The future of the information technology industry is set to be heavily influenced by advancements in artificial intelligence and machine learning, according to Infosys Ltd. Co-founder Kris Gopalakrishnan.
In an interview with NDTV Profit, Gopalakrishnan highlighted the key challenge lies in how the IT industry will leverage these technologies and integrate them into the services they provide.
“Right now, the IT industry is undergoing a refresh, as it tries to figure out the impact of AI and ML. In the short term probably, this will have an impact, and that's what you see,” he said.
This focus on AI and ML comes at a time when the industry is experiencing slower growth and reduced recruitment, said Gopalakrishnan. “Growth probably will be muted (this year),” he said, pegging it between 4%-8%. However, he was optimistic about the industry's medium- to long-term trajectory.
“This industry has grown every single year for the past 40 years, and it continues to recruit. NASSCOM has given a projection that the industry will recruit about 60,000 people this year. Though it's down from previous years, at least it is recruiting and the industry will do very well in the long term,” he emphasised.
Commenting on the transparency of the industry's business models and government assessments, Gopalakrishnan called for more understanding and collaboration between the industry and the government.
“Clearly, there should be more clarity. These models will have to be explained to the government, and the government will need to develop proper ways to assess these companies and their business models,” he said. He expressed confidence that industry bodies like CII and NASSCOM would engage with the government to find a solution.
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