The Co-founder of Infosys Mr. N.R Narayan Murthy in an event in IIT Mumbai called AI more hype than reality. He has been known for his straightforward views on the matters of Technology, business and market. He is very vocal about the current software market trends.
His views have been regarded as acute advises which distills the future trends of the industry. He has warned IT industry to be less greedy, and offer salary hike to freshers and managers. This trend, according to him sets a very wrong benchmark in the industry which has been creating a lot of noise regarding AI and Machine Learning without any solid implementation and proof work.
Narayan Murthy called this more hype which is just to deflect the attention from the real issues plaguing it industry. In recent times, he has been criticized for expressing his view too strongly and publicly about the working of top managers at the Infosys. Ex- CEO of Infosys Vishal Sikka resigned after many false claims about him were made by Mr. Murthy.
The appointment of Nandan Nilekani as the CEO of the Infosys brought a sense of relief and stability in the Infosys. The media reports that IT industry is seeing large attrition rate which is attributed to the automation technology.The latest technology of Artificial Intelligence and Machine Learning has brought its own set of challenges, which the Indian IT industry is finding it hard to cope.
The total overhaul of the system and staff would be required to adopt the new technologies. The reorientation programmes have to be conducted to create employees who are ready for the advanced technology. Recently, Ex-CTO of Flipkart also echoed the same view, when he mentioned that more than 90% of companies claiming to be working in the AI are doing nothing. The core technology is still missing from their product.
The Future of the Technology
The innovation and experimentation cannot stop in the technology. The people have to keep abreast with the changing times. What Narayan Murthy Said holds true for any industry who wish to create an air of secrecy and false clamor to deflect themselves from the core principles of their company.
The people of the company are the key resources of any company, and if they are not satisfied with the way they are treated in the company this will definitely have an adverse impact on the future of the company. Mr Murthy asked the top leaders to set an example in front of juniors which they can try to emulate in their career.
If there is really a problem in the process, the top leaders should be the first to take the hit, not the juniors and freshers. The rate of hiring has slowed down in the IT sector according to the NASSCOM. Without making any direct reference, Mr Murthy pulled a great lesson for the top leaders to be less greedy and let the capitalism do good for everyone involved.