Oracle said the investment will include training over 8,000 practitioners and developing more than 100 industry-specific AI use cases across sectors such as manufacturing and utilities.
While announcing its Q4 results, consulting firm Accenture Plc said it expects US federal spending cuts on consultants to slow its growth next year.
A re-rating of the sector as a whole looks unlikely till there is a new technology cycle with meaningful earnings visibility
Workforce reductions and acquisition exits come as IT demand softens; TCS also cut staff amid industry-wide caution earlier.
CEO Julie Sweet said every time there’s a big policy change, unfolded over decades, it has usually driven more business for the company.
Since it began separately disclosing Gen AI numbers in FY24, the company has accumulated more than $7 billion in bookings from the nascent technology.
Accenture expects revenue growth of 2-5% in local currency in FY26 and plans to return at least $9.3 billion in cash to shareholders.
India is already Accenture's largest employee base globally, with more than 300,000 of its 790,000 employees based in the country
Accenture is using acquisitions to quickly scale-up in new growth areas
Given the uncertain macro, there could be both winners and losers
Accenture’s latest results have sent Indian IT stocks into a tailspin, but the real concern lies deeper than just weak outsourcing numbers. The sector’s inability to engage meaningfully with Generative AI poses a far bigger challenge.
Nomura said that it expects the growth momentum in the financial services vertical to continue in the near term for Indian IT services companies.
Despite the drop in bookings, the world's largest IT firm raised the upper end of its annual revenue growth forecast to 6-7%, from 5-7% earlier.
Meanwhile, the company said its revenue from Gen AI is now upwards of $1 billion year-to-date. Accenture follows a September-August financial year.
The company has increased the upper end of the annual revenue growth guidance between 6% and 7%, compared with its prior forecast of 5% and 7%.
Sales from generative AI have increased to $2.6 billion in the last six months, Chief Executive Officer Julie Sweet said in an interview with Bloomberg Television.
The world’s largest IT firm refers to this transition as the rise of "HQ2", with global leadership roles, decision-making power, and ownership of initiatives such as data, AI, and product development.
During the March quarter earnings call, Mphasis had said there were no project cancellations, and it was confident of sustaining the deal momentum over the coming quarters.
The company will also promote nearly 50,000 employees globally, including approximately 15,000 in India.
About 88 percent users said they would be open to using an AI-powered financial assistant to help with tasks like ensuring they don’t miss payments and to avoid late fees, as well as to monitor account balance.
As part of the deal, around 210 professionals from Hyderabad-based TalentSprint will join Accenture LearnVantage
Another IT firm Cognizant grabbed the 5th spot on the list, showcasing the dominance of tech firms in providing career progress opportunities in the country
The partnership aims to elevate the customer and employee experience, enhance business agility, and create new value and growth for the jewelry retailer’s global operations.
Accenture CEO Julie Sweet highlighted rising global economic and geopolitical uncertainty, a shift from the Q1FY25 outlook.
Indian IT stocks are likely to open on a weak note after Accenture’s Q2 earnings guidance disappointed investors, leading to a 10 percent drop in its stock.