GenAI will generate an economic value of $2.6-4.4 trillion annually, the report said. Of this, 75% will be concentrated in areas that form core service lines for the technology service providers, including software engineering, customer operations, product and R&D, and sales and marketing.
New Delhi: The Indian IT industry is expected to see moderate revenue growth of 3 to 5 per cent in FY2024, lower than 9.2 per cent (year-on-year) growth
“Customers used to give the big bank projects to one particular IT vendor and that is not happening in the past few years. While that has been broken down into smaller projects and that is partly a reason why growth is slowing down. The BFSI sector is also slowing down a bit in the US and Europe, given the high interest rates.”