Flurry of top-level exits continue at IT major Wipro
Mohd Haque, senior vice-president and head of healthcare and medical devices for the Americas, and Ashish Saxena, SVP, and head of the manufacturing and hi-tech business unit, are the latest to exit the company.
Generative AI: How IT firms are building capabilities in unprecedented ways
Companies are increasingly investing in advanced generative AI platforms due to their success rate and potential in transforming businesses. The COVID-19 pandemic further accelerated the need to build technology capabilities across several sectors, which opened up new opportunities for the IT industry. Generative AI holds significant potential to transform businesses across several sectors, and US IT major Accenture identified over 300 potential use cases across 19 industries. Though generative AI can drive demand tailwinds, cost competitiveness will remain key for the IT sector. Reports suggest that the global AI market, currently worth $130 billion, has the potential to grow by 40% over the next 7-8 years.
Top four IT companies log 40% drop in large client additions in FY23
Top four IT majors, Tata Consultancy Services (TCS), Infosys, HCLTech and Wipro, added 80 large clients which are classified as deals in the $10 million to $100 million range in the fiscal ending 2023 versus 132 clients in FY22, according to ETs analysis.