Category: In The News

The Last Word: Showcasing Uzbekistan’s IT potential | In the News

Rohitashwa Aggarwal, Partner at Everest Group, first started looking at Uzbekistan several years ago and its growing IT sector.

“When we look at firms operating in the UK, about a quarter make use of IT talent based in the UK, another quarter is based in Europe, another quarter in India, and the fourth quarter is based throughout the rest of the world,” he said.

Considering the wide range of incentives that Uzbekistan’s IT Park has to offer, it could be a viable alternative.

Read more in Emerging Europe.

Cognizant Ropes in JLL for Sale of Its World’s Largest Facility: Sources | In the News

Software services giant Cognizant has appointed real estate management firm JLL as an adviser to find buyers for leasehold land tied to its globally largest facility by area located in Chennai, according to three people familiar with the matter. The campuses sit on land spanning over 49 acres, having 16,500 seats, according to the company’s presentations done for green energy certifications.

It is an attempt “by Cognizant and other IT firms to decentralize their talent models to lower-cost locations,” said Peter Bendor-Samuel, CEO at research firm Everest Group.

Read more in Reuters.

10 Things Keeping IT Leaders Up at Night | In the News

The CIO’s rise to prominence has led to a wider array of high-profile responsibilities that — when coupled with the ever-increasing pace of technology and business change — bring more stress to the role than ever before.

“Every CIO is struggling, trying to get increased budgets,” adds Nitish Mittal, Partner at Everest Group.

Read more in CIO

Implementing AI in the Real World: What an Industrial Giant Learned Along the Way | In the News

Artificial intelligence is everywhere. Generative AI (genAI), of course, is supposed to change everything for everybody all the time. Yes, there is definitely a wave of almost unprecedented hype. But the gains are real, although the journey can be a rough one.

Amardeep Modi, Vice President at Everest Group, said AI has become intelligent automation. Functions such as the user experience, form development, conversational interface development, API automation, intelligent document processing, process mining, task mining, process design and execution, business rules management, and workforce management can all be enhanced with AI. AI is going to be implemented across every aspect of the network and across every IT system in the near future.

Read more in SDX Central

AI Developers, Led by OpenAI, Raise over US$50B | In the News

This month marks a year since the debut of OpenAI’s game-changing “generative AI” tool known as ChatGPT, whose explosive success has kicked off an AI investment race among big tech companies.

Some of the major AI-related venture capital deals with artificial intelligence technology providers have highlighted the strength of the fast-growing market, according to a recent report by research firm Everest Group.

Read more in CFO Dive.

 

IT Cos’ Mfg Vertical Bucks Gloomy Global Scenario | In the News

The manufacturing vertical has turned out to be a saving grace for India’s top five information technology companies so far in the current financial year, as the export-driven IT sector witnesses headwinds of a global slowdown.

“TCS has invested meaningfully in the digital twin and overall digital services capabilities for this (manufacturing) sector, that is helping it engage clients,” said Yugal Joshi, Partner at Everest Group.

Read more in Informist Media

IT Midcaps Witness BFSI-led Growth as Larger Peers Take a Hit | In the News

At a time when large IT companies are seeing BFSI (banking, financial services, and insurance) vertical-led softness, the same is aiding the growth of some midcap companies. The reason is that smaller IT firms cannibalize larger companies’ BFSI revenue.

Peter Bendor-Samuel, CEO of Everest Group, said, “Midcaps are going after a different part of the market — the regional banks. In general, the large firms have huge estates in the large banks and BFSI clients.”

Read more in Financial Express.

IT Companies up Stakes on GenAI as Clients Demand Integrated Solutions | In the News

IT companies, globally and in India, are betting big on generative artificial intelligence (GenAI) as clients are increasingly realizing the value of it and demanding solutions that are integrated with it.

“We see clients of IT companies getting 1-3% of their technology budget as a one-time war chest to experiment in GenAI, so there’s an opportunity for IT service providers to tap into this pool. We have already seen paid POCs commissioned by some clients with providers, so the time to act is now. Clients are convinced of the early impact of GenAI,” says Nitish Mittal, Partner – Technology, Everest Group.

Read more in Business Standard.

6 Most Underhyped Technologies in IT — Plus One That’s Not Dead Yet | In the News

AI has sucked all the air out of the room of late, but the tech that makes AI possible keeps the business humming and advances the core mission of IT, and the business too often goes overlooked, unused, and underfunded.

One of these technologies is cloud migration tools. Yugal Joshi, a Partner at Everest Group, lists cloud assessment tools as another underhyped and underused tech.

Read more in CIO.

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