As the adoption of Artificial Intelligence (AI) has picked up significantly across industries, return on investment(ROI) is one of the major concerns organisations have, given that major investments are being made, said Balakrishna D. R., Executive Vice President – Global Head, AI, and Automation and ECS, at Infosys.
“As there are immense possibilities with AI, navigation through it and making sure there is a reasonable return on investment is one of the major concerns businesses have. This is because there is a significant investment in infrastructure, software, and personnel,” Balakrishna told businessline.
“Implementation of AI in a scalable way in order to control cost and increase ROI is being looked at. Companies should rather have a platform-based approach for democratized use, as the cost of independent use cases is high. Protection of data and intellectual property(IP), and building expertise to keep up with rapidly evolving technologies, are the other concerns.”
Infosys has seen enhanced demand for its AI services, thanks to the interest Chat GPT was able to unleash, said Balakrishna. The company has developed over 12000 AI use cases across different industries and horizontals and has 150 pre-trained models. Infosys provides technology services, generative AI services, conversational AI, and transactional AI services, along with various industry-specific services and solutions.
Balakrishna said that the Banking, Financial Services, and Insurance (BFSI), along with automotive, retail, and healthcare industry verticals have been the frontrunners in AI adoption. He said that various other industries too are catching up now as multiple use cases are being seen across segments. AI is one of the fastest-growing services across the company as it is getting high traction, he added.
Topaz – Generative AI
Infosys recently launched Topaz, an AI-first offering to accelerate business value for global enterprises using generative AI. Balakrishna said, “It is a big market opportunity, and the potential is quite high. We see significant market traction, and we have a repository of use cases built specifically for generative AI.”
The new offering comes at premium pricing in multiple ways as it requires a specialised skill set. Albeit, even from the outcome perspective, it is premium as tasks using AI can be done much faster and with better efficiencies and value, and customers are willing to pay for the same, he added.