AI won’t shrink IT demand, sector fears overdone: Sanjiv Puri, MD at ITC

ITC managing director Sanjiv Puri on Wednesday described the recent decline in the Nifty IT index as an overreaction, pushing back against concerns that artificial intelligence could structurally weaken demand for IT services.

Addressing fears that AI-led efficiency gains may compress revenues for IT companies, Puri said that past technological shifts have consistently expanded economic activity rather than shrinking it. New technologies, he said, tend to raise productivity while opening up new opportunities and business models.