Software services giant Infosys on Tuesday announced the launch of Topaz — an AI-first suite of services, solutions and platforms leveraging generative artificial intelligence (AI) technologies.
Topaz leverages Infosys’ applied AI framework to build an AI-first core that includes 12,000+ AI use cases, 150+ pre-trained AI models, and 10+ AI platforms, according to a press release from the IT company.
“We see a strong interest from our customers in programs to increase efficiency and productivity, even as companies are interested in securing their future growth. Our own business operations have benefited tremendously from Infosys Topaz bringing the power of generative AI platforms and data solutions to the table,” said Salil Parekh, Chief Executive Officer and Managing Director of Infosys.
Topaz helps “amplify the potential of people, businesses and communities to embrace next-generation opportunities and create value through unprecedented innovation, connected ecosystems and pervasive efficiencies,” says the IT major.
According to the Bengaluru-based company, Topaz brings together the power of Infosys Cobalt cloud and data analytics to power AI businesses, delivering solutions and “intuitive experiences that drive growth.”
The development comes a month after Infosys signed a memorandum of understanding with Saudi Arabian company Aramco to accelerate its human resources technology. Infosys and Aramco want to gain new insights into HR data and analytics, scale the use of automation tools, and improve employee experiences through AI technologies.
Infosys, which reported its fourth-quarter results on April 13, reported a 7.8% year-over-year increase in consolidated net income for the January-March quarter to ₹6,128 crore. Operating revenue increased 16% to ₹37,441 crore for the fourth quarter of fiscal 2023, compared to ₹32,276 crore for the corresponding quarter last fiscal year. Sales at constant currencies increased 8.8% year-on-year and decreased 3.2% quarter-on-quarter.
Infosys has provided FY24 revenue guidance of 4-7% YoY at constant currencies. It provided a margin guidance of 20-22%, below consensus expectations of 21-23% for FY24.
The IT company’s operating profit was ₹7,877 crore, up 13.2% compared to ₹6,956 crore in the same quarter last year. Operating margin fell 50 basis points to 21% in the fourth quarter.
Infosys’ digital revenue was 62.9% of total revenue, up 15% year over year.
For FY23, Infosys’ board of directors recommended a final dividend of ₹17.50 per share. Together with the interim dividend of ₹16.50 per share already paid, the total dividend per share for FY23 is ₹34, an increase of 9.7% over FY22. With that, the company announced a total dividend of approximately ₹14,200 crore for FY23.
Infosys’ turnover rate continued to decline to 20.9% in the fourth quarter, compared to 24.3% in the December quarter. The Company’s headcount at the end of the fourth quarter was 3,43,234 compared to 3,46,845 in December.
