In their Q4 FY23 earnings call last week, Indian IT services giants Tata Consultancy Services (TCS) and Infosys announced significant plans to monetize generative AI capabilities. This is related to the increasing popularity of OpenAI's ChatGPT chatbot.
On Thursday, during the Q4 FY23 earnings call, Infosys CEO and MD Salil Parekh said, “We anticipate generative AI to provide more opportunities for work with our clients, and to enable us to improve our productivity.”
Parekh added that Infosys is presently engaged in a number of initiatives that make use of their AI skills.
“We are leveraging generative AI capabilities for our clients and within the company. We have active projects with clients working with generative AI platforms to address specific areas within their business,” Parekh said.
“We have trained open source generative AI platforms on our internal software development libraries,” Parekh noted.
Can ChatGPT, NotionAI, Midjourney, and other AI technologies developed by Indian IT services companies compete with these systems? Experts and the management of the corporation agree the answer is probably not.
To start, experts think Indian IT may have joined the AI party a little too late and would be better off expanding on existing AI systems than creating it from scratch.
Kotak Institutional Equities noted in one of its reports, "With foundation models that reduce the cost and effort in building AI systems from scratch, enterprises can focus more on building with AI instead of building AI."
The company management made a point of emphasising that the tools they would create would likely be specialised to their clients' demands.
