Category: In The News

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.

Everest Group Outlines Top Priorities in 2024 | In the News

2024 will be the year of doing more with less, according to the results of the Everest Group 2024 Key Issues Study of enterprise executives.

“Enterprise leaders in our 2024 Key Issues Study are focused on lowering costs and increasing profitability and will be placing high expectations on service providers with little room for rate increases,” said Hrishi Raj Agarwalla, Vice President at Everest Group.

Read more in FutureIoT.

Accenture’s $450-Million Gen AI Pipeline Is More than the Top 10 Indian IT Companies’ Combined | In the News

At present, the top 10 Indian IT service companies together have around 450 gen AI projects and PoCs in the pipeline, according to data accessed by Moneycontrol from market intelligence firm UnearthInsight. In contrast, global rival Accenture alone as of its first quarter (it follows a September-August financial year) has a pipeline worth $450 million and an estimated 450 projects and PoCs.

Peter Bendor-Samuel said that till date the revenue generated for services firms from Gen AI has been modest. He doesn’t view the $450-million pipeline from Accenture as indicative that it will be ultimately able to unleash a gusher of revenue from generative AI.

Read more in Money Control.

CIOs Rise to the ESG Reporting Challenge | In the News

Environmental, social, and governance (ESG) reporting is proving to be a complex endeavor founded in data. And that’s putting CIOs at the center of these increasingly important initiatives.

CIOs — who sign nearly half of all net-zero services deals with top providers, according to Everest Group analyst Meenakshi Narayanan — are uniquely positioned to spearhead data-enabled transformation for ESG reporting given their data-driven track records.

Read more in CIO.

It’s Too Early to Expect Gen AI-led Revenues | In the News

The much-anticipated boom from gen AI looks like it will not appear at least in any significant way in 2024 in revenue terms. A significant troubling trend is that the tech services spending, which is normally 4-8 times the spending of the other tech, is not appearing in gen AI. This may change over time, but it is highly disappointing for the tech services firms at this time, Peter Bendor Samuel, CEO, Everest Group, tells Bizz Buzz

Read more in BizzBuzz

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