Infosys signs MoU with Aramco to accelerate human resource technologies

Infosys also plans to embed digital transformation practices and tools into Aramco’s HR platform

Signing deal with Aramco 

Infosys has signed a Memorandum of Understanding (MoU) with Aramco, one of the world's leading integrated energy and chemicals companies, to collaborate on accelerating their human resource (HR) technology. Together, Infosys and Aramco aspire to bring new insights to HR data and analytics; scale the use of automation tools; and enhance employee experience through artificial intelligence (AI) technologies. 

Infosys also plans to embed digital transformation practices and tools into Aramco’s HR platform, enhancing the overall digital experience for employees to engage more productively. Additionally, Infosys aims to leverage AI to further bolster Aramco’s employee learning and development experiences and reduce skill gaps. This will attempt to help Aramco unlock talent to match people to opportunities in the company. 

The collaboration also intends to work on analysing how automation can optimize repetitive tasks related to HR management through AI-powered learning, reducing time and effort in training delivery. AI-powered analysis will aim to provide insights, track return on investment and support Aramco with algorithmic decision-making to spot trends and identify relevant recruitment channels. 

Stock price movement 

On Tuesday, the stock opened at Rs 1226.30 and has touched a high and low of Rs 1227.70 and Rs 1215.45 respectively. The BSE group 'A' stock of face value Rs 5 touched a 52-week high and low of Rs 1,672.45 and Rs 1,218.05, respectively. Last one week high and low of the scrip stood at Rs 1300.00 and Rs 1218.05 respectively. The current market cap of the company is Rs 5,08,737.92 crore. 

The promoters holding in the company stood at 15.14%, while Institutions and Non-Institutions held 68.87% and 16% respectively. 

Company Profile 

Infosys Ltd provides consulting, technology, outsourcing and next-generation digital services to enable clients to execute strategies for their digital transformation. It is the 2nd largest Information Technology company in India behind TCS.