Year in Review: Infosys' Successes in 2022

Infosys Highlights from 2022: A Year in Review

Infosys, one of the largest IT service-based companies globally, had a remarkable 2022, showcasing its strengths and achievements. Here's a simplified overview of Infosys' key activities:

1. Record Hiring Despite Layoffs Elsewhere: Infosys, part of the WITCH companies in India (Wipro, Infosys, TCS, HCL), stood out by recruiting 105,000 professionals in the first half of 2022. This growth was particularly significant in a year marked by layoffs and job uncertainties in the West.

2. Financial Performance: Despite facing a 12% decline in its stock, Infosys saw its revenue increase by around $2 billion. Notably, Infosys was among the few Indian companies that experienced substantial growth opportunities after the pandemic.

3. Controversies and Challenges: Infosys faced controversies, including reports of discriminatory hiring practices. The company's former vice-president allegedly received instructions not to hire individuals of Indian ancestry, mothers with young children, or those over 50. Additionally, the election of Rishi Sunak, the son-in-law of Infosys founder Narayan Murthy, as the UK Prime Minister gained attention.

4. Focus on AI and Analytics: Infosys shifted its focus beyond being a service provider and delved into AI and analytics. Partnering with IBM, they launched a center for AI and automation in Poland, aiming to offer solutions that reduce costs, enhance productivity, and improve customer experience.

5. Infosys Accelerate: To address moonlighting in the Indian IT sector, Infosys introduced Accelerate, an internal marketplace allowing employees to engage in short-duration gig work. This gamified platform rewards participants with performance credits, redeemable for gifts.

6. Tennis Enthusiasm: Infosys continued its decade-long involvement in tennis, collaborating with organizations like the French Tennis Federation. Utilizing AI and Infosys Cobalt cloud solutions, they enhanced the spectator, tournament, broadcast, and player training experiences during the French Open.

7. Metaverse Foundry: Infosys ventured into the metaverse, introducing the Metaverse Foundry to assist businesses in navigating virtual and augmented environments. With over 100 use cases and templates, Infosys aims to help users connect to the metaverse using its platform.

8. Financial Outlook for 2023: Infosys is poised to kick off 2023 with its Q3 earnings releasing on January 13, 2023. Building on its strong Q2 performance, Infosys reported a consolidated net profit of Rs 6,021 crore, marking an 11.1% increase from the same quarter the previous year.

In summary, Infosys' diverse initiatives in 2022 showcase its adaptability, innovation, and commitment to growth across various sectors, from technology and AI to employee engagement and sports.