BUSINESS
Infosys working on 225 Gen AI programmes for clients, says Chairman Nandan Nilekani
In response to a shareholder query on the company's acquisition strategy, CEO Parekh said Infosys is exploring sectors such as SaaS and cloud.
BUSINESS
Ex-US ambassador-backed firm Terra plans big investment in Indian AI startups with $2.5-billion fund
The Terra Invest fund aims to pump in money in startups working on AI-based solutions for financial services, healthcare distribution and clean energy
BUSINESS
IT companies' digital spending to increase by 13% to over $26 billion in 2024
The anticipated jump in digital spending will be a shot in the arm for the IT sector, which is facing sluggish demand due to macroeconomic challenges.
BUSINESS
Wipro to continue with strategic acquisitions, invest in talent to fuel growth, says CEO Pallia
Pallia disclosed that the company holds 470 AI patents, and its Lab45 AI platform is ready to use.
BUSINESS
Wipro trained over 30,000 employees in advanced Gen AI skills: Rishad Premji
Wipro has trained over 225,000 employees in Gen AI fundamentals and has actively deployed the nascent tech across internal processes.
BUSINESS
Mixed bag for Indian IT: What Accenture's earnings imply for TCS, Infosys, others
Mid-tier IT companies might bear the brunt from the onslaught of their larger peers as the race to grab large deals, according to analysts
BUSINESS
Infosys expects telecom, automotive, and banking sectors to drive demand for its Gen AI suite Aster
The total addressable market for the offering is around $150-160 billion across various industry segments.
BUSINESS
Wipro investing significantly in AI, Gen AI startups, says CTO Tatavarti
Wipro's strategy also involves in making AI technologies more accessible by reducing costs associated with high-performance computing
BUSINESS
AI today is absolutely at the forefront of marketing, says Infosys CMO Sumit Virmani
Sumit Virmani believes that Gen AI is going to be a true game-changer and “marketeers” who embrace it in a responsible way.
BUSINESS
Cognizant's bold $1.3-bn-Belcan bet a bid to up revenue as core business struggles
The acquisition is a crucial attempt to diversify Cognizant's portfolio, but it also highlights the difficulties the company faces in its traditional business
BUSINESS
TCS, Infosys, HCLTech, Tech Mahindra partner with Yellow.AI for automation solutions
In regions where global system integrators (SIs) have limited presence, Yellow.AI collaborates with regional SIs to offer local market requirements.
BUSINESS
Only 10% of 300-400 Gen AI implementations have scaled, delivered value, says TCS
Nonetheless, that number is expected to eventually increase as ways are found to solve more problems
BUSINESS
Partner with startups to drive disruption, experts urge GCCs
Experts said the need for collaborating with the startups is going to be imperative as they can infuse fantastic innovation into the organisations
BUSINESS
At Rs 66 crore, Infosys' Salil Parekh is second-highest paid CEO in industry
Parekh’s salary was next only to Wipro’s former CEO Thierry Delaporte who earned $20 million (about Rs 166 crore), which included a severance-related package of Rs 92.1 crore.
BUSINESS
EPAM working with over 50 large GCCs in India on manpower, product development
EPAM said the difference between its collaboration with GCCs as compared to other IT companies’ partnership, is the better skilled workforce that supports these captives.
BUSINESS
Silent layoffs grip Indian IT sector, impact over 20,000 employees
According to data shared by All India IT & ITeS Employees' Union, around 20,000 techies lost their jobs in ‘silent’ layoffs in calendar year 2023
BUSINESS
Enterprises hesitate on Gen AI adoption amid pricing model shifts, high costs
Managing costs is tricky for companies because the 'pay-as-you-go' model can get expensive with high usage while minimum payment models need a huge upfront commitment
BUSINESS
GCC hiring helps maintain revenue run rate as IT firms go slow, says TeamLease CFO
TeamLease Services CFO Ramani Dathi says a gap, however, remains in terms of volume, as GCCs hire only a fourth of what IT firms used to
BUSINESS
AI, Gen AI expected to drive growth in FY25, says Wipro even as clients remain cautious
Wipro said businesses have adopted a cautious approach to technology investments, leading to reduced discretionary spending
BUSINESS
Wipro exec chairman Rishad Premji gets no variable pay, takes 20% pay cut in FY24
Premji is entitled to a 0.35 percent commission on incremental consolidated net profits, but since it was negative, no commission was payable
BUSINESS
At $20 million, ex-Wipro CEO Thierry Delaporte becomes highest paid CEO in Indian IT for FY24
Wipro said it incurred severance-related costs worth Rs 92.1 crore towards the outgoing CEO in FY24.
BUSINESS
Europe trails US in AI innovation due to lack of VC funds and skilled talent: Wipro executive
Ivana Bartoletti, Global Chief Privacy & AI Governance Officer, Wipro, said there’s a need to rethink consent mechanisms in the era of AI and the current model of repetitive consent will not work for long.
BUSINESS
GPT-4o, Gemini may soon make certain BPO jobs redundant
Some analysts worry that the adoption of these nascent technologies could result in up to half of the industry’s job roles becoming redundant.
BUSINESS
IT companies see more CVs than they did 3-4 months ago, says Info Edge
However, Info Edge remains cautious about whether this surge indicates a bottoming out of utilization levels for IT firms
