Infosys Ltd ADR (NYSE:INFY) announced that they are debuting Infosys Nia which is a next generation Artificial Intelligence Platform.
Infosys made the announcement as they build on their success in Infosys Mana, first generation Artificial Intelligence platform and AssistEdge, a Robotic Process Automation (RPA) solution. The two products have managed to amass more that 50 clients and over 150 engagements across industry sectors in just one year of operation.
Infosys Nia brings together the big analytics/data, knowledge management, machine learning as well as cognitive automation abilities of Mana which is an end to end RPA capabilities of AssistEdge, high performance, advanced as well as scalable machine learning capabilities of Skytree, optical character recognition (OCR), infrastructure management services, natural language processing (NLP).
It is also flexible, unified and a modular platform. It allows for a wide range of industry as well as function specific solutions and also enables clients to build custom experiences that fit their business requirements.
The Infosys first generation AI site was generally about simplification, IT, cost and efficiency. Capabilities of the platform include deep analytics, socialization of organizational knowledge, automated incident root cause analysis and more.
How it may impact the market
Infosys Nia will aim to handle breakthrough business issues including forecasting revenues and what products need to be built, understanding the content of contracts and legal documents as well as customer’s behavior and understanding compliance and fraud.
It will also assist clients in solving a wide range of business problems including improving order to cash process through creating a real time profile in order to customize collection strategy, anomalies prediction, expedite resolutions of disputes and forecasting cash flow.
Infosys Nia is able to predict variability in the manufacturing and the material cost while also reducing product development cycle times. It can also develop knowledge templates of multiple and complete labor contracts with self service conversational and on demand interface in operationalizing the knowledge.
Tom Reuner the senior vice president in Hfs Research said, “By leveraging and integrating a broad set of artificial intelligence technologies, Infosys is supporting customers on their journey toward business transformation.”
Infosys closed a $14.50 after a fall $0.04 or 0.28%.