“This follows the disclosure of Infosys' vide letter dated September 14 regarding an MoU with a global company. The global company has now chosen to terminate the MoU and the parties will not pursue an agreement. Framework Agreement“Infosys said in an exchange filing on Saturday.
The deal was expected to earn Infosys $100 million annually for 15 years. These cancellations have profound consequences for businesses and individuals, especially in a slow market as consumers avoid discretionary spending.
Ray Wang, chief executive of US IT consultancy Constellation Research, said: “When you win or lose a contract of this size, you traditionally have to consider whether to increase or decrease the cap.” However, the impact on AI contracts is much smaller because we're not dealing with humans anymore. , we're in a world where we're competing with robots, and the more automation we provide, the less we need humans. Hence, in future, the impact of work will be minimal.
Phil Fersht, CEO of US IT Consulting HfS ResearchHe said there haven't been many (cancellations) in recent years, so the impact on morale is detrimental.
Infosys CEO recently announced the September quarter results Salil Parekh The company completed $7.7 billion worth of major deals this quarter, its highest ever. Given the uncertain macroeconomic environment, he said this is a testament to Infosys' ability to adapt.
