Huge revenue growth if Indian IT grows

Huge revenue growth if Indian IT grows
October 19, 2020 No Comments Business, City, Digital Marketing, Education, Finance, Information Technology, International, Jobs & Education, Law & Government, Life, Other, Relationship, Trends Priya Saha

India’s largest technology firms have had a surprisingly good pandemic. Infosys posted a sequential growth in revenue in rupee terms, buoyed by new large deals, and outperformed its peers for the second successive quarter. TCS, HCL Technologies and Wipro saw a sequential decline due to pandemic-related disruption, but all four reported operating profits ahead of the street’s expectations. In an interview to this newspaper, Infosys CEO Salil Parekh expressed confidence in going digital and cloud computing. When one company in any sector goes digital, others have to follow, just to stay in the reckoning. That means plenty of work for the IT industry as a whole. Overall, the prospects of India’s IT firms look bright, provided these companies move up the technology ladder swiftly because artificial intelligence will automate many kinds of work they perform.

These companies have been preparing, to varying degrees, for their own digital transformation and greater automation. More skilling, inorganic growth through acquisitions, an increase in the R&D spend to be better prepared for the pace of technology change, investing in startups and working closely with marquee clients on large projects in sectors that range from BFSI to manufacturing were considered blue-prints to stay afloat. This could be a challenge in the long run. Before artificial intelligence eats their lunch, Indian IT companies must themselves deploy artificial intelligence in their offerings. They have to alter their hiring, nurture and reskill talent internally and motivate people to develop and acquire new skills.

Digital transformation, the cloud, data analytics and the Internet of Things offer huge opportunities. The industry needs new skills and new ways of doing things so that companies can shift gears to higher productivity. Machine learning involves a lot of human labour, to begin with. Once that stage is over, machines and their algorithms can displace a whole lot of middling human skills. So, software engineers might need to learn new skills and unlearn old ones, to grab new opportunities.

About The Author
Priya Saha I am content writer at LoogleBiz -A Large Local Business Directory with over 5 years' experience in creating high-quality content for a range of clients. Writing clear marketing copy to awareness about products/services, Preparing well-structured drafts using Content Management Systems, Researching industry-related topics (combining online sources, interviews and studies), include conducting thorough research on industry-related topics, generating ideas for new content types and proofreading articles before publication. #Some qualities that I have - *Excellent command over English language. *Basic analytical skills. *An eye for details. *Ability to meet deadlines. *Ability to develop innovative and engaging content. *Being able to deliver under deadlines. *Excellent writing and editing skills in English *Good command over Microsoft Office tools like Word doc, Powerpoint etc.

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