Increasing commoditisation of services a 'challenge': Infosys CEO
Bengaluru [Karnataka] [India], Apr. 13 (ANI): Highlighting an increase in commoditisation of services, Infosys Ltd's CEO Vishal Sikka on Thursday stated that the newly-developed trend is a challenge for the industry and stressed on the importance of tapping the potential of Artificial Intelligence (AI) and facilitating greater utilisation of the same.
ANI
Apr 13, 2017 18:25 IST
Bengaluru [Karnataka] [India], Apr. 13 (ANI): Highlighting an increase in commoditisation of services, Infosys Ltd's CEO Vishal Sikka on Thursday stated that the newly-developed trend is a challenge for the industry and stressed on the importance of tapping the potential of Artificial Intelligence (AI) and facilitating greater utilisation of the same. Addressing the media post the announcement of the company's Q4 results, Sikka said: "AI is the future. We have to bring automation and AI in everything we do." The company's Q4 results witnessed an increase of two percent in the revenue per employee, with numbers crossing USD 100,000 per employee, thus keeping the cash flow generation intact. "About 65 percent of our workforce produces 55 percent of our revenue. Hence, the imperative is clear," added Sikka. Revenue in the financial year 2017 stood at USD 10,208 million. Further, in estimation as per the Indian rupee, a revenue growth of 9.7 percent was observed, with an 8.3 percent growth in constant currency. However, quarter-on-quarter results witnessed a decline of 0.9 percent, with revenue of Rs. 17,120. Looking ahead at the financial year 2018, the company is expecting revenue growth to be between 6.5 and 8.5 percent in constant currency. "Unanticipated execution challenges and distractions in a seasonally soft quarter affected our overall performance. At the same time, we continued to see many positive signs of our strategy execution; our software- led offerings continued to show strong momentum and client success, with continued adoption of Mana, our AI platform," said Sikka. "Looking ahead, it is imperative that we increase our resilience to the dynamics of our environment and we remain resolute in executing our strategy, our path to transform Infosys, and to drive long term value for all stakeholders," he added. (ANI)
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