Automation and AI continued to log in multi-million dollar prospects for Indian IT companies despite slower overall growth and visa concerns in an eventful year that was marked by high-drama of a hostile takeover at Mindtree, change of guard at Wipro, and whistleblower allegations against Infosys top leadership.
In a departure from the past, industry body Nasscom discontinued providing its annual growth forecast for the industry — an important tool to gauge the sentiment of the sector.
For 2019, Nasscom said it was “cautiously optimistic” and cited rising global economic uncertainties arising out of trade wars and protectionism.
The industry is focussing on new-age technologies like robotics, artificial intelligence (AI) and machine leaning to not just help customers stay ahead in the game but also remain competitive themselves.
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The advent of new technology paradigms like robotics, AI, blockchain and IoT is changing how companies and individuals consume technology and for the Indian businesses to remain successful, an update to the technology of tomorrow, today will be needed, Nasscom Senior VP and Chief Strategy Officer Sangeeta Gupta said.
With automation and artificial intelligence increasingly becoming an integral part of business, concerns around layoffs also continued to linger through the year.
Source: Outlook
