Citi Research: Cognizant scales AI pilots into larger business deals

Business Sep 17, 2026

Cognizant is stepping up its AI game, with projects moving from small test runs to bigger business deals, according to Citi Research.

While these new contracts might not boost revenue right away, they're laying the foundation for real growth over the next couple of years.

Cognizant expects 5% to 7% revenue-per-person

Citi points out that Cognizant is shifting from just software work to using AI to get more done per employee.

IT service providers are also switching to fixed-price contracts that pay for outcomes, not just hours worked.

Thanks to this approach, Cognizant expects a 5% to 7% bump in revenue per person in the medium term.

Plus, ongoing project expansions and bigger deals could help them stand out as IT services start looking more alike everywhere.