Kyndryl partners with Microsoft for GenAI solutions, and other stories
Here is your daily dose of key developments from the technology world of India.
Kyndryl partners with Microsoft for GenAI solutions adoption
Kyndryl, a technology infrastructure services provider, and Microsoft have announced a joint effort to enable the adoption of enterprise-grade generative AI (GenAI) solutions for businesses on the Microsoft Cloud.
Leveraging the partnership’s joint innovation centres, Kyndryl’s growing patent portfolio in data and AI and its access to Microsoft 365 Copilot, Azure Service, and Microsoft Fabric, the two companies will design, develop, and drive new GenAI innovations and solutions across their enterprises.
To further the advancement of new AI capabilities, is also committing to utilising the Kyndryl University for Microsoft to educate Kyndryl employees on new Microsoft AI technologies.
Further, Kyndryl is also launching an AI-readiness programme within Kyndryl Consult, dedicated to responsibly exploring the adoption of GenAI solutions. The partnership with Microsoft is Kyndryl’s first global strategic alliance upon becoming an independent public company.
Adoption of AI, ML by Indian enterprises rising, says PwC report
The advent of the COVID-19 pandemic has seen Indian enterprises adopting advanced analytics and data-driven decision-making.
As per the PwC report titled, Towards a smarter tomorrow: Impact of AI in the post-COVID era, the industrial products and manufacturing sector has seen the maximum adoption of AI/ML over the last two years.
Almost 64% of the organisations surveyed say they are at an early stage of their AI-based transformation journey, reflecting the opportunities for further investments and growth led by AI/ML solutions in this sector.
While there has been a significant increase in AI adoption with scalable impact in terms of returns, trends indicate that the travel and hospitality industry has reached a degree of saturation.
While technology, media, telecom, healthcare, and pharmaceutical sectors have seen steady progress, they are facing certain challenges around measuring the return on investments, especially in the pre and post-COVID-19 times.
Compared to other sectors, retail and consumer markets have seen a decline in AI adoption due to a gap in the identification of potential use cases amid changing market forces and consumer behaviour.
Happiest Minds reports a 3.5% rise in net profit
has reported a net profit of Rs 58.33 crore for the first quarter of FY24, recording a year-on-year (YoY) growth of 3.5%. It reported revenue of Rs 391 crore, which was 18.8% YoY growth. The gross profit margin for the quarter stood at 25.5%, lower than the 26.6% reported in the same period a year ago.
The company had 243 clients at the end of Q1FY24, and its headcount stood at 5,048. Happiest Minds Chairman Ashok Soota said, “We have set a goal of achieving $1 billion by 2031, and our guidance of 25% is based on the same. We remain on target to achieve the goal.”
Infosys unveils sonic identity of its brand
has unveiled its sonic brand identity, the auditory equivalent of its blue visual identity and logo.
According to the company, as a strategic brand asset, the signature Infosys tune will serve to reinforce the company’s core identity and brand purpose–‘to amplify human potential and create the next opportunity for people, businesses and communities'–when stakeholders interact with the brand.
The sonic identity will be integrated across Infosys’ many platforms used by employees and across brand assets, ranging from videos to events that the company’s clients and the broader community engage with.
Edited by Suman Singh
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