AI shift painful for IT industry: HCLTech CEO
HCLTech CEO C Vijayakumar called the move to AI "painful" for the IT industry, mainly because it's a big change for people.
Speaking at a Mumbai tech forum on February 24, he also said worries about IT stocks are "overblown"—and now isn't the time to write off this field.
AI's impact on revenue growth, hiring
Vijayakumar explained that AI has upended how the IT sector grows revenue and hires people—a model that's stayed the same for decades.
Now, HCLTech is pushing teams to double revenue with half as many people by using AI automation.
He also thinks companies should build their own language models instead of relying on open-source ones, which could be risky due to global politics.
Potential in updating old mainframes and investor fears
On updating old mainframe systems (like those running COBOL), Vijayakumar said there's more potential than just converting code—it's a real chance for growth.
He repeated that investor fears about IT stocks are exaggerated and urged everyone not to jump to conclusions about where tech jobs or services are headed next.
Infosys CEO Salil Parekh agreed: it's time for the industry to rethink what it offers.