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While only 2% are ready, most companies expect productivity gains of 10-40% with Enterprise AI: Infosys Research

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Enterprises need to prepare themselves in five key areas – strategy, governance, talent, data, and technology – to achieve significant productivity gains from AI

BENGALURU, India, Oct. 29, 2024 /PRNewswire/ — Companies globally recognize the potential of artificial intelligence (AI) and are eager to adopt enterprise AI, yet most are far from fully integrating AI into their businesses and operations owing to large gaps in basic AI readiness, reveals a new research from the Infosys Knowledge Institute (IKI), the research arm of Infosys (NSE: INFY), (BSE: INFY), (NYSE: INFY).

The Infosys Enterprise AI Readiness report includes insights from over 1,500 respondents across Australia, New Zealand, France, Germany, the United Kingdom, and the United States, backed up with in-depth interviews with 40 senior executives in the US and UK.

The Infosys research highlights that while executives envision AI as the next industrial revolution, transforming business models and shaping the new economy, many companies lack the foundational building blocks for successful enterprise AI adoption. According to the research, enterprises expect an average increase of 15% in productivity from their current AI projects, with some anticipating up to 40% gains, yet only 2% of organizations are ready across all five key dimensions: talent, strategy, governance, data, and technology. The biggest gaps lie in technology readiness, with only 9% of companies possessing the necessary AI capabilities like machine learning frameworks, prebuilt algorithms, and dynamic compute. Additionally, data accuracy, processes, and accessibility are significant challenges, with only about 10% of respondents reporting ease of data location and access for AI projects.

To overcome these hurdles and realize the full potential of AI, including gen AI, companies must address readiness gaps and foster a culture of innovation. A clear AI strategy aligned with business objectives is essential, encompassing technology investments, talent acquisition, and ethical considerations.

The research outlines five steps to close the gaps and reduce apprehensions about AI to accelerate adoption:

Develop a comprehensive AI strategy: A strong AI strategy aligns with business objectives, enhances revenue growth, and ensures desirable, feasible, and viable use cases. Only 23% of our respondents show readiness in this area.Establish responsible AI governance: AI governance is crucial for managing risks like bias, misuse, and security threats. Only 10% of companies have well-defined governance processes. Responsible AI requires tailored guidelines, and a centralized AI governance team. Infosys’ Responsible AI Office, part of Infosys Topaz, demonstrates this approach by establishing policies to ensure data security and mitigate risks, enhancing AI’s value for enterprises.Upskill the workforce: Despite the critical role of AI in enterprises, only 21% said their employees have the requisite knowledge to adopt AI tools and techniques. Upskilling is key, yet just 12% offer adequate training. Effective AI integration hinges on closing skills gaps and fostering collaboration. Forward-thinking firms are creating AI skill pathways to ensure readiness.Prepare data infrastructure for AI: Data health is crucial for AI success but remains a challenge. Only 10% of the companies find their data easy to access, while 30% rate their data accuracy and governance as poor. Enterprises need to constantly assess their systems, improve data quality, and ensure proper storage for effective AI implementation.Cultivate a culture of tech-powered innovation: Technology is a significant gap in enterprise AI readiness, with only 9% of companies fully prepared. Investing in foundational technologies like machine learning and automation can improve customer experience, reduce errors, and enhance compliance. Fostering a culture of innovation and employee readiness for AI adoption enables enterprises to create better value.

Mohammed Rafee Tarafdar, Chief Technology Officer, Infosys, said: “To become enterprise-wide AI-ready and realize the promise of this technology, including gen AI, it is imperative to establish a robust and scalable foundation. Our research and learnings from our AI-first transformation journey has shown that data readiness, enterprise gen AI platform with responsible AI guardrails, and AI talent transformation are key to accelerate and democratize AI development. This must be complemented by an AI foundry and factory model for scaling AI initiatives across the enterprise.”

Jeff Kavanaugh, Head of Infosys Knowledge Institute, said, “Our research found that Enterprise AI, including gen AI, promises to unlock up to 40% in productivity gains, yet only 2% of companies are truly ready. This readiness gap represents both a challenge and a massive opportunity. Those who act now – by building a clear AI strategy, including gen AI, establishing strong governance, and upskilling talent – will not only lead the next wave of innovation but will fundamentally reshape their industries. AI is not a distant goal; it is the prerequisite foundation for future competitiveness. The time to invest in AI readiness is now.”

To read the full report with detailed insights, please visit here. 

About Infosys

Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.

Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements in this release concerning our future growth prospects, or our future financial or operating performance, are forward-looking statements intended to qualify for the ‘safe harbor’ under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, increased competition for talent, our ability to attract and retain personnel, increase in wages, investments to reskill our employees, our ability to effectively implement a hybrid work model, economic uncertainties and geo-political situations, technological disruptions and innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, our corporate actions including acquisitions, and cybersecurity matters. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2024. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company’s filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

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State Grid Xuzhou Power Supply Company: “inspection replacement” to improve the quality and efficiency of power transformation operation and maintenance

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October 30, 2024

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XUZHOU, China, Oct. 30, 2024 /PRNewswire/ — A few days ago, the State grid Xuzhou power supply company Suining power transformation operation and maintenance class in the team station, respectively, 110kV Suining and Guanshan change to carry out online intelligence patrol, marking the State grid Xuzhou power supply company into the “inspection replacement” new era.

Compared with the previous use of video surveillance means for macro monitoring of the security environment in the station, the intelligent patrol system through high-precision video acquisition equipment, focusing on transformers, circuit breakers, isolation switches and other key equipment in the substation. In addition, the intelligent patrol system can collect equipment appearance status, oil temperature, gas pressure value and other important production and operation data in real time, and upload it to the main station host in the region in time for centralized storage and automatic analysis.

It is worth mentioning that the intelligent patrol system also integrates advanced artificial intelligence algorithms, which can automatically identify equipment defects, as well as potential alarms such as equipment overheating, oil level anomalies, and gas leaks, to achieve unmanned automatic patrol. Through this move, not only greatly improve the inspection efficiency, but also significantly enhance the accuracy and timeliness of defect detection, and provide a strong guarantee for the safe and stable operation of the substation.

It is estimated that in the trial operation stage, the efficiency of the intelligent patrol system is 50% higher than that of the traditional manual patrol. At present, it is the autumn maintenance peak of the power grid. In order to test the accuracy and stability of the system, the manual inspection is still carried out normally, forming a dual-track operation with the intelligent patrol.

View original content:https://www.prnewswire.com/apac/news-releases/state-grid-xuzhou-power-supply-company-inspection-replacement-to-improve-the-quality-and-efficiency-of-power-transformation-operation-and-maintenance-302291152.html

SOURCE State Grid Xuzhou Power Supply Company

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Quintus Unveils World’s Largest High Pressure Processing System

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2 mins ago

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October 30, 2024

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Model QIF 600L HPP Press Scales New Productivity Heights

VÄSTERÅS, Sweden, Oct. 30, 2024 /PRNewswire-PRWeb/ — With the debut of the QIF 600L High Pressure Processing (HPP) system, Quintus Technologies once again raises the bar in high pressure processing. The new press model, launching today, offers an impressive 600-litre cycle capacity, the largest in the industry. Its generous 18.5 inches (47 cm) pressure vessel diameter improves load efficiency and accommodates more packages per cycle. Equipped with up to 12 intensifiers, the scalable system can process 9,140 lbs. (4,150 kg.) per hour to meet the most demanding production needs.

“As the array of food and beverage products that benefit from high pressure processing continues to grow, so does the demand for HPP capacity—and productivity,” says Ed Williams, General Manager – Americas, Quintus Technologies

High Pressure Processing is recognized globally as the premium, non-thermal minimal-processing technique to produce safer, preservative-free refrigerated foods and beverages. By using ultra-high pressure instead of heat or chemicals, HPP inactivates foodborne pathogens to ensure product safety while maintaining freshness, taste, and nutritional value.

“As the array of food and beverage products that benefit from high pressure processing continues to grow, so does the demand for HPP capacity—and productivity,” says Ed Williams, General Manager – Americas, Quintus Technologies. “Our new QIF 600L responds to these needs, increasing throughput per cycle and boosting overall production capacity while lowering per unit costs.”

A multitude of advanced features to maximize system availability make the press an efficient, cost-effective solution in high-volume environments. All components that require regular maintenance or inspection are easily accessible. An integrated condition monitoring system uses AI algorithms to predict the need for maintenance of vital components, reducing the risk of unplanned stops. “SmartPress,” easy-to-use cloud-based press management software, provides extensive support for the press operation and maintenance as well as a fast, direct line to Quintus support and guaranteed access to spare and wear parts.

“These high-performing solutions reflect Quintus’s leadership role in high pressure for nearly three-quarters of a century,” Mr. Williams comments. “Our groundbreaking achievements include the development of the first commercially viable HPP system for food and beverage applications in 1995. Our wire wound pressure vessel design is widely acknowledged to be the safest, most reliable, and durable pressure containment system ever invented.”

Quintus press offerings are accompanied by the industry’s best-in-class HPP service program, Quintus® Care, a customized service solution that ensures operational reliability, maximum performance, controlled annual costs, and long-term partnership. Application support is available at the company’s HPP Application Centers in the U.S., Sweden, and China, where food science experts help processors reduce delays in bringing new HPP products to market. The menu of services spans the entire HPP development process, from optimized product formulations and packaging, in-house pathogen validation, and shelf-life studies to assistance with HACCP implementation and regulatory compliance and optimizing processing parameters for maximum ROI.

“As the originator of HPP technology, we are proud to see our presses play a part in helping industry address global safety and sustainability challenges such as food waste, product recalls, and related foodborne illnesses,” states Johan Hjärne, CEO of Quintus Technologies. “With the addition of the scalable QIF 600L, we now have a gamut of state-of-the-art, high-performance press models that give processors of all sizes a competitive edge.”

Depending on intensifier configuration, the QIF 600L press scales from 6,860 lbs. to 9,140 lbs. (3,110 kg. to 4,150 kg.) per hour.

Visit the Quintus HPP team at Pack Expo in Chicago, IL, Nov. 3-6, 2024, in the Processing Zone, Booth LU-7566.

About Quintus Technologies

Quintus Technologies is the global leader in high pressure technology. The company designs, manufactures, installs, and supports high pressure systems in three main areas: densification of advanced materials; sheet metal forming; and high pressure processing for food and beverage innovation, safety, and shelf life. Quintus has delivered over 1,900 systems to customers within industries such as energy, medical implants, space, aerospace, automotive, and food processing. The company is headquartered in Västerås, Sweden, with a presence in 45 countries worldwide. For more information, visit https://quintustechnologies.com/

Media Contact
Ed Williams, Quintus Technologies, 1 (614) 891-2732, ed.williams@quintusteam.com, quintustechnologies.com

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SOURCE Quintus Technologies

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Empowering ESG and Supporting Global Sustainability Goals with Raytron Infrared Thermal Imaging

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October 30, 2024

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YANTAI, China, Oct. 30, 2024 /PRNewswire/ — Raytron Technology Co., Ltd., a leading company in infrared thermal imaging, is driving innovation to support Environmental, Social, and Governance (ESG) initiatives through advanced thermal imaging solutions. These solutions are widely applied in industries such as firefighting, industrial automation, power safety monitoring, renewable energy, and wildlife conservation, contributing to reduced carbon emissions and improved safety standards. The company continues to practice ESG in its own operations.

Environmental: Committed to Green Development

Raytron prioritizes minimizing hazardous waste and reducing energy use by leveraging innovative technologies, fostering a green, low-carbon, and circular economy. The company delivers specialized infrared thermal imaging solutions across coal, power, and renewable energy sectors, supporting these industries’ transitions toward a sustainable economy. Furthermore, Raytron’s infrared thermal imaging technology significantly aids wildlife conservation and forest fire prevention initiatives, actively supporting ecological balance and enhancing biodiversity through science-driven approaches.

Social: Advancing Together with Employees and the Community

Raytron is dedicated to social responsibility, prioritizing both employee growth and community well-being. With more than 3,000 employees, 48% of which are R&D personnel, Raytron has been authorized and accepted a total of 2,879 intellectual property projects, highlighting its commitment to talent development and innovation. Raytron also actively supports education and community initiatives, contributing through educational fund donations and the provision of infrared thermal imaging devices.

Governance: Advancing Together with Stakeholders

Raytron fosters strong communication with current and potential investors, enhancing transparency through regular, multi-channel updates that prioritize investor protection. The company upholds rigorous operational standards, supported by a robust internal control system and compliance with multiple management standards, including ISO 9001, IATF 16949, QC 080000, ISO 14001, ISO 45001, and ISO 27001, ensuring mass production and quality management. Raytron’s high production capacity and comprehensive quality framework have secured market trust and consistently met customer expectations.

Raytron remains dedicated to its mission of creating customer value with technological advancement. In 2024, Raytron released the world’s first 6μm uncooled infrared thermal sensor which will expand infrared technology applications across more industries. With integrity in our relationships with suppliers, customers, and consumers, Raytron is committed to advancing sustainable development, upholding environmental stewardship, engaging stakeholders with integrity and quality, and fostering sustainable, harmonious growth for both the company and whole society.

For further information:

Raytron Marketing Department

E-mail: sales@raytrontek.com 

Website: https://en.raytrontek.com/

Facebook: https://www.facebook.com/profile.php?id=61561956133815  

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