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Infosys, India's second-largest software services exporter, has announced to the exchange that it has signed a new deal with an anonymous existing customer to provide AI and automation services for five years. He has an estimated spending target of $2 billion for this partnership. The announcement sent the company's shares up 3.6% on the Bombay Stock Exchange (BSE).

“Infosys has signed a framework agreement with one of its existing strategic customers to provide development, modernization, and maintenance services focused on AI and automation. , said it "estimated total customer spending at $2 billion over five years." The news comes three days before Infosys is scheduled to report its June quarter (Q1 2024) results on July 20.

According to the company's IPO, the deal covers the advancement, modernization, and maintenance of AI and automation-related services. In particular, the IT giant recently announced its comprehensive and free AI certification training initiative through Infosys Springboard. The program aims to equip individuals with the skills they need to succeed in the work environment of the future.

Infosys' AI push highlights the growing trend of Indian IT companies to increase their investment in AI. Tech Mahindra was already working on generative AI long before OpenAI's ChatGPT was announced. Notably, IT giant CEO CP Gurnani praised his Storicool platform, an automated content creation tool that has proven to be ahead of its time.