India’s largest technology services company is pushing its workforce to embrace artificial intelligence tools, even though doing so might cut into the firm’s bottom line, according to the company’s top executive.
K Krithivasan, chief executive of Tata Consultancy Services, made the remarks Wednesday during a technology conference in Mumbai as concerns grow about AI’s impact on India’s tech industry.
“We are telling associates that if you find that you can do something faster, better, cheaper with AI, you should probably go and tell your customers, even if it cannibalises revenue,” Krithivasan stated at the Nasscom Technology and Leadership Forum.
The executive expressed confidence that artificial intelligence will create opportunities rather than eliminate jobs in the sector.
“We are not afraid this technology will take away our livelihood. We believe it is going to open up more, so you enjoy the benefits the more you do, and not by resisting the change,” he explained.
This approach aligns with competitor Wipro’s strategy, as that company also anticipates AI adoption will increase demand for software services rather than reduce it. Wipro’s Chief Strategist and Technology Officer Hari Shetty has predicted artificial intelligence will generate more employment opportunities than it eliminates.
The tech sector in India has faced significant market pressure recently, with investor worries about AI disrupting the industry’s traditional labor-intensive business model. India’s technology stock index has dropped 21% through Tuesday this month, marking what could be its worst monthly decline in nearly two decades. The selloff has erased approximately $68.6 billion in market value during February alone.
