Infosys and ServiceNow Strengthen Strategic Collaboration to Transform Customer Experiences with Generative AI-powered Industry Solutions

Rhea-AI Summary

Infosys and ServiceNow announced a strengthened collaboration to transform customer experiences with generative AI-powered solutions at ServiceNow's Knowledge 2024 event. The partnership aims to enhance productivity, efficiency, and user experience by combining ServiceNow's Now Assist generative AI capabilities with Infosys Cobalt cloud offerings. Infosys will double its training investment by certifying more than 3,500 employees with ServiceNow GenAI skills. The collaboration will focus on developing industry applications, offering chatbots, and addressing critical business process challenges across various sectors.

Positive

• Collaboration aims to increase productivity, enhance efficiency, and improve user experience for organizations.

• Infosys to double training investment, certifying more than 3,500 employees with ServiceNow GenAI skills.

• New offerings will deliver up to 20% improvement in operational efficiency, 5-time faster response time increase, and 30% reduction in implementation timelines.

• Collaboration will address critical business process challenges for enterprises across telecom, financial services, manufacturing, and retail.

Negative

• No specific negative aspects reported in the press release.

Insights

Tech Industry Analyst

The strategic collaboration between Infosys and ServiceNow centers around the integration of generative AI capabilities into enterprise solutions, aiming to bolster productivity and efficiency among customers. From a technological viewpoint, the ability to leverage generative AI speaks to a broader trend in the industry where businesses are looking to harness artificial intelligence to streamline operations and create more personalized user experiences. Incorporating Infosys' cloud expertise and ServiceNow's AI platform could potentially lead to a more seamless enterprise management system. This partnership may enhance the competencies of Infosys Cobalt and the Now Assist platform in addressing the operational needs of clients. For investors, partnerships that drive innovation can be indicative of a company's agility and future growth potential. However, it's critical to monitor the actual deployment and client adoption to gauge the true market impact.

Market Research Analyst

The decision by Infosys to double its training investment and certify over 3,500 employees in ServiceNow GenAI skills is strategic for scaling its ability to meet the evolving demands of digital transformation. This move not only enhances employee expertise but also signals to the market a commitment to staying at the forefront of tech innovation. For the market segments mentioned—telecom, financial services, manufacturing and retail—the promise of up to 20% improvement in operational efficiency, 30% reduction in implementation timelines and a 5-time faster response rate are quantifiable benefits that can translate into competitive advantage and, potentially, increased market share. For investors, these operational metrics are often used as proxies to predict revenue growth and margin expansion, making these developments noteworthy.

Financial Analyst

When ServiceNow and Infosys, both significant players in their respective domains, engage in a collaboration of this nature, it has the potential to influence financial performance through the development of new revenue streams. The mention of direct customer benefits like efficiency gains and faster response times is promising. However, the financial implications will depend on the rate of adoption by enterprises and the scalability of these solutions. It is pivotal for investors to consider the cost of doubling training investments against the expected increase in service capabilities and customer value creation. The reported operational improvements for customers such as Carrier are strong selling points, but the actual financial impact on Infosys and ServiceNow will be determined by the market's response over the coming quarters.

• Infosys Cobalt cloud offerings and ServiceNow Now Assist to help enterprises increase productivity, enhance efficiency, and improve user experience
• The collaboration is currently enabling customers such as Carrier to address key business problems
• Infosys to double training investment, certifying more than 3,500 employees with ServiceNow GenAI skills

LAS VEGAS, May 7, 2024 /PRNewswire/ -- Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, and ServiceNow (NYSE: NOW), the AI platform for business transformation, today announced a strengthened collaboration to transform customer experiences with generative AI-powered industry solutions, at ServiceNow's annual customer and partner event Knowledge 2024. The collaboration aims to increase productivity, enhance efficiency, and improve user experience for organizations by combining ServiceNow's Now Assist generative AI capabilities and Infosys Cobalt, a set of services, solutions, and platforms designed to accelerate cloud-powered enterprise transformation. As part of this broader AI-first, industry-first strategy, Infosys will also double its investment in training by certifying more than 3,500 employees with ServiceNow GenAI skills.

"The combination of ServiceNow GenAI capabilities with Infosys' industry expertise is a prime example of how our partners are integral to driving digital transformation forward for more organizations," said Erica Volini, Senior Vice President, Global Partners and Channels at ServiceNow. "Our longstanding collaboration with Infosys demonstrates the potential for our ecosystem to yield real, impactful results for customers. We are helping shape the future of GenAI's impact on enterprise productivity, with skills training for being a key success factor in ensuring our workforces are futureproofed for GenAI."

"Infosys and ServiceNow are deeply committed to delivering exceptional customer experience for our clients. This collaboration further strengthens our relationship by bringing together ServiceNow's Now Assist GenAI solutions with Infosys Cobalt, in addition to our expertise in digital transformation and generative AI capabilities," said Anant Adya, Executive Vice President and Service Offering Head, Infosys. "Together, we have developed next-generation industry solutions that address tough challenges across sectors. These solutions leverage generative AI to automate tasks, personalize experiences, and unlock new levels of efficiency and innovation for our clients."

In collaboration with ServiceNow, Infosys will develop new industry applications into the Infosys Enterprise Service Management (ESM) Café, the AI-powered plug-and-play solution which is already helping ServiceNow customers accelerate time to value. Infosys is also investing in the creation of a Pro Plus BOT factory, which can offer more than 100,000 Now Assist-powered chatbots so customers can realize value in their AI journey.

Through this expanded collaboration, ServiceNow and Infosys will address critical business process challenges for enterprises across telecom, financial services, manufacturing, and retail. The new offerings will aim to deliver significant benefits to customers, including up to 20 percent improvement in operational efficiency, 5-time faster increase in response time, and 30 percent reduction in implementation timelines. At the same time, the applications will deliver insights on large transformation engagements using GenAI. The collaboration is currently enabling customers such as Carrier, a world leader in high-technology heating, air-conditioning, and refrigeration solutions, to address key business problems, including poor user experience, underutilized AI-based platform capabilities, and isolated processes.

Through more than 10 years of collaboration, Infosys and ServiceNow have made substantial investments in R&D, infrastructure, and talent development resulting in improved product capabilities and market expansion.

About ServiceNow

ServiceNow (NYSE: NOW) is putting AI to work for people. We move with the pace of innovation to help customers transform organizations across every industry while upholding a trustworthy, human centered approach to deploying our products and services at scale. Our AI platform for business transformation connects people, processes, data, and devices to increase productivity and maximize business outcomes. For more information, visit: www.servicenow.com.

This press release contains "forward looking statements" about the expectations, beliefs, plans, and intentions relating to ServiceNow's collaboration with Infosys to build generative AI solutions. Such statements include statements regarding future product capabilities and offerings and expected benefits to ServiceNow. Forward looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, ServiceNow's results could differ materially from the results expressed or implied by the forward-looking statements made. ServiceNow undertakes no obligation, and does not intend, to update the forward-looking statements. Factors that may cause actual results to differ materially from those in any forward-looking statements include: (i) delays and unexpected difficulties and expenses in executing the product capabilities and offerings, (ii) changes in the regulatory landscape related to AI and (iii) uncertainty as to whether sales will justify the investments in the product capabilities and offerings. Further information on factors that could affect ServiceNow's financial and other results is included in the filings ServiceNow makes with the Securities and Exchange Commission from time to time. 

© 2024 ServiceNow, Inc. All rights reserved. ServiceNow, the ServiceNow logo, Now, and other ServiceNow marks are trademarks and/or registered trademarks of ServiceNow, Inc. in the United States and/or other countries. Other company names, product names, and logos may be trademarks of the respective companies with which they are associated. 

About Infosys

Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.

Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements in this release concerning our future growth prospects, or our future financial or operating performance, are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, our ability to attract and retain personnel, our transition to hybrid work model, economic uncertainties, technological innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, our corporate actions including acquisitions, and cybersecurity matters. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2023. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

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SOURCE Infosys

FAQ

What is the collaboration between Infosys and ServiceNow about?

The collaboration aims to transform customer experiences with generative AI-powered industry solutions to enhance productivity, efficiency, and user experience.

How many employees will Infosys certify with ServiceNow GenAI skills?

Infosys will certify more than 3,500 employees with ServiceNow GenAI skills.

What benefits are expected for customers from the collaboration?

Customers can expect up to 20% improvement in operational efficiency, 5-time faster response time increase, and 30% reduction in implementation timelines.

Which sectors will the collaboration focus on for addressing critical business process challenges?

The collaboration will focus on enterprises across telecom, financial services, manufacturing, and retail sectors.