The global IT services industry is at a significant crossroads, with the explosive growth of generative AI and deepening economic uncertainties reshaping its future.
Recent financial reports from major global IT services firms have highlighted a concerning slowdown in the industry that could persist, signaling potential changes to hiring and spending plans.
Cognizant Technology Solutions announced a full-year revenue forecast below expectations. Tata Consultancy Services experienced its slowest profit growth since 2020 in the December quarter, and Infosys failed to meet its quarterly profit expectations.
