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

Rhea-AI Summary

Infosys and ServiceNow have announced a strengthened collaboration to transform customer experiences with generative AI-powered industry solutions. The partnership aims to increase productivity, enhance efficiency, and improve user experience by combining ServiceNow's Now Assist generative AI capabilities and Infosys Cobalt cloud offerings. Infosys will double its investment in training by certifying more than 3,500 employees with ServiceNow GenAI skills.

Positive

• Strengthened collaboration between Infosys and ServiceNow to transform customer experiences with generative AI-powered industry solutions

• Aim to increase productivity, enhance efficiency, and improve user experience for organizations

• Partnership combines ServiceNow's Now Assist generative AI capabilities and Infosys Cobalt cloud offerings

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

• Development of new industry applications into the Infosys Enterprise Service Management (ESM) Café to accelerate time to value

• Investment in a Pro Plus BOT factory to offer more than 100,000 Now Assist-powered chatbots for customers

• Collaboration to address critical business process challenges across telecom, financial services, manufacturing, and retail

Negative

• None.

Insights

Tech Industry Analyst

The announcement by Infosys and ServiceNow marks a significant evolution in their strategic partnership, notably the integration of generative AI into customer service solutions. From a technical standpoint, combining ServiceNow's AI capabilities with Infosys' industry expertise and Cobalt cloud platform could potentially offer businesses a robust toolset for digital transformation. The commitment to training over 3,500 employees signifies a focus on adapting to the rapidly advancing AI landscape. This kind of workforce upskilling can be an indicator of a long-term strategy aimed at maintaining a competitive edge in the market. Enterprises stand to gain significant operational efficiencies, which, in turn, could reflect positively on the financial performance of both Infosys and ServiceNow. ServiceNow's expansion of AI solutions, particularly in generating operational efficiencies and implementation speed, resonates with current enterprise IT demands for agility and innovation.

Financial Analyst

From a financial perspective, the strategic collaboration between Infosys and ServiceNow has multiple potential implications for investors. The projected improvements in operational efficiency and response times may lead to cost savings and higher margins for client companies, which could translate into increased demand for the services provided by Infosys and ServiceNow. The training investment is not only a workforce enhancement but also a capital reallocation that signals strong belief in the ROI from AI skill development. These newly developed industry applications could attract new customers and increase customer retention, ultimately leading to a potential increase in revenue streams. While it is premature to speculate on the precise financial impact, the projections of up to 20% improvement in operational efficiency and 30% reduction in implementation timelines are significant figures that suggest a positive financial outlook if these solutions are adopted at scale.

AI Technology Expert

The focus on generative AI by Infosys and ServiceNow is indicative of a trend in enterprise technology solutions that prioritize not only automation but also the generation of new and optimized processes and user experiences. This approach can lead to more dynamic and adaptable technology ecosystems within organizations. Importantly, the collaboration focuses on addressing common challenges such as user experience and isolated processes, which are critical pain points for many enterprises. The development of the Pro Plus BOT factory, which aims to offer over 100,000 Now Assist-powered chatbots, points to a future where AI is not just a add-on but an integral part of business operations. Moreover, the emphasis on personalized experiences through AI could drive further innovations in the way businesses interact with their customers and manage internal processes.

Infosys Cobalt cloud offerings and ServiceNow Now Assist AI to help enterprises increase productivity, enhance efficiency, and improve user experiences

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--(BUSINESS WIRE)-- Knowledge 2024 — Infosys (NSE, BSE, 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 partnerships 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 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 at 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% improvement in operational efficiency, 5-time faster increase in response time, and 30% 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240507947316/en/

Infosys:

PR_Global@Infosys.com

ServiceNow:

Lindsay Capurro

503-551-2655

press@servicenow.com

Source: ServiceNow, Inc.