Icra says Indian IT cos’ Gen-AI deals to pick up over the medium term

Although the revenue contribution from Generative (Gen) AI deals for IT services companies is currently limited, the rating agency Icra believes it will increase over the medium term as technology adoption becomes more widespread.

“Higher adoption of Gen-AI remains a key monitorable for the industry, over the medium to long term. Leading Indian IT services companies have trained a sizable portion of their employee base in Gen-AI skills and have already started ramping up their capability and service offerings, to deliver AI-based solutions to their clients,” it said.