New formula of growth for Infosys: Renew+New
Idea behind it was to create a software and automation-led revolution
By : s. raghotham
Update: 2014-10-11 04:02 GMT
Bengaluru: Infosys CEO Vishal Sikka on Friday articulated the new strategy for the company to return to industry leadership and growth rates, saying that the central idea behind it was to create a “software and automation-led revolution in human productivity”, both at Infosys and for its customers.
“The world around us is being reshaped by software in fundamental and profound ways. That pervasive digital transformation presents a great opportunity for every company to transform itself. The simple framework that I have used to articulate this strategy is: software-led transformation of every company, including Infosys,” Dr. Sikka said.
Preferring not to reference his strategy with the company’s earlier ‘Infosys 3.0’ vision, which many saw as being at the root of its troubles since 2011, Dr. Sikka articulated his own formulation as ‘Renew+New’.
While ‘Infosys 3.0’ had sent out a message to stakeholders that Infosys wanted to shed legacy service lines and go all out to embrace products and consulting businesses as the way forward, Dr Sikka’s would be an attempt to infuse new life into existing lines of business, while innovating into new ones.
Dr Sikka’s ‘Renew’ would be about “bringing the scale, elasticity and economics of the Cloud to those (existing) systems, integrate them for mobility, and connect them to the world of sensors and the Internet of Things, and to analytics and big data to bring them into the emerging world.”
“All our existing service offerings, service lines, will see this renewal. That renewal will be led by automation, with Artificial Intelligence (AI) technologies, by innovation, and by operational excellence.”
The ‘New’ dimension of the strategy is still amorphous. But Dr. Sikka, who admitted that this was still a ‘high level’ articulation of the vision, knows how Infosys will get to the ‘New’. He will “reskill the workforce, get them to think differently, understand new business models, new systems”. The company has already started a class in AI at its Mysore training campus. And ‘Design Thinking’ will be embedded into all that the company does, with some 25,000 Infoscions given lessons in it over the next year.
“Surrounding and equipping ourselves with next-generation technology will help us create a revolution in human productivity”, he said.