Page 5 - Nasscom

Nasscom urges Karnataka govt to review the uniform taxi fare rules

Government of Karnataka, revised the fare structure applicable to taxis (both mobile application (app)-based and non-app-based city taxis)

BPO employees face maximum risk of getting replaced by AI: Nasscom chairman

Workers in the business process outsourcing (BPO) sector are at the maximum risk of getting impacted by the influx of generative artificial intelligence, IT industry body Nasscom's chairman Rajesh Nambiar has said. Nambiar, who is also the chairman and managing director of global technology major Cogniozant's India unit, said workers in the software services industry, the Indian tech industry's mainstay, do not have much to worry. "People who work on process related industry, which we traditionally used to call as BPO (business process outsourcing)... Some of that runs the risk of getting replaced with an AI engine pretty quickly," he said at a seminar organised in Pune over the weekend. He stressed that the USD 48.9 billion BPM (business process management) industry has evolved quite a bit from merely managing simple business processes. There are heightened concerns around the impact of AI on jobs, especially in the over USD 250 billion Indian tech sector which contributes ...

DPIs have potential to boost India's GDP growth 3x by 2030: Nasscom study

Digital Public Infrastructure (DPIs) is a set of common platforms or networks that is used to deliver citizen-centric services

Majority of Capgemini's 2 billion euros investment in AI coming to India

The other big focus of the investment for the firm is partnership and setting up CoEs. India has always been the centre point for the firm when it comes to CoEs. At present, the firm has over 100 CoEs

AI market in India to touch $17 billion by 2027: Nasscom-BCG report

India's AI market, growing at a compounded annual growth rate (CAGR) of 25-35 per cent is projected to reach USD 17-billion by 2027, according to a report. This growth is fueled by multiple factors including increasing enterprise tech spending, India's growing AI talent base and a significant increase in AI investments, the report titled "AI Powered Tech Services: A Roadmap for Future Ready Firms; AI & GenAI's Role in Turbocharging the Industry." The Nasscom report in partnership with BCG was released on Tuesday at the sidelines of the Nasscom Technology & Leadership Forum 2024 here. Globally, investments in AI have seen 24 per cent CAGR since 2019, with 2023 seeing close to USD 83-billion investment, it said. Majority of investments were made in data analytics, GenAI, and ML algos and platforms, as per the report. Notably, around 93 per cent of the investments made by Indian tech services and made-in-India product players focus on digital content, data analytics and supply ...

AI framework to be presented by July: MoS IT Rajeev Chandrasekhar

Chandrasekhar also added that there needs to be a more global consultative approach while coming out with regulations regarding AI

IT industry to grow 3.8% in FY24 to cross $250 billion, says Nasscom

FY24 growth coming at a slower pace, from a growth rate of 8.4% last year

Tech industry revenue to touch $254 billion this fiscal, says Nasscom

The domestic technology industry's revenue is projected to grow 3.8 per cent to USD 254 billion this fiscal, industry body Nasscom said on Friday. Excluding hardware, the revenue is expected to touch USD 199 billion, a growth of 3.3 per cent over FY23. The Engineering Research & Development (ER&D) sector alone contributed 48 per cent to the total export revenue addition in FY24, Nasscom said in its annual review. The projected 3.8 per cent growth is despite a 50 per cent slide in tech spending and 6 per cent decline in tech contracts in 2023 globally. This means the industry has added USD 9.3 billion incremental revenue in the fiscal, Nasscom said. It said despite reports of massive retrenchments, the industry added net 60,000 jobs, taking the total headcount to 5.43 million in the year.

77% of Gen Z students shows interest in technology industry: Report

The technology industry in India continues to draw Gen Z students with 77 per cent of them showing interest towards the sector, a report by Nasscom-Indeed said. Millennials and Gen Zs constitute around 90 per cent of the tech workforce in India enabling higher generational diversity and driving a shift in preferences. "Learning and Growth and Culture and Ethics are the top criteria for both Millennials and Gen Z when selecting an organisation, highlighting the employers' continued focus on skilling and upskilling to navigate the current work environment and develop their desired career paths," the Nasscom-Indeed Future of Work report 2024, which was released on Monday, said. "The technology industry in India continues to be the industry of choice for Gen Z students with 77 per cent... showing interest towards the industry," it said. The survey by Nasscom and Indeed involved 185 employers and over 2,500 individuals from current and future workforces. As much as 84 per cent of ...

Poaching Row: Nasscom chairperson Nambiar says no impact on industry

Amid employee poaching allegations levelled by two domestic IT firms, Nasscom Chairperson Rajesh Nambiar said the issue has not impacted the industry's business and operations. Nambiar refused to be drawn into specifics of the matter but said if companies want to enforce contracts they have with employees, "it is certainly their prerogative". He, however, said that there cannot be a broader industry-wide norm on non-poaching. "There is not going to be a broader industry-wide norm saying you can't hire from each other...because this industry was built by talent moving from one company to the other, so there should not be any issue in terms of having the right flow, as long as it is done within the broader framework of how the employment contracts work." The issue has not impacted Cognizant, he asserted, when asked if the pitched battle has affected the company. "It does not affect us at all. None of this has affected us. As in, if you are talking about Cognizant, I don't think ther

Former TCS executive director Phiroz Vandrevala passes away at 70

Vandrevala joined TCS in 1982 and served as a key part of the leadership team over the decades, including serving as Executive Director of the company between 2007-2016

Regulations, industry collaborations needed to fix deepfake issue: Nasscom

Tackling the deepfake issue will require regulations and close industry collaboration as there is no silver bullet for it, Nasscom Chairperson Rajesh Nambiar has said, terming it a "real concern", especially in a year when several countries are going for polls. In an interview with PTI, the Nasscom chief also talked about continued concerns over macro headwinds while pointing out that "green shoots" and "clear pockets" of demand emerging in areas like generative AI. Highlighting that technology has moved from being an enabler to being at the centre of every business, Nambiar, who is also chairman and managing director of Cognizant India, said companies will have no choice but to invest in technology going forward. Nambiar, who took over as the chairperson of apex IT industry body Nasscom in September 2023, termed deepfakes "a real concern". "Deepfakes are a real concern, especially when you look at half of the world's population going into elections in 2024. That is a big number, i

Future check for Indian startups: 70% see demand for AI solutions

Startups see investments coming for deep tech, a term used for businesses that develop new offerings based on tangible engineering innovation or scientific discoveries

60% of businesses in India embrace responsible AI practices: Nasscom

Responsible AI refers to the deployment and use of artificial intelligence technology in an ethical and safe manner

Indian businesses gearing up for responsible AI adoption: Nasscom

Nearly 60 per cent of businesses surveyed reported having either matured Responsible AI (RAI) practices and policies or having initiated formal steps towards adoption of such responsible practices, according to a report by industry body Nasscom. About 30 per cent reported having basic awareness of RAI imperatives without a formal strategy or framework, the report said citing the early insights on the state of RAI in India. Based on analysis of the data collected through a survey of over 500 senior executives from across large enterprises, SMEs and startups engaged in the commercial development and/or use of AI (Artificial Intelligence) in India, the report offers a glimpse into the beliefs and perceptions of the tech industry about its key strengths and areas for improvement when it comes to compliance with the benchmarks for RAI adoption. The rising need for RAI among AI users and stakeholders is compelling industry leaders to invest in advanced RAI tools and strategies while ...

Cognizant gears up to advance women in leadership with new programme

In India, nearly 40 per cent of Cognizant's associates are women, compared to the IT industry gender diversity average of 36 per cent

Govt gearing up to launch India AI Programme soon: Rajeev Chandrasekhar

The India AI programme will take the focus of the tech and startup ecosystem on real-life use cases in agriculture, security and governance, said the union minister at the Nasscom Future Forge event

Imaging satellites to AI healthcare: Nasscom recognises India's tech cos

The aim of these deep tech startups is to solve some of the world's most pressing challenges and address critical global issues

ER&D software firms navigate Q2 bends with growth arrows in sight

BCG and Nasscom's signposts point to 8-9% annual growth through 2030, India's share to take express lane

India's share to Global ER&D sourcing to rise to 22% by 2030: Report

Worldwide, ER&D spending is likely to grow at a rate of 8-9 per cent CAGR from 2023 to 2030 due to stability in the market