Infosys signs $2 billion AI and automation deal

Infosys has announced an agreement to provide artificial intelligence (AI) and automation services to an existing client. The deal, spanning over five years, is estimated to have a target spend of $2 billion. In a filing to the exchange, Infosys stated that the services included in the agreement encompass AI and automation-related development, modernization, and maintenance.

This move by Infosys comes as companies worldwide are increasingly investing in AI, particularly after the success of Microsoft-backed OpenAI's generative chatbot ChatGPT, which gained significant attention in late 2022. In response to this growing trend, rival Tata Consultancy Services recently revealed its plans to train 25,000 engineers for certification on Microsoft's Azure Open AI. Likewise, Wipro, another competitor, has committed to investing $1 billion in AI over the next three years.

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Infosys, headquartered in Bengaluru, had already made strides in the AI field when it launched its generative AI platform called Infosys Topaz in May. The company's dedication to advancing AI technologies aligns with the industry's expanding demand for innovative solutions.

While the client's identity remains undisclosed, this deal signifies a major achievement for Infosys and reinforces its position as a leading player in the software services sector. As the company prepares to release its first-quarter results on July 20