.webp)
TCS, Infosys, HCL Tech and Salesforce dismiss stock declines as market overreaction to AI adoption.
During a panel discussion at the recently held AI Impact Summit for Businesses, executives from leading IT firms, such as TCS, Infosys, HCL Tech, and Salesforce, strongly disagreed with current concerns regarding the possibility that AI will make IT services and SaaS industries irrelevant. According to these leaders, most of them believe these companies will move into new growth areas because of their ability to handle the large amounts of data, which indicates where there are future opportunities.
Additionally, the leaders viewed the decline in stock value of their companies' shares that recently occurred as a direct response to what they considered an overreaction by the stock market, and instead, as a reason to show the potential signified by their companies' successes in the marketplace. When asked about AI coding tools being able to fully address customer pain points, Arundhati Bhattacharya (president & CEO Salesforce South Asia) said, "vibe coding tools cannot solve all of customer pain points." In this regard, she further reiterated that AI coding tools to solve customer problems were premature at this time.
Krithivasan, the Chief Executive Officer of TCS, discussed technology transitions, especially cloud computing, and how they can affect the labour market in five years. He stated, "We don’t foresee significant shrinkage in workforce size or headcount in the near future. Companies have a lot of work to do on their applications and data/tech assets to modernize them; and this is an ongoing challenge after companies move to cloud computing." There is still a lot of work to do relate to the implementation of cloud computing and many organizations will have many years of work related to modernizing their applications and optimizing their data estates after they adopt cloud technologies.
.webp)
.webp)
