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
BUSINESS
Indians are good at applying ideas generated elsewhere: Infosys founder Narayana Murthy
Murthy urged youngsters to have role models and we will be able to “invent new things”.
TECHNOLOGY
Human mind most powerful instrument invented by God: Narayana Murthy on AI replacing coders
Murthy said that the concern about job loss should be replaced by discussions, debates, and thinking on how AI, generative AI, large language models, and other such nascent technologies could be used as assistive tools to make human beings even more productive.
BUSINESS
Mid-tier IT loses more ground than larger ones as vendor consolidation gains steam
Experts say that even as vendor consolidation deals are being lapped up by the larger companies, their mid-tier rivals have borne the brunt
BUSINESS
Investors see PM Modi coming back, have confidence in reform-oriented govt, says USISPF chief
Mukesh Aghi says investors look at India's election as a role model and believe that the country is a good place to invest
BUSINESS
What's in a name? Cognizant India becomes Innovate amid trademark dispute
A Cognizant spokesperson said the company is temporarily using ‘innovate’ as a header in its social media channels to commemorate one-year anniversary of its Bluebolt innovation initiative
BUSINESS
TCS CEO K Krithivasan earned Rs 25.36 crore in FY24
Outgoing Chief Operating Officer NG Subramaniam earned Rs 26.18 crore in FY24
BUSINESS
Happiest Minds' says it is gaining market share; Margins to continue to decline in FY25
When asked about vendor consolidation deals being handed over to bigger rivals, the company said it has not witnessed any such occurrence in the market.
BUSINESS
India aims to be the AI use-case capital of the world, says Nandan Nilekani
Nilekani also said that doomsday propagators of AI are protectionists while India will open technology for all
BUSINESS
Coforge to acquire 100% stake in Cignity Tech within a year; acquisition will help it grow to $2-bn firm
The midcap information technology firm will begin complete integration of operations after taking over 51 percent of the company
BUSINESS
Cognizant’s headcount declines by over 7,000 in Q1
The Teaneck-headquartered firm’s headcount decreased by 3,300 sequentially and 7,100 YoY, ending with 344,400 employees in the first quarter of 2024.
BUSINESS
Cognizant Q1 revenue falls over 1% due to weak discretionary spending
The company also saw its headcount decrease by 3,300 sequentially and 7,100 YoY, ending with 344,400 employees in Q1.
BUSINESS
Birlasoft CEO says perfect storm of uncertainty in IT sector; FY25 to mirror FY24
The combined effect of economic uncertainty, varying GDP growth rates across nations, and geopolitical conflicts have created an unpredictable demand environment, not just for Birlasoft, but for the IT sector overall.
BUSINESS
At Rs 50 crore, Wipro’s Pallia becomes the second-highest paid CEO in industry
The top spot is currently occupied by Infosys’ CEO Salil Parekh, who rakes in Rs 56 crore annually as his total remuneration package
BUSINESS
CEOs of IT companies expect mixed bag in FY25 after weak show last year
While TCS and Tech Mahindra say the current financial year will be better than the last one, Infosys and HCLTech expect it will be similar.
BUSINESS
Wipro’s consulting business Capco sees “green shoots”
Chief financial officer Aparna C Iyer said Capco has grown quarter-on-quarter by 6.6%
BUSINESS
Wipro CEO Pallia unveils five focus areas to turn around the company
Pallia said Wipro would first accelerate large deal momentum by working closely with clients and partners, among other 4 measures.
BUSINESS
Wipro guides for revenue of (-) 1.5% to 0.5% in Q1FY25
CFO Aparna Iyer said it is a tough macroeconomic environment and clients are going through a very challenging time.
BUSINESS
TCS outperforms Infosys in revenue growth for the first time in five years
Although TCS is much bigger than Infosys in size, it has still outperformed its Bengaluru-based next-best rival hands down.
