PR98838

BANGALORE, India, November 16, 2022 /PRNewswire=KYODO JBN/--

- Better Together: Infosys research finds AI and data must join forces to

deliver strategic value

-- According to new research from the Infosys Knowledge Institute, the thought

leadership and research arm of Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY),

companies can generate over $460 billion in incremental profit if they do three

things: improve data practices, trust in advanced AI, and integrate AI with

business operations. However, despite high expectations for data and artificial

intelligence (AI), most companies fail to act on these areas to convert data

science to business value.

Infosys Data+AI Radar: Making AI Real found that although three of four

companies want to operate AI across their firms, most businesses are new to AI

and face daunting challenges to scale. 81% of respondents deployed their first

true AI system in only the past four years, and 50%, in the last two.

The report also found that 63% of AI models function only at basic capability,

are driven by humans, and often fall short on data verification, data

practices, and data strategies. Only 26% of practitioners are highly satisfied

with their data and AI tools. Despite the siren song of AI, something is

clearly missing.

Infosys Knowledge Institute found that high-performing companies think

differently about AI and data, and these leaders focus in three areas:

Transform data management to data sharing. Companies that embrace the

data-sharing economy generate greater value from their data. Data increases in

value when treated like currency and circulated through hub-and-spoke data

management models ($105 billion incremental value). Companies that refresh data

with low latency generate more profit, revenue, and subjective measures of

value.

Move from data compliance to data trust. Companies highly satisfied with their

AI (currently only 21%) have consistently trustworthy, ethical, and responsible

data practices. These prerequisites tackle challenges of data verification and

bias, build trust, and enable practitioners to use deep learning and other

advanced algorithms.

Extend the AI team beyond data scientists. Businesses that apply data science

to practical requirements create value. The report found that business—data

scientist integration accelerates efficiencies and value extraction (additional

$45 billion profit growth). For intelligent data, business and IT are much

better together.

Combined, these areas not only scale AI usage but unlock its potential value –

transforming AI dreams to insights and operational effectiveness and improving

the human experience. Infosys research found the financial services industry

recorded the strongest satisfaction with its data and AI uses, followed by

retail and hospitality, healthcare, and high tech.

Satish H.C., EVP and Co-Head Delivery, Infosys, said, "Companies that build

foundations to trust and share their data are more agile and scale their AI.

Companies that don't trust their data risk a vicious cycle of "pilot purgatory"

and only use data and AI to solve small problems. Data management combined with

trust in AI are the dual solutions to increase business capability and

financial rewards."

To learn more about the Infosys DATA+AI Radar 2022 and access the complete

report, click here

[https://www.infosys.com/services/applied-ai/insights/data-ai-radar-2022.html].

Explore the Infosys DATA+AI Radar experience here [https://dataairadar.com/].

Methodology

Infosys used an anonymous format to conduct an online survey of 2,500 senior

technology leaders and executives across thirteen industries across the US, UK,

France, Germany, Australia, and New Zealand. To gain additional qualitative

insights, the researchers interviewed practitioners, subject matter experts,

and business leaders.

About Infosys

Infosys is a global leader in next-generation digital services and consulting.

Over 300,000 of our people work to amplify human potential and create the next

opportunity for people, businesses and communities. With over four decades of

experience in managing the systems and workings of global enterprises, we

expertly steer clients, in more than 50 countries, as they navigate their

digital transformation powered by the cloud. We enable them with an AI-powered

core, empower the business with agile digital at scale and drive continuous

improvement with always-on learning through the transfer of digital skills,

expertise, and ideas from our innovation ecosystem. We are deeply committed to

being a well-governed, environmentally sustainable organization where diverse

talent thrives in an inclusive workplace.

Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your

enterprise navigate your next.

Safe Harbor

"Certain statements in this release concerning our future growth prospects,

financial expectations and plans for navigating the COVID-19 impact on our

employees, clients and stakeholders are forward-looking statements intended to

qualify for the 'safe harbor' under the Private Securities Litigation Reform

Act of 1995, which involve a number of risks and uncertainties that could cause

actual results to differ materially from those in such forward-looking

statements. The risks and uncertainties relating to these statements include,

but are not limited to, risks and uncertainties regarding COVID-19 and the

effects of government and other measures seeking to contain its spread, risks

related to an economic downturn or recession in India, the United States and

other countries around the world, changes in political, business, and economic

conditions, fluctuations in earnings, fluctuations in foreign exchange rates,

our ability to manage growth, intense competition in IT services including

those factors which may affect our cost advantage, wage increases in India and

the US, our ability to attract and retain highly skilled professionals, time

and cost overruns on fixed-price, fixed-time frame contracts, client

concentration, restrictions on immigration, industry segment concentration, our

ability to manage our international operations, reduced demand for technology

in our key focus areas, disruptions in telecommunication networks or system

failures, our ability to successfully complete and integrate potential

acquisitions, liability for damages on our service contracts, the success of

the companies in which Infosys has made strategic investments, withdrawal or

expiration of governmental fiscal incentives, political instability and

regional conflicts, legal restrictions on raising capital or acquiring

companies outside India, unauthorized use of our intellectual property and

general economic conditions affecting our industry and the outcome of pending

litigation and government investigation. Additional risks that could affect our

future operating results are more fully described in our United States

Securities and Exchange Commission filings including our Annual Report on Form

20-F for the fiscal year ended March 31, 2022. These filings are available at

www.sec.gov. Infosys may, from time to time, make additional written and oral

forward-looking statements, including statements contained in the Company's

filings with the Securities and Exchange Commission and our reports to

shareholders. The Company does not undertake to update any forward-looking

statements that may be made from time to time by or on behalf of the Company

unless it is required by law."

For more information contact PR_Global@Infosys.com

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SOURCE: Infosys