Persistent Systems focuses on AI amid industry 10% deal decline
Persistent Systems is putting AI front and center, choosing to invest in smarter tech rather than chasing quick profits right now.
CEO Sandeep Kalra says this move comes as the tech industry faces some turbulence, including a 10% drop in new deals last quarter.
Still, the company managed to grow its revenue to $436 million and bumped up its profit margins.
Sandeep Kalra combines talent and buyouts
Kalra's game plan mixes building up its own talent with acquiring new capabilities through smart buyouts.
With AI shaking up how tech services are priced (think 2% to 5% drops), Persistent wants to use AI to offer more valuable services and keep margins steady at around 16% to 17%.
The bigger goal? Laying a strong foundation so they can keep growing and stay competitive over the next decade, no matter how fast the market changes.