Mumbai, August 25: The technology industry has seen many rounds of layoffs this year at big names in the markets like Intel, Dell, Microsoft, Meta, Google, Tesla, Paytm, BYJU and others. While some IT companies Betting Companies like Infosys guarantee that there will be no layoffs due to artificial intelligence, as artificial intelligence is expected to replace human jobs and reduce operating costs to increase profit margins.
Salil Parekh, CEO of Infosys, said that generative AI has a strong Customer base on the international market And so is the gigantic Mobilization within his company, according to a report from Money control. The CEO said The There might be no layoffs at Infosys anytime will soon be possible due to the introduction of these new technologies. When asked, Salil Parekh said that his clients were embracing genAI and compared it to the industry adopting digital and cloud technologies. “Prove you deserve it”: Elon Musk asks X employees to submit a one-page summary of their contribution to the company to receive stock options.
He added that the use of generative artificial intelligence will increase as companies leverage the benefits and business outcomes of the technology. Salil Parekh, CEO of Infosys, said: “…we will wait and watch how it evolves.” If The advantages are considerable, then acceptance would also increasehe emphasized.
Infosys previously stressed that it had trained more than 2.5 lakh employees in generative AI for its ongoing project for its clients. The Indian IT group said that the The team worked on 225 GenAI programs. Given these ongoing developments and the demand for generative artificial intelligence technology, the CEO Salil Parekh said he does not expect any layoffs.
Parekh said technology has enabled them to address new areas such as fine-tuning of the credit card analysis which offered banks the opportunity to expand their product range together with receiving Benefits such as revenue and productivity. The CEO of Infosys emphasized To the importance of genAI for growth and said, “We are not seeing any layoffs at Infosys due to these new technologies.” On the contrary, the company has started hiring more employees in light of the changes in the economic environment. Amazon employee claims to have earned nearly 3 crore Indian rupees despite doing ‘absolutely nothing’ as a technical program manager.
The Indian GenAI market is projected will grow by 24.4% CAGR (compound annual growth rate) from 2023 to 2030, as mentioned in the Deloitte report. In addition, will be noted that India could become a global leader in AI innovation, leading to sustainable development through GenAI.
(The above story first appeared on LatestLY on August 25, 2024 07:03 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com.)
