Page 2 - It-software Sector

Microsoft chief executive officer Nadella touts promise of 'age of AI'

The US is the 2023 rotating host for events tied to the 21-member APEC group, which originated in a vision laid out by Australia in the late 1980

Changing business models of auto OEMs creating new opportunities: KPIT CFO

KPIT has recently revised its constant currency revenue growth outlook for 2023-24 (FY24) to over 37 per cent, up from the earlier guidance of 27-30 per cent

Kerala's Technopark records software exports worth Rs 11,630 cr for FY23

Kerala's pioneer IT hub Technopark here has reported a remarkable surge in software export revenue for the financial year 2022-23. The organization saw a substantial increase of Rs 1,855 crores in export revenue, registering a 19 per cent growth compared to the previous fiscal year, a statement said here on Wednesday. Also, the Technopark has consistently maintained an A+ stable rating from CRISIL (Credit Rating Information Service of India Limited) for the last three years, underscoring its robust financial performance and seamless transactions. The campus spread over 768.63 acres with 11.22 million sq. ft of built up space, currently hosts 72,000 employees across 486 companies. In the last financial year, 46 companies opened new IT/ITeS offices in Technopark and during that time, Technopark's software export revenue from 465 companies was Rs 9,775 crores, it said. This fiscal year it has reached Rs 11,630 crores, which is an excellent growth curve. Col Sanjeev Nair (Retd), CEO

TCS announces multi-year tech support deal with British retail firm Asda

Indian firm will build a new digital core to streamline Asda's supply chain forecasting, merchandising processes

Between manufacturing and services, can AI show India a third way to grow?

Even if generative artificial intelligence has been overhyped, it's safe to assume that ChatGPT-type bots will only get better at routine tasks like writing computer software

Salesforce CEO terms AI amazing; stresses on aspects of trust, values

Salesforce CEO Marc Benioff described advances in Artificial Intelligence as "amazing" and "incredible", while drawing attention to tenets of trust and value and outlining the company's commitment to building trusted AI platform for customer companies. Technology is moving faster than ever, right from cloud, to mobile, to social and "now a burst of AI" is "nothing like any of us have seen before", Benioff said at Salesforce's flagship event, Dreamforce. Benioff noted that business is the greatest platform for change, his keynote address filled with references to AI, and, in equal measure, on aspects of values and trust. He emphasised on Salesforce's tenets of trusted, ethical and humane AI. "It is amazing what is happening with AI. It is incredible what is going on," said the top honcho of the world's third largest software company, whose revenue in FY23 stood at USD 31.4 billion dollars. "Technology is also moving faster than ever. We have seen over and over again from cloud to ..

Generative AI in Manufacturing : A transformational alliance

The manufacturing industry in Bharat can attempt to deploy basic AI / ML techniques far more creatively than it does today

Why small and microcaps are rocketing

The question on everyone's mind is, will this be sustainable? The answer is not simple

Software firm Hexaware announces 100-120% variable pay to all employees

Software services firm Hexaware Technologies Wednesday announced up to 120 per cent variable pay to its more than 28,500 employees. The payout ranges from 100 per cent to all employees and up to 120 per cent for high performers who have shown exceptional performance for two years, the city-based company said in a statement. Of its 28,500 employees, as many as 20,000 are based in India. Despite the prevailing economic volatility where companies have put hiring on hold, Hexaware has committed to on-board around 6,000 experienced professionals this year, it said. While the entire software industry is facing high attrition levels, the company claimed that its employee retention has seen a significant leap, jumping from 68 per cent in 2021 to 73 per cent in 2022. In 2022, Hexaware's revenues grew over 25 per cent in constant currency terms. The company is confident of maintaining this growth pace in 2023 in spite of the anticipated macroeconomic headwinds. Chief operating officer Vin

Planview eyes India's digital transformation may reach $85 bn by 2026

US-based firm would invest more than $125 million into headcount and centre operating expenses over the course of the next four years in India

Newgen confident of 20% topline growth; plans to hire 400-500 people

IT company Newgen Software Technologies is "confident" of about 20 per cent topline growth for FY24, backed by resilience of its focus markets like India and Asia Pacific which are growth drivers, a top official said. The company is looking at hiring about 400-500 people from campuses this year to meet its business requirements, having fulfilled its commitment of timely onboarding of campus recruits last year, Virender Jeet, CEO of Newgen Software, told PTI. Unlike many IT services companies that are facing macro headwinds in their primary markets of US and Europe, Newgen focuses on emerging markets, which offer plenty of headroom for growth, are underserviced and keen to bolster their digital play. "Our investments largely happen in research and development, and sales, and we will continue that momentum. We are not looking at holding back any investments this year," he said. For the quarter ended June, Newgen's revenue from operations stood at Rs 251.7 crore, up 34 per cent over t

Infosys signs 5-year AI deal worth nearly $2 bn with existing client

In May, Infosys launched Topaz, a comprehensive suite of services, solutions, and platforms that harness the power of generative AI technologies

5% rise in non-tech white-collar jobs in June, no respite for IT sector

While the core sector showed a positive sentiment, hiring in the country's IT services sector fell to its lowest level since December 2020

Oracle lays off hundreds of employees at its health unit Cerner: Report

In May, another media report said that Oracle had laid off 3,000 employees at Cerner

IT stocks witness fresh turbulence; posts biggest decline in nearly 2 mths

Software firm EPAM's guidance cut fresh trigger; underscores weak discretionary spending, say analysts

Software firm F5 to lay off 623 employees amid macroeconomic uncertainty

US-based software company F5 has announced to lay off 9 per cent of its workforce or about 623 employees globally amid macroeconomic uncertainty

Indian software industry expected to reach $100 bn by 2025: Anurag Thakur

Union Minister for Information and Broadcasting and Youth Affairs and Sports Anurag Thakur on Friday asserted that the Indian software product industry is expected to reach USD 100 billion by 2025

GitHub fires its entire India engineering team, over 140 employees hit

Open source developer platform GitHub has laid off its entire engineering team in India, its second largest developer community after the US

India team an incubator for Kyndryl's apps, data and AI: Nicolas Sekkaki

"Everything we think about, we can test in India, learn from it, and also help our domestic market to grow, because we have some new skills"

Tono-Bungay enterprise

Today, as in the days of HG Wells, the dilemma that society faces is one of the need for aggressive entrepreneurs, but not entrepreneurs who undertake spiralling risks, unfettered by ethics or nous.