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Infosys reported increase demand artificial intelligence engineers

Tinuku ~ Infosys Ltd made a net profit increase of Rs 3,483 crore, up 1.4 percent for the quarter ended June 2017 from Rs 3,436 crore in same period last year amid high labor costs and currency volatility. The business consulting firm, information technology and outsourcing services headquartered in Bengaluru also reported revenues of Rs 17,078 crore for Q1 or an increase of 1.8 percent from Rs 16,782 crore in the same period last year.

Tinuku Infosys reported increase demand artificial intelligence engineers

Infosys CEO Vishal Sikka announced on Friday the company's performance in the first quarter of fiscal 2018 that new IT service offerings such as artificial intelligence and cloud computing accounted for US$2 billion or a proportion of 50 percent of growth by companies in the past two years.

For the dollar balance, the company had revenues of US$2,651 million for Q1 or 3.2 percent growth over the last quarter and a year-on-year growth of 6 percent. Net income for the period was US$541 million or a quarterly decline of 0.4 percent and growth of 5.8 percent from a year ago.

"In the previous quarter, we have been talking about putting a strong focus on execution and I am very happy to see that we have been able to make it happen," Sikka said.

"The results are reflected in performance, we saw 3.2 percent revenue growth based on the report. We have a good margin performance of 24.1 percent despite a lot of pressure and I am very happy with that," Sikka said.

The company has revised its projected revenue growth by 6.5 percent to 8.5 percent in the current fiscal year. Sikka says AI technology and cloud computing have started to yield results and will be the engine of future growth for the company.

"For six quarters in a row we have grown our revenue per employee and it is now just a whisker below US$52,000 and utilities crossed 84 percent over 80.2 percent which is 80.2 percent which is The highest level in 15 years,'' Sikka said.

"Six new categories of services in the cloud, AI centric area. I am very proud to report this compared to two years ago when this service is not there, we have seen strong growth. For future, we will count on the growth of this service," said Sikka.

In the past two years about US$2 billion of revenue growth has arrived and half comes from this service. The new high growth service has contributed 8.3 percent to overall revenue and the new software has contributed 1.6 percent to revenue.

"It's about innovation, about the changing nature of labor, about changing the nature of business priorities today," Sikka said.

"The tariff for autonomous car engineers is a few million dollars. We decided to create a program to train engineers in automotive vehicle technology in Mysore.This is a mechanism to teach engineers that we are the technological spearhead," Sikka said.

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