LAS VEGAS - Infosys (NYSE: NS:INFY) and ServiceNow (NYSE: NYSE:NOW) have announced an enhanced partnership to deliver AI-driven solutions aimed at improving customer experiences, productivity, and efficiency for enterprises. This announcement was made at the Knowledge 2024 event, ServiceNow's annual customer and partner conference.
The collaboration combines ServiceNow's Now Assist generative AI capabilities with Infosys Cobalt's cloud services to create industry-specific applications that address business challenges across various sectors, including telecom, financial services, manufacturing, and retail. These solutions are designed to automate tasks, personalize experiences, and provide new levels of innovation and efficiency.
As part of this alliance, Infosys plans to double its investment in training, certifying over 3,500 employees in ServiceNow GenAI skills. This initiative underscores the importance of equipping the workforce with the necessary tools to leverage generative AI effectively.
The partnership has already yielded results for customers such as Carrier, addressing issues like poor user experience and underutilized AI platform capabilities. The new offerings are expected to deliver up to a 20 percent improvement in operational efficiency, a five-fold increase in response time, and a 30 percent reduction in implementation timelines.
Infosys and ServiceNow's decade-long collaboration has led to significant investments in research and development, infrastructure, and talent development, which have enhanced product capabilities and expanded market reach.
The press release also contains forward-looking statements regarding the future benefits and product capabilities resulting from this collaboration. However, it cautions that these statements are subject to risks, uncertainties, and potentially inaccurate assumptions that could cause actual results to differ materially from expected outcomes.
This news is based on a press release statement and reflects the ongoing commitment of Infosys and ServiceNow to leverage generative AI in transforming enterprise operations.
InvestingPro Insights
As Infosys (NYSE: INFY) makes strides in its partnership with ServiceNow (NYSE: NOW), InvestingPro data highlights several financial metrics that may interest investors. Infosys, a global leader in next-generation digital services and consulting, has a market capitalization of 71.6 billion USD. The company's P/E ratio stands at 22.56, reflecting investor sentiment about its earnings capacity. Furthermore, Infosys maintains a dividend yield of 1.7%, showcasing its commitment to returning value to shareholders.
Two InvestingPro Tips provide additional context for investors evaluating Infosys's performance and prospects. Firstly, Infosys has a track record of raising its dividend for 3 consecutive years, indicating a stable and shareholder-friendly policy. Secondly, the company is trading at a high P/E ratio relative to near-term earnings growth, which suggests that the market may have high expectations for its future earnings potential.
For those seeking deeper insights, InvestingPro offers more tips that could help investors make informed decisions. There are 12 additional InvestingPro Tips available for Infosys, including insights on analysts' earnings revisions, stock volatility, and the company's position within the IT Services industry. Interested readers can find these valuable tips on InvestingPro's dedicated page for Infosys at https://www.investing.com/pro/INFY.
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