IT firms to benefit from generative AI in long run
A new Nuvama report says Indian IT companies are poised to benefit big from generative AI, even if things feel a bit shaky right now.
As more businesses turn to IT pros for major AI projects, the overall market is getting bigger and more exciting.
Generative AI boosting productivity
Right now, many businesses are testing the waters—trying out smaller AI projects before going all in.
When they do use generative AI, they're seeing productivity jump by 15% to 18%, and sometimes even up to 35%.
That means tech teams with these skills can charge more for their work.
Executives expect to increase generative AI budgets
Many executives plan to increase generative AI budgets, with likely emphasis on areas like operations and marketing.
Plus, India's generative AI startup scene is exploding, with more than 175 startups and huge growth rates.
TCS reported about $1.5 billion in AI-related revenue (annualized), underscoring rapid growth in AI demand.