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100+ Global Enterprises Take Advantage of Infosys Living Labs to Accelerate their Digital Innovation Agenda

Posted On: 2021-08-04 14:35:10 (Time Zone: UTC)

Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, today announced that Infosys Living Labs is driving the digital innovation agenda for over 100 global enterprises. With Infosys Living Labs, businesses can leverage on-demand multi-tiered digital infrastructure, comprising technology, processes, people, and an innovation ecosystem. The flexibility to consume these capabilities as modular services on tap, over ramping up and down the same capabilities in-house, is compelling for enterprises.

"Posti has embarked on a transformation journey and Infosys Living Labs, with its capabilities in innovation, has been instrumental in helping us accelerate this journey," said, Turkka Kuusisto, President and CEO, Posti Group Oyj.

Infosys Living Labs is helping enterprises adapt to new priorities and market trends, also enabling them to accelerate their response to these shifts with strategic innovations. This is proving to be a critical business capability for businesses to drive recovery and growth in the next normal. Infosys Living Labs delivers on the promise of:

Speed: Enterprises are creating the right conditions for rapid experimentation and response to market needs by collaborating with Infosys. Through Infosys Living Labs, they are kickstarting agile innovation cycles that start with instituting listening posts for trendspotting. They are also harvesting ready-to-scale innovations from the Infosys innovation ecosystem of startup and academia partners. Infosys Living Labs' sandboxes and incubation facilities also include shared maker spaces in Infosys global digital centers to accelerate the innovation process. A good example is how Infosys Living Labs helped an American investment firm spot changing consumer trends in their business and build gamified visualizations of retirement savings benefits for their customers in our digital center. This human experience delivered muchneeded upticks in sales for them during the pandemic.

Scope: Infosys Living Labs is helping companies expand the breadth of their innovation by bringing expertise in emerging technologies, across a global footprint, along with cross-industry experience that most corporations seek. For example, a mail services company in Europe harnessed Infosys Living Labs to build a hyper-efficient parcel sorting mechanism. They co-created, with Infosys Living Labs a cloudpowered, IoT-assisted system with central intelligence to operate automatically and accurately year-long. It saved them the costs of setting up additional sorting facilities during seasonal peaks.

Scale: Because solutions that must work at scale must be designed for scale, enterprises rely on Infosys Living Labs' proven frameworks and best practices to go to market with scaled innovations. They count on Infosys Living Labs' talent and technology leverage to help them manage the pilot-to-production ramp up smoothly. As an example, a multinational distributor of food digitized their complex inbound supply chain with Infosys Living Labs. Taking a persona-focused prototype-driven approach to validate the various solutions with stakeholders, Infosys meticulously mapped requirements to scale the prototype with the capability landscape. In agile sprints, executed over the following weeks, the digital solution replaced 20% of the legacy landscape, driving 30% productivity improvements.

Ravi Kumar S, President, Infosys, said, "Digital natives have an incredible advantage as the capabilities, skills and culture needed to continuously experiment, learn and adapt are intrinsic in their organizational DNA. In contrast, incumbent enterprises must digitally transform, and at greater clock speed in the next normal. Infosys Living Labs helps them be digital-on-demand when their own digitalization is picking up pace and the full benefits of their transformation are yet to be realized."

Infosys Living Labs partners with the venture capital investment arms of global enterprises to mutually enrich portfolios of tech innovators on the one hand and bring the value of more innovations to more enterprises, on the other.

"We are excited to partner with Infosys to help our portfolio companies scale new heights by providing them access to Infosys' global client base. Infosys brings its rich heritage of delivery excellence and Global access to our portfolio companies. We are a growth investor in lighthouse technologies and Infosys Living Labs provides a great opportunity to bring best in class technology innovations to clients while de-risking the adoption of startup solutions for Infosys clients," said, Matthew Koertge, Managing Director, Telstra Ventures.

Shares of Infosys Ltd was last trading in BSE at Rs. 1649.15 as compared to the previous close of Rs. 1654.1. The total number of shares traded during the day was 336519 in over 9658 trades.

The stock hit an intraday high of Rs. 1680 and intraday low of 1639.35. The net turnover during the day was Rs. 555972832.

Source: Equity Bulls

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