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Infosys (INFY) & Google Team Up to Leverage AI Capabilities
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Infosys Limited (INFY - Free Report) and Alphabet’s (GOOGL - Free Report) Google have expanded their strategic partnership to help enterprises build artificial intelligence (AI)-powered solutions. The expanded alliance will bring together Google Cloud's generative AI solutions to Infosys Topaz — an AI-first set of services, solutions and platforms.
The integration will help the Bengaluru, India-based IT consulting and outsourcing company create offerings that customers can adopt and easily integrate generative AI into their businesses. Therefore, this collaboration will enable the customers to transition from digital to AI-based solutions.
Additionally, Infosys intends to set up new global Generative AI Labs to develop industry-specific AI solutions and platforms. These dedicated labs will help organizations infuse generative AI into their business processes.
As part of the expanded collaboration agreement, Infosys intends to train 20,000 practitioners on Google Cloud's gen AI solutions, such as Vertex AI and Duet AI in Google Workspace. Through this plan, the company wants to ensure enterprises have the professional service expertise and resources to develop, implement and manage any type of generative AI projects.
INFY has been ramping up its AI offerings as the success of OpenAI’s ChatGPT has demonstrated the AI technology’s potential to improve operations in almost every industry. The company's Topaz product suite helps amplify the potential of humans, enterprises and communities to tap the next generation of opportunities.
Infosys is strategically leveraging its AI capabilities at a time when cost efficiency and consolidation are the top priorities for its clients. The company has already undertaken more than 90 generative AI projects for clients, as reported during the second-quarter 2024 earnings conference.
Infosys’ AI segment is seeing some potential in Retail, Communication and Original Equipment Manufacturer clients, who are focusing on digital transformation, cost saving, operational optimization and automation.
In the last few months, Infosys has struck several billion-dollar deals for its AI-based solutions and services. In September 2023, the company secured a $1.5 billion deal with an undisclosed global company for 15 years, according to an exchange filing. Through this agreement, INFY will provide an array of upgraded digital experiences and operational services based on its platforms and AI solutions.
This marked the company’s second AI deal in September, with the first being a strategic and multi-year collaboration with STARK Group to drive its digital transformation based on Infosys' Topaz. In July 2023, INFY signed a $2 billion deal with an existing client, committing to deliver AI and automation services for five years.
Despite these AI achievements, Infosys is grappling with significant challenges, including a slowdown in digital transformation within the financial and related sectors. Furthermore, the company has been encountering slow decision-making processes, softness in digital transformation programs and discretionary spending in the current uncertain macroeconomic environment, which is hurting volumes.
Zacks Rank & Stocks to Consider
Currently, Infosys and Alphabet each carry a Zacks Rank #3 (Hold). Shares of INFY have plunged 4.9%, while GOOGL has rallied 56.3% year to date (YTD).
The Zacks Consensus Estimate for Palo Alto Networks' first-quarter fiscal 2024 earnings has been revised upward by 6 cents to $1.16 per share in the past 60 days. For fiscal 2024, earnings estimates have increased by 39 cents to $5.34 per share in the past 60 days.
Palo Alto Networks’ earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 22.2%. Shares of PANW have surged 87.3% YTD.
The Zacks Consensus Estimate for Twilio's third-quarter 2023 earnings has been revised upward by a penny to 35 cents per share in the past 60 days. For 2023, earnings estimates have increased by 3 cents to $1.70 per share in the past 60 days.
Twilio’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 149.1%. Shares of TWLO have risen 14.4% YTD.
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Infosys (INFY) & Google Team Up to Leverage AI Capabilities
Infosys Limited (INFY - Free Report) and Alphabet’s (GOOGL - Free Report) Google have expanded their strategic partnership to help enterprises build artificial intelligence (AI)-powered solutions. The expanded alliance will bring together Google Cloud's generative AI solutions to Infosys Topaz — an AI-first set of services, solutions and platforms.
The integration will help the Bengaluru, India-based IT consulting and outsourcing company create offerings that customers can adopt and easily integrate generative AI into their businesses. Therefore, this collaboration will enable the customers to transition from digital to AI-based solutions.
Additionally, Infosys intends to set up new global Generative AI Labs to develop industry-specific AI solutions and platforms. These dedicated labs will help organizations infuse generative AI into their business processes.
As part of the expanded collaboration agreement, Infosys intends to train 20,000 practitioners on Google Cloud's gen AI solutions, such as Vertex AI and Duet AI in Google Workspace. Through this plan, the company wants to ensure enterprises have the professional service expertise and resources to develop, implement and manage any type of generative AI projects.
Infosys Limited Price and Consensus
Infosys Limited price-consensus-chart | Infosys Limited Quote
Tapping AI Opportunities for Growth
INFY has been ramping up its AI offerings as the success of OpenAI’s ChatGPT has demonstrated the AI technology’s potential to improve operations in almost every industry. The company's Topaz product suite helps amplify the potential of humans, enterprises and communities to tap the next generation of opportunities.
Infosys is strategically leveraging its AI capabilities at a time when cost efficiency and consolidation are the top priorities for its clients. The company has already undertaken more than 90 generative AI projects for clients, as reported during the second-quarter 2024 earnings conference.
Infosys’ AI segment is seeing some potential in Retail, Communication and Original Equipment Manufacturer clients, who are focusing on digital transformation, cost saving, operational optimization and automation.
In the last few months, Infosys has struck several billion-dollar deals for its AI-based solutions and services. In September 2023, the company secured a $1.5 billion deal with an undisclosed global company for 15 years, according to an exchange filing. Through this agreement, INFY will provide an array of upgraded digital experiences and operational services based on its platforms and AI solutions.
This marked the company’s second AI deal in September, with the first being a strategic and multi-year collaboration with STARK Group to drive its digital transformation based on Infosys' Topaz. In July 2023, INFY signed a $2 billion deal with an existing client, committing to deliver AI and automation services for five years.
Despite these AI achievements, Infosys is grappling with significant challenges, including a slowdown in digital transformation within the financial and related sectors. Furthermore, the company has been encountering slow decision-making processes, softness in digital transformation programs and discretionary spending in the current uncertain macroeconomic environment, which is hurting volumes.
Zacks Rank & Stocks to Consider
Currently, Infosys and Alphabet each carry a Zacks Rank #3 (Hold). Shares of INFY have plunged 4.9%, while GOOGL has rallied 56.3% year to date (YTD).
Some better-ranked stocks from the broader technology sector are Palo Alto Networks (PANW - Free Report) and Twilio (TWLO - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Palo Alto Networks' first-quarter fiscal 2024 earnings has been revised upward by 6 cents to $1.16 per share in the past 60 days. For fiscal 2024, earnings estimates have increased by 39 cents to $5.34 per share in the past 60 days.
Palo Alto Networks’ earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 22.2%. Shares of PANW have surged 87.3% YTD.
The Zacks Consensus Estimate for Twilio's third-quarter 2023 earnings has been revised upward by a penny to 35 cents per share in the past 60 days. For 2023, earnings estimates have increased by 3 cents to $1.70 per share in the past 60 days.
Twilio’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 149.1%. Shares of TWLO have risen 14.4% YTD.