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In The News

Automation Unlikely to Dent IT Services Jobs | In the News

By | In The News

India’s IT services industry is unlikely to see significant job losses due to automation, at a time when only seven out of 100 tasks at tech services and business process management firms are automated, according to companies in the Robotic Process Automation (RPA) space.

“We may see some need for retraining, and those people unwilling or unable to be retrained may lose their jobs. However, as the new jobs carry higher wages, we see most employees eager to make the transition. When we combine this with a shortage of talent onshore offsetting the desire to relocate work offshore, we do not expect significant job loss in the near future,” said Peter Bendor-Samuel, chief executive officer, Everest Group, a Silicon-Valley based IT advisory firm.

Read more in Economic Times

 

Global In-House Centres Make Growth Difficult for India’s It Outsourcing Industry | In the News

By | In The News

Over the last few years, about 35-40 percent of the outsourcing work has moved to GICs, and “this is a continuous process”, said Harish Pillai, vice-president and country head at Randstad Sourceright India, a talent management solution provider.

GICs, traditionally referred to as captive or contact centres, are typically offshore units that emerged during the 1990s as large companies, such as GE, Texas Instruments, Citigroup and American Express, began embracing the model to perform designated operations, mostly related to technology. According to an Everest Group report, GICs account for about 25 percent of the global offshore services market.

Read more in Money Control

Everest Group Shows How Banks Can Leverage Technology To Deliver Superior Banking Experiences | In the News

By | In The News

Banking is in dire need of transformation. Some banks get it, others are destined to be left behind. For innovation in banking, look to challengers like Apple with its new Apple Card and “neobanks” like Monzo. Although the threats are real, “traditional” and “large” banks are *not* sitting ducks.

Everest Group has developed a report, “Handbook on Building SUPER Banking Experiences: Case Study and Examples from 40 Global Banks.” The report is based on an analysis of the investments made by 40 of the world’s largest banks and more than 430 use cases in creating superior customer experiences, and it confirms there’s hope for incumbents to thrive amid digital disruption.

Read more on FinanceTnT

 

IT Outsourcing Sector Faces Heat from Global In-House Units | In the News

By | In The News

GICs, traditionally referred to as captive or contact centres, are typically offshore units that emerged during the 1990s as large companies, such as GE, Texas Instruments, Citigroup and American Express, began embracing the model to perform designated operations, mostly related to technology. According to an Everest Group report, GICs account for about 25% of the global offshore services market.

Read more in Livemint

Edge Computing Architecture Takes on a Partner Ecosystem | In the News

By | In The News

Experts believe edge computing will bring significant change to organizational IT infrastructure, but how? Read on to learn more about the rapid growing interest in the architecture.

Yugal Joshi, vice president of information technology services at the Everest Group, a management consulting and research firm, said his company defines edge computing as “an enabling set of technologies that move data storage, computing and networking closer to the point of data generation/consumption and away from a centralized computing location.”

“It’s not a device, it’s a location, and it typically means the edge of a network,” Joshi said. “Edge at the end of the day is an architectural choice.”

Read more in TechTarget

The Five Commandments of Successful Artificial Intelligence Adoption | In the News

By | In The News

Artificial Intelligence (AI) has been around for decades but its hype and adoption have grown exponentially in the past few years as organizations recognize its value as a competitive differentiator and value creator. However, while interest and investment are high, AI is far from pervasive in most enterprises’ business strategies – in fact, more than 80% of enterprise executives told us that they were unable to adopt AI at scale or achieve any significant business outcomes. Drawing from our experience working with leading technology companies such as Google, Microsoft, and AWS, as well as other non-technology firms that have successfully adopted AI, we’ve identified five commandants to successful AI adoption.

Read more in Intelligent Sourcing

How the American Dream Is Souring for Many Indian IT Workers | In the News

By | In The News

Ten years after he first entered the United States, Amit Sharma (name changed) is watching his American dream come to an end. The software engineer for a large technology outsourcer went to America in June 2009 on a coveted H-1B visa to work onsite with a large energy utility, expecting to spend perhaps three years on this assignment.

“The immigration climate has worsened,” says Peter Bendor-Samuel, CEO of Everest Group, a leading outsourcing advisory. “The current administration has not only restricted the number of H-1Bs, (but) also dramatically increased scrutiny of the applications process.”

Read more in Economic Times

RPA: Resuscitation of Process Automation? | In the News

By | In The News

RPA uses software robots to automate repetitive tasks that humans really don’t need to do. They free up creativity in the enterprise.

According to the 2018 Robotic Process Automation Annual Report by Everest Group Research, the global RPA independent technology vendor market grew by about 92 to 97 percent in 2017 and is expected to grow between 75 and 90 percent annually through this year. Gartner Research says the worldwide RPA software market grew 63 percent in 2018, and RPA software revenue will reach $1.3 billion this year. According to Forrester Research, the market could reach $1 billion in revenue by the end of this year.

Read more in Network Computing

Indian Startups Hope for a Boost in Investment after Angel Tax Relief | In the News

By | In The News

The Narendra Modi government has taken yet another step to provide some Indian startups a relief from the widely criticised angel tax, and entrepreneurs are now hoping for a funding boost.

Angel investment is crucial for startups as most of them are loss-making and cannot list themselves on Indian stock exchanges, which allow only profitable companies to scout for public investment, said Yugal Joshi, vice-president at consulting firm Everest Group.

Read more in Quartz

Get the Robot Help You Deserve | In the News

By | In The News

If you hadn’t noticed, these days it’s all about the robots, or more specifically Robotic Process Automation – applying software to repetitive tasks to free up our time.

And back to the all-important bottom line. One thing that many adopters of RPA report is the rapid and substantial returns on investment it can deliver. One study from the Everest Group, for example, found that the average company could expect to double its investment in initial returns, rising to a multiple of four for the top performers.

Read more in UCToday