET.<br />
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Sikka added that changes will continue to happen even though "there is no particular grand plan".<br />
<br /> Ravikumar also oversees Infosys operations in Japan. He is the Chairman of the Board of <keyword id="305987" type="COMPANY" weightage="20" keywordseo="Infosys-China">Infosys China</keyword> and is also on the board of Infosys Public Services, Infosys Consulting Holding AG, Panaya (an Infosys company) and McCamish Systems (an Infosys BPO company).<br />
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Infosys had elevated Jayesh Sanghrajka as Deputy CFO in 2015.<br />
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"Jayesh is the deputy CFO to Ranga (Ranganath Mavinakere) and so, Praveen now has a deputy. So this is how we are setting it up," he told ET.<br />
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When asked if Ravikumar's appointment as his deputy is an indication that he would be stepping down from his position, Rao quipped that he is in "no hurry to retire".<br />
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"...we had lot more senior bandwidth based out of India. And our business has continued to grow and become much more copmplex and we need more bandwidth here and so that's the primary reason (for the appointment)," Raotold ET.<br />
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Ravikumar, who joined Infosys in 2002, had started his career as a nuclear scientist at the <a href="http://www.businessinsider.in/searchresult.cms?query=Bhabha+Atomic+Research+Centre&amp;sortorder=effectivedate">Bhabha Atomic Research Centre</a>.<br />
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He has also worked with Sapient Corporation, Oracle Corporation, Cambridge Technology Partners and PricewaterhouseCoopers.

Meet Ravikumar S, the new Deputy COO of Infosys

<p><div class="KonaFilter image-container display-table lead-image-large"><div><div class="image on-image"><p class="source"><span>Infosys</span></p><p class="caption">Simon Moss is the global head of AI and automation at consulting firm Infosys.</p></div><p></p></div></div></p><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><strong><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories</a>.</strong></li></ul><p>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. </p><p>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.</p><p>"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." </p><p>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.</p><p>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?</p><p>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.</p><p>He shared the three steps companies should take to bypass the hype and start their AI journey off on solid-footing. </p><h2>Determine the end goal before starting</h2><p>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.</p><p>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.</p><p>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.</p><h2>Begin with 'very small projects' that can be easily measured</h2><p>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.</p><p>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.</p><p>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.</p><p>"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.</p><p>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.</p><h2>Create an AI 'center of excellence'</h2><p>Often, the various business units within a company will be testing out different applications.</p><p>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.</p><p>That's why having a central entity to manage all those projects is critical.</p><p>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.</p><p>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.</p><p><em><strong>Read more: </strong><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></em></p><p>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.</p><p>One thing to avoid is placing too many protocols around how the entity operates, argues Moss.</p><p>"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."</p><p>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.</p>    <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

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<br /> Some of you might have heard of <keyword id="6355684" type="UNKNOWN" weightage="100" keywordseo="Blockchain">Blockchain</keyword>. You might have read that it could disrupt and change banking, payments and other financial services forever. Perhaps you are wondering how it might affect you, especially if you are employed in the financial services industry.<br />
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So let us clear the air to start with. Blockchain is the technology underlying the virtual currency, Bitcoin. But while Bitcoin has received a mixed response, there is widespread interest in Blockchain for a variety of reasons that we will talk about later. Many people believe Blockchain technology could revolutionise banking, payments and a host of allied activities.<br />
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Like every revolution preceding it, Blockchain too is giving rise to fears of job loss and redundancy. But actually every revolution in the past – whether it was the development of agriculture or the invention of electricity, radio, railroad or aircraft – has made human lives better than before. It is the same with the digital revolution, which, by giving us the tools of Internet and Mobility, has helped us to become more innovative and efficient, and amplified our potential in countless other ways.<br />
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Blockchain is no different. In fact, implemented right, it can deliver a variety of benefits as discussed in the following paragraphs.<br />
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Think of Blockchain as a very large, public spreadsheet in which various transactions are noted. A network of people or their representative computers has access to this spreadsheet, and is responsible for validating each transaction by consensus. Once a transaction is certified as genuine and consummated, it cannot be modified, recalled or repudiated. This makes the transaction highly secure.<br />
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In this scenario, there is really no need for a central agency, such as a stock exchange or clearing house, for bringing the contracting parties together or facilitating the deal. That means the parties to the transaction can conclude their business safely, securely and largely anonymously, without involving an intermediary. This yields several benefits – the parties have complete visibility into the transaction; there are no commissions or fees; and settlement can happen within seconds.<br />
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Blockchain can also be used to secure old-world transactions involving cash and plastic. One only needs to digitize the currency or card and register it on the network. Then, even if someone steals the money or card, they will not be able to transact with it, because the network will reject it as invalid. In India, the Reserve Bank is considering using Blockchain technology to reduce cheque counterfeiting. Digitized cheques can reduce the use of paper as well as the risk of theft and fraud. And if someone who continues to use paper cheques after digitization loses one, they are still protected because no other person will be able to use it.<br />
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Property transaction is another very obvious area of application, where everything from land records to sale deeds can be uploaded on to Blockchain for validation and protection both. The same applies to the sale and purchase of financial assets such as securities and insurance.<br />
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A very interesting feature of Blockchain is that it allows even very small investors to buy a share in highly valued assets, such as art, for instance. You might know that it is possible to buy a fraction of a Bitcoin, which is currently valued at about US$ 670, and trade it at will. Similarly, every other valuable asset can be digitized and broken into small components using Blockchain and offered to investors who cannot afford the whole.<br />
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These are some of the known benefits of Blockchain. As the technology matures and adoption increases, who knows what other possibilities might open up?<br />
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<em>About the author: <keyword id="3533500" type="UNKNOWN" weightage="100" keywordseo="Rajashekara-V-Maiya">Rajashekara V. Maiya</keyword> is the Associate Vice President &amp; Head – <keyword id="3533499" type="UNKNOWN" weightage="100" keywordseo="Finacle-Product-Strategy">Finacle Product Strategy</keyword></em> <em>at <keyword id="2237108" type="UNKNOWN" weightage="100" keywordseo="Edgeverve">EdgeVerve</keyword> (an Infosys Company)</em><br />
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<a href="http://www.coinfox.info/images/blockchain-tech-follow-my-vote.jpg"><em>Image source</em></a><br />

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Infosys plans to hire 25,000 freshers over the next 12 months — a 26% boost for campus hiring in India

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The amount of Indian insurance stocks foreign investors hold has grown ten-fold in just about a year

Sriram Iyer

Meet Ravikumar S, the new Deputy COO of Infosys

BI India Bureau

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

Benefit with Blockchain

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