Phil Fersht says AI market correction could benefit Indian IT
Phil Fersht, CEO and Chief Analyst at HFS Research, thinks a shake-up in the AI industry, where high valuations could trigger a market correction, might actually help Indian IT companies.
He describes this as the bottom of a "J-curve," meaning things look tough now but should recover soon.
Fersht sees Indian IT firms playing a big role in helping major global companies get serious about using AI, since many still haven't mastered it.
Fersht urges Indian IT platform-led focus
Fersht believes Indian IT firms should move away from hiring lots of people and focus more on platform-led models that deliver real results.
He points out there's nearly $18 trillion in untapped value waiting inside big companies.
His advice? Firms like Infosys and Wipro should target midmarket opportunities before newer AI-focused players jump in.
Traditional IT providers are essential for helping businesses build solid AI foundations, something Big Tech alone can't do.