BENGALURU: IT services companies are betting big on Generative AI as there is a growing demand among clients on the emerging technology.
Accenture recently announced its second quarter results and it saw Generative AI new bookings of over $600 million in the quarter for a total of $1.1 billion through the first half of the fiscal year.
Julie Sweet, chair and CEO of Accenture, said: “We extended our early lead in generative AI with $1.1 billion in new bookings in the first half of the year. We are investing to serve our clients’ needs and expand our growth opportunities with $2.9 billion of capital deployed in the first half in strategic acquisitions.”
As the investments in AI continue to increase, the demand for AI talent in India is expected to grow at a CAGR of 15% till 2027. According to reports, India’s AI market is growing at a CAGR 25-35% and is projected to reach about $17 billion by 2027.