Recent global rout in IT stocks, triggered by fears that advanced artificial intelligence tools could disrupt traditional services models, should be viewed as an opportunity rather than a threat, said Ashok Soota, Chairman and Chief Mentor of Happiest Minds Technologies.
Indian IT stocks have seen sharp selling in recent sessions, mirroring a global technology rout after AI startup Anthropic unveiled new enterprise capabilities for its Claude platform.
The selloff has been driven by investor concerns that AI-led automation could compress timelines and reduce dependence on large, services-led delivery models.
A veteran of India’s IT industry, Soota previously founded Mindtree and earlier played a key role in scaling Wipro’s IT services business.
He added, in a statement, that the growing excitement around AI platforms and plug-ins may lower the entry barrier for building software, but it does not diminish the role of IT services firms. Instead, it increases the need for partners that can handle enterprise-grade integration, governance, orchestration and managed services.
“As an AI First company, we welcome this development,” Soota said in a statement, adding that innovations in enterprise AI reinforce the role of IT services in guiding organisations through large-scale technology transformation.
Drawing parallels with earlier disruptions such as SaaS and cloud computing, Soota said every major technology shift has historically expanded the scope of IT services.
While AI platforms act as accelerators, he said, real value is created only when these tools are embedded into core business processes and aligned with security, compliance and industry regulations.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
