Infosys CEO Salil Parekh noted that generative AI is generating significant interest from clients, and there is a substantial mobilization of GenAI within the company. However, he emphasized that layoffs due to new-age technologies are not anticipated. Regarding the USD 3.9 billion GST tax demand, Parekh mentioned that Infosys has already provided updates and disclosures in the market and has no new information to add.
There isn’t a fresh update. When asked if the company would be making plans for the same, he responded, “The status is what it was in terms of what we provided externally a few days ago.
Salil Parekh stated that generative AI is being well received by clients and compared it to the adoption curve of digital and cloud technologies in the past. He believes that as businesses realize the advantages and business consequences of generative AI, adoption of this technology will rise over time.
“So we think this will accelerate as time goes on, but we’ll wait and see how it develops,” he stated. It’s similar to how we started with digital or cloud a few years ago. These technologies begin in a particular way, and we observe the benefits clients receive. If the benefits are significant, we expect to see increased adoption.”
Salil Parekh stated that he does not anticipate any layoffs at the company due to the introduction of GenAI. He stated, “So, right now, I feel like technology will do more to help businesses grow than anything else.” We don’t foresee layoffs at Infosys because of these new technologies. On the contrary, we are increasing our recruitment as the economic landscape evolves. As demonstrated in Q1, we experienced strong growth both quarter-on-quarter and year-on-year, with a significant number of large deal wins. Consequently, we have raised our guidance and are seeing growth gradually returning.”
