Infosys is betting big on automation and Artificial Intelligence, which, it expects, will transform the businesses of its clients, Chairman Nandan Nilekani said at the tech company’s 38th Annual General Meeting on Saturday. However, the use of automation and Artificial Intelligence is not just for the company’s clients but also for its employees. “We are relying on extreme automation to free up our people to focus more than ever on solving client challenges, mentoring their teams and investing in continuous learning,” Nandan Nilekani said. Speaking about the company’s efforts in strengthening digital capabilities, the company chairman said that Infosys has especially worked in the areas of experience, data, analytics, cloud, SaaS, IoT, cybersecurity, AI, and machine learning.
Infosys, founded by N R Narayana Murthy, along with Nandan Nilekani and others in 1981, witnessed revenue growth of 9% in constant currency terms in the last financial year, and its total revenue now stands at $11.8 billion. Infosys’ digital revenue also grew at 33.8% and now accounts for a third of the company’s total revenues. Addressing the shareholders, directors and employees, Infosys chairman said that the company has generated 36% total shareholder return for fiscal 2019. “The Board of Directors has recommended a final dividend of Rs 10.5 per share for fiscal 2019. Coupled with an interim dividend of Rs 7 per share paid in October 2018 and a special dividend of Rs 4 per share paid in January 2019, the total dividend paid last year was Rs 21.50 per share,” Nandan Nilekani said.
Infosys has also made global acquisitions of late which include Brilliant Basics, WongDoody, and Fluido. Nandan Nilekani said that these acquisitions are seeing strong traction with the clients. Infosys had also partnered with Temasek in Singapore and South-East Asia, and Hitachi, Panasonic and Pasona in Japan.
The second largest tech company in India, Infosys attracts a large number of software engineers every year. Infosys had revealed that it spends about Rs 14 lakh on the training of each student, after which it takes them 12 weeks to become productive, Ravi Kumar, President and Deputy COO, earlier told in a recent interview to CNBC TV18.