Infosys wants to double down on data and analytics as the industry adapts to the changing ways of decision-making based on enterprise data
By Srinath Srinivasan
With rapid digital transformation accelerated by the Covid-19 pandemic, enterprises have adopted a number of software products and services. Data and AI are at the epicentre of this transformation. According to Infosys, the needs and targets set by their clients have also been given a new direction due to the advancements in data analytics.
“Retail and consumer packaged goods (CPG) enterprises are now tracking additional key performance indicators (KPI) around real-time demand sensing, resilient supply chain, omnichannel experience, revenue growth and customer traffic across channels, customer visit conversion, customer hyper personalisation among many others,” says Satish HC, EVP, Head Global Services, Data and Analytics, Infosys. “We are witnessing accelerated adoption of data, AI, analytics and cloud capabilities for modernisation, transformation, and unleashing new efficiencies. Today 50% of our analytics business is being powered by AI models and solutions,” he adds.
At the core of analytics is handling and making sense of data that comes from various sources. Infosys has been working in various business verticals to streamline the flow of data in order to get new insights. “It is no longer about bringing all the data to one place centrally, generating insights to make future decisions. As enterprises become more sentient, data will remain where it is, and it will be harvested to drive intelligence in real-time to increase the velocity of decision making,” says Satish.
According to him, Infosys modernised the entire data landscape of a leading financial services client, by moving thousands of applications and petabytes of data from on-premise to cloud by co-creating cloud data platform supporting multi-cloud and hybrid platforms.
Satish talks about a CPG major which has helped form a community of food enthusiasts and recipe contributors, out of over 250 million visitors to the CPG major’s site, turning them into advocates of over 200 brands under its banner. Infosys is also enthusiastic about the impending 5G revolution. 5G is expected to transform supply chain visibility, automation at shop floor, remote healthcare, smart cities and many more areas while increasing the productivity of the workforce from anywhere and creating immense potential for revenue generation in partnership with the industry ecosystem.
“Data will be at core of this evolution as massive amounts of unstructured data will be generated by various devices across ecosystems and need to be analysed and acted on in real-time to reap benefits,” says Satish. “For a telecom client, we are developing video analytics and solutions leveraging 5G, some of which we have showcased in industry events.”
At the core of innovations is AI, which helps in scaling up analytics as the volume of data increases. According to Satish, Infosys’ AI capabilities target upto 60% cost takeout in business operations, through self-corrected data harmonisation, process optimisation through bionic humans, process elimination through autonomous decision making and human displacement with cognitive applications. “For instance, a leading utility company wanted to detect gas leaks across its 5.9 million facilities.
Gas leaks are rare events occurring approximately at a frequency of 1 in 500,000 and anomalies are difficult to detect. We used AI with over 60 analytical models and provided over 95% precision in identifying gas leaks. The time required to identify leaks reduced by over 60%. This kind of speed and accuracy is enabled only by the power of AI,” says Satish.