Wipro, Microsoft to Launch GenAI-Powered Assistants for Financial Services
Leading technology services and consulting company Wipro announced that it is teaming up with Microsoft to...
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Leading technology services and consulting company Wipro announced that it is teaming up with Microsoft to...
The top three Indian IT firms -- Tata Consultancy Services (TCS), Infosys and Wipro -- collectively trained over 775,000 employees in generative AI (GenAI) capability by the end of 2023-24, according to an analysis of GenAI-trained workforce of leading companies in India in this sector. This number is significantly higher that the projection made by the IT industry body Nasscom in its Strategic Review of 2023, released in February this year. It said in 2023-2024, over 650,000 employees across the IT industry received training in Gen AI skills.
Kotak analysts say that India Inc has failed to deliver any significant positive surprises in Q4, which is in sharp contrast with the high expectations and valuations seen on the Street
Global hiring decline in 2023 impacted major IT companies like Cognizant and Capgemini. Indian IT firms also faced headcount reductions. Everest Group attributed layoffs to Covid over-hiring, while Gen AI influenced hiring decisions.
Anand James advises on Nifty IT index oversold zone pull back due to seasonality. Stocks like TCS, Infosys, Wipro, Tech Mahindra, Mphasis may lead the rebound. Watch for dead cat bounce risk, short covering rallies, and potential breakout signals in PSU stocks. James says: "Should Nifty Bank manage to push above 49100, one could brace for short covering rallies with eyes on 49500 in initially."