The technology world is witnessing significant changes with the rapid adoption of AI (artificial intelligence) and GenAI (generative AI) powered applications and solutions. In an interview with the Data Biz Times, Rahul Nawab, President- Data & AI at Prowess Consulting said that many existing practices of the global IT services industry are undergoing changes. He, however, said that Indian IT firms will evolve to the new scenario in the global scene as they have done successfully through several previous transitions.
Does faster adoption of AI, leading to changes in deal sizes? Are enterprises holding back spend-related decisions? Can you give some perspective on this matter?
Deals are happening. We at Prowess Consulting have actually added several deals from Fortune 100 companies. But the deal construct is changing. We are definitely seeing a large amount of interest. Enterprises are very focused on the outcome now. So, it is leading to a shift from the traditional models. Deal sizes are beginning small with gradual ramp-ups.
Have AI & GenAI created more space for small and mid-tier IT service providers? What is your opinion about this matter?
Yes, it is better than two years back (due to faster adoption of AI solutions). A shift is happening from a business perspective, from a business expectation perspective and we are witnessing that. There is more openness to new players than it was earlier.
Are you collaborating with big IT firms?
We are collaborating. We are doing subcontracting work for the big four. So, we are engaged with several firms.
Will the pricing model change due to changes in the business models?
There are many changes happening to the usual way of doing business. You can see that hiring is less these days because predictability (on project win and ramp ups) is much less. So, the pricing model will definitely change. But it is still evolving. We have to understand that many IT firms may have to build products, accelerators and related things in the AI world. This is not the focus area of many IT firms. So, we have to see how they evolve in the coming days in the wake up the new reality.
We have seen fresher hiring coming down in the Indian IT industry. Many experts are warning about job losses happening owing to the shift in the business models. What is your opinion about this matter?
Obviously, there will be disruption. We don’t about the extent of disruption as yet. But, it is not that every company will perish. That is not the fact. Rather, many companies will evolve in this process. Similarly, will there be no demand for freshers? That is not the case. Definitely, skillsets required for entry-level jobs will definitely change. Freshers need to upskill themselves at a rapid pace than it used to be. Moreover, their ability to think and solve problems will determine their success. It is not enough only to learn specific programming languages. They have to evolve according to the demand for skillsets.
