Category: In The News

Is the Metaverse Dead? Here’s What Happened and What’s Next | In the News

Recently, the buzz about the metaverse, or at least about the term, has died down. There are numerous causes, including Meta’s slow progress, a crash in the non-fungible token (NFT) market, and more.

Parul Trivedi, Practice Director at Everest Group, said that the vision of a fully immersive, universally adopted virtual realm where users interact seamlessly in virtual and augmented realities faces real-world challenges.

Read more in Tech Target.

Client Base at Mid-Tier IT Cos Remains Intact | In the News

Mid-tier IT firms are able to sustain their client base in a tough economic environment, and are not losing out to the vendor consolidation that usually kicks up during a slowdown in the IT sector. Experts are of the opinion that once demand comes back, mid-tier IT firms will be the first ones to see growth revival on the back of a higher number of digital deals.

“There are some early indications that we may start to see some level of recovery in the late second quarter and building after that. Much depends on the greater macro environment and if the soft landing of the economy happens,” Peter Bendor Samuel, CEO of Everest Group, told Bizz Buzz.

Read more in Bizz Buzz.


Jack Madrid Sees Gen AI as Game-changer for IT-BPM Industry, Focuses on Upskilling

The Philippines sees generative AI as a game-changer for its booming information technology and business process management (IT-BPM) industry but acknowledges the need to upskill its workforce to adapt. The IT & Business Process Association of the Philippines (IBPAP) prioritizes proactive upskilling and reskilling for its workforce.

The association also plans to revisit its 2028 roadmap targets with research partner Everest Group to account for the evolving landscape.

Read more in Bilyonaryo.

IBPAP to Refresh 2028 Roadmap amid Gen AI’s Adoption | In the News

The Information Technology & Business Process Association (IBPAP) is updating its 2028 industry roadmap to align its goals with the ongoing expansion of the artificial intelligence (AI) landscape.

IBPAP, in a statement, said it is collaborating with leading research firm Everest Group in refreshing the industry roadmap and introducing an ambitious version for 2028.

Read more in SunStar.

Quiet French Revolution in IT Services? | In the News

A quiet French Revolution is brewing in IT services, though it may not last long. Even as most leading companies in the sector are seeing a big decline in growth rate, France’s Capgemini is seeing relatively better growth rate.

According to Peter Bendor-Samuel, CEO of Everest Group, Capgemini’s better performance can be attributed to its concentration in Europe as a geography, which has performed better than the US and also has a better market-leading position in engineering services.

Read more in the Times of India.

Recession in UK, Japan May Hit Indian IT Sector | In the News

Despite the recession in the UK economy, large cost takeout deals are likely to flow unabated for the next two quarters though discretionary spend by clients will remain under check.

“We believe that there is still some way to go for modernization in the UK and EU and that these markets are also more receptive to cost-takeout mega deals. Hence, we see the current market conditions of more cost takeout and large deals to continue for at least two quarters,” Peter Bendor Samuel, CEO of Everest Group, told Bizz Buzz.

Read more in Bizz Buzz.

What Insurers Need in Order to Win in 2024 | In the News

The world is facing increased risk and uncertainty today, which means that the need for protection has increased for individuals as well as for corporations. This also means insurers can charge higher premiums for their products. Read on to find out three ways insurers can differentiate on customer experience and win in 2024 in this article co-written by Manu Aggarwal, Partner in Everest Group’s Business Process Services practice.

Read more in Insurance NewsNet.

Nearly 75% of Enterprises Pivoted to Text-based Generative AI to Improve Operational Efficiency | In the News

Over 45% of enterprises identify the lack of internal technical expertise as a major barrier to generative AI implementation.

According to the recent Generative AI in CXM Survey Report by Everest Group and WNS, 75% of enterprises are elevating their business strategies by piloting, deploying, or scaling up text-based generative AI solutions, followed by 62% for code generation and 52% for image generation.

Read more in Analytics India.

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