- Better Together: Infosys research finds AI and data must join forces to 
deliver strategic value

-- According to new research from the Infosys Knowledge Institute, the thought 
leadership and research arm of Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), 
companies can generate over $460 billion in incremental profit if they do three 
things: improve data practices, trust in advanced AI, and integrate AI with 
business operations. However, despite high expectations for data and artificial 
intelligence (AI), most companies fail to act on these areas to convert data 
science to business value.

Infosys Data+AI Radar: Making AI Real found that although three of four 
companies want to operate AI across their firms, most businesses are new to AI 
and face daunting challenges to scale. 81% of respondents deployed their first 
true AI system in only the past four years, and 50%, in the last two.

The report also found that 63% of AI models function only at basic capability, 
are driven by humans, and often fall short on data verification, data 
practices, and data strategies. Only 26% of practitioners are highly satisfied 
with their data and AI tools. Despite the siren song of AI, something is 
clearly missing.

Infosys Knowledge Institute found that high-performing companies think 
differently about AI and data, and these leaders focus in three areas:

Transform data management to data sharing. Companies that embrace the 
data-sharing economy generate greater value from their data. Data increases in 
value when treated like currency and circulated through hub-and-spoke data 
management models ($105 billion incremental value). Companies that refresh data 
with low latency generate more profit, revenue, and subjective measures of 
value.
Move from data compliance to data trust. Companies highly satisfied with their 
AI (currently only 21%) have consistently trustworthy, ethical, and responsible 
data practices. These prerequisites tackle challenges of data verification and 
bias, build trust, and enable practitioners to use deep learning and other 
advanced algorithms.
Extend the AI team beyond data scientists. Businesses that apply data science 
to practical requirements create value. The report found that business—data 
scientist integration accelerates efficiencies and value extraction (additional 
$45 billion profit growth). For intelligent data, business and IT are much 
better together.

Combined, these areas not only scale AI usage but unlock its potential value – 
transforming AI dreams to insights and operational effectiveness and improving 
the human experience. Infosys research found the financial services industry 
recorded the strongest satisfaction with its data and AI uses, followed by 
retail and hospitality, healthcare, and high tech.

Satish H.C., EVP and Co-Head Delivery, Infosys, said, "Companies that build 
foundations to trust and share their data are more agile and scale their AI. 
Companies that don't trust their data risk a vicious cycle of "pilot purgatory" 
and only use data and AI to solve small problems. Data management combined with 
trust in AI are the dual solutions to increase business capability and 
financial rewards."

To learn more about the Infosys DATA+AI Radar 2022 and access the complete 
report, click here 
[https://www.infosys.com/services/applied-ai/insights/data-ai-radar-2022.html].

Explore the Infosys DATA+AI Radar experience here [https://dataairadar.com/].

Methodology

Infosys used an anonymous format to conduct an online survey of 2,500 senior 
technology leaders and executives across thirteen industries across the US, UK, 
France, Germany, Australia, and New Zealand. To gain additional qualitative 
insights, the researchers interviewed practitioners, subject matter experts, 
and business leaders.

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. With over four decades of 
experience in managing the systems and workings of global enterprises, we 
expertly steer clients, in more than 50 countries, as they navigate their 
digital transformation powered by the cloud. We enable them with an AI-powered 
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, 
financial expectations and plans for navigating the COVID-19 impact on our 
employees, clients and stakeholders 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 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 COVID-19 and the 
effects of government and other measures seeking to contain its spread, risks 
related to an economic downturn or recession in India, the United States and 
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our ability to manage growth, intense competition in IT services including 
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and cost overruns on fixed-price, fixed-time frame contracts, client 
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ability to manage our international operations, reduced demand for technology 
in our key focus areas, disruptions in telecommunication networks or system 
failures, our ability to successfully complete and integrate potential 
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the companies in which Infosys has made strategic investments, withdrawal or 
expiration of governmental fiscal incentives, political instability and 
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general economic conditions affecting our industry and the outcome of pending 
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Securities and Exchange Commission filings including our Annual Report on Form 
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For more information contact PR_Global@Infosys.com

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SOURCE: Infosys