IT firms are pivoting toward AI services model: Ashwini Vaishnaw
India's IT companies are shifting gears toward artificial intelligence (AI), and Union Minister Ashwini Vaishnaw wants everyone to know they're up for the challenge.
Speaking at the India AI Impact Summit, he said, "IT companies are pivoting toward AI services model, working on providing the AI services," aiming to calm worries about job losses as automation grows.
Global demand for AI upgrades
There's a huge global demand for AI upgrades—think old tech systems needing a smart makeover.
Vaishnaw pointed out that Indian firms have what it takes to scale up these services worldwide, even as IT stocks have dipped over automation fears and big sell-offs.
Need for new skills
Vaishnaw emphasized that learning new skills will be crucial.
Infosys co-founder Nandan Nilekani recently said that while AI boosts productivity, it also creates space for fresh talent.
CEO Ravi Kumar S added that jobs may evolve with AI but managing and modernizing technology will still need people in the loop.