Fractal posts 19% revenue rise as enterprise AI drives growth
Fractal just reported a solid 19% revenue boost for the year, mostly thanks to the rising popularity of enterprise AI.
Banking and finance grew by 40%, while life sciences and healthcare saw an impressive 80% jump.
Even though its tech, media, and telecom business dropped by 19% due to some client shake-ups, the company's overall growth (excluding TMT) hit a notable 27%.
Srikanth Velamakanni doubles down on AI
Fractal's co-founder, Group Chief Executive & Executive Vice-Chairman Srikanth Velamakanni says he's doubling down on AI in industries with complex needs: think banks improving customer experience or scientists speeding up drug discovery.
With existing clients spending more (net revenue retention at 112%), Velamakanni remains upbeat about enterprise AI's potential, even with global uncertainties ahead.