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India poised to be the office of the world, says Cognizant CEO Ravi Kumar
Money Control
·
10m ago
Medial
- Cognizant CEO believes that AI will be a massive disruption that will create many new jobs. - India's services sector is diversifying rapidly and is on track to become the 'office of the world' in the next 25 years. - India's IT industry has transitioned from offering only IT services to now providing the entire spectrum. - AI-driven startups are expected to increase in the coming years due to India's rapid scale-up in technology. - The integration of AI into enterprises will result in a swift adoption curve, driven by natural language interfaces. - Access to jobs in the future will be determined by skills and entrepreneurial ability, rather than traditional education.
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Related News
India better poised for growth, leveraging artificial intelligence
Economic Times
·
1y ago
Medial
A panel of industry leaders including Bill Winters (CEO of Standard Chartered Bank) and Ravi Kumar S (CEO of Cognizant) believe that India's economy has the potential to become a global leader by leveraging technologies like artificial intelligence. They noted that India's strong and inclusive digital infrastructure, coupled with its entrepreneurial spirit, positions it advantageously in the disrupted world economy. However, they highlighted the need for further reforms and accelerated growth for India to reach comparable income levels with other economies.
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ETtech Q&A: I am the custodian of Cognizant, will do what is right for the company and its future; CEO Ravi Kumar
Economic Times
·
5m ago
Medial
Ravi Kumar, CEO of Cognizant, emphasizes his role as a custodian, focusing on the company's future amid legal challenges. Under his leadership, Cognizant has transitioned to growth, expanding capabilities in AI and infrastructure. Kumar highlights AI's impact on IT services, noting a shift from traditional cost-focused approaches to innovation-driven spending. Despite macroeconomic uncertainties, Cognizant aims to enhance AI integration, improve code development productivity, and explore new service areas, while maintaining a stable leadership team.
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After Cognizant, Tech Mahindra goes after former Infosys top talent
Livemint
·
10m ago
Medial
- A dozen former executives of Infosys have joined Tech Mahindra since March 2023, with three joining directly from Infosys and nine with prior experience at other companies. - Similarly, Nasdaq-listed Cognizant has experienced a similar exodus of executives from Infosys, with at least 10 joining after Ravi Kumar S. became CEO of Cognizant in January 2023. - Infosys reported its slowest growth since Salil Parekh became CEO in January 2018, with a full-year revenue growth of 1.9% to $18.6 billion for the year ended March 2024. - Tech Mahindra's revenue declined by 5% to end with $6.3 billion in FY24, while Cognizant saw a revenue slip of 0.39% to $19.4 billion in 2023. - The exodus can be attributed to the credentials and relationships built by the former Infosys executives, as well as the attractiveness of the leadership acumen of Ravi Kumar and Mohit Joshi. - The applicability of non-compete clauses in the IT services industry is still a work in progress, and organizations are taking steps to implement and enforce them.
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Cognizant appoints former Wipro finance chief Jatin Dalal as CFO
Livemint
·
1y ago
Medial
Cognizant Technology Solutions has named Jatin Dalal, former CFO of Wipro, as its new CFO. Dalal will assume the role in December, succeeding current CFO Jan Siegmund. This move comes as part of several high-profile executive changes in the Indian tech industry. Dalal brings over two decades of experience from Wipro, where he served as president and CFO. Cognizant CEO Ravi Kumar S expressed confidence in Dalal's ability to drive revenue growth for the company.
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AI will create more jobs for freshers: Cognizant CEO Ravi Kumar
Economic Times
·
1m ago
Medial
Cognizant CEO Ravi Kumar claims AI will generate more jobs for freshers, despite fears of job losses. He argues that AI lowers expertise requirements, enhancing productivity, especially for junior developers whose productivity rose by 37%. As AI tools proliferate, engineering roles will shift from coding to guiding AI agents. Kumar believes that rather than reducing jobs, AI's cost-efficiency will lead companies to expand operations, reflecting Google's Sundar Pichai's view on AI's role in meaningful work.
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Meet Indian IT industry's best paid CEO
Livemint
·
1y ago
Medial
Ravi Kumar Singisetti, CEO of Cognizant Technology Solutions Corp., received $22.56 million in compensation last year, making him the highest-paid Indian boss at a tech services company. The amount includes a one-time stock reward. Kumar's compensation is 0.11% of Cognizant's $19.35 billion revenue. Notably, Cognizant's revenue declined, and the company let go of 3,500 employees to improve profitability. Comparatively, other Indian IT services CEOs received lower proportions of their respective company's revenue as remuneration.
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Not working from office might lead to job loss, Cognizant tells employees
Livemint
·
1y ago
Medial
Cognizant employees who are refusing to return to the office may face termination, as the IT company becomes the first to use firing as a means to repopulate its offices. Workers who have not returned despite warnings have been told that their failure to comply will be considered serious misconduct, leading to disciplinary action including potential termination. Cognizant had previously asked employees in India to work in the office three days a week, and has implemented a system to track office hours and manage seat allocation. Other IT firms in India have also been pushing for employees to return to the office.
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Cognizant uses AI to free 12,000 roles, 14,000 employees to return
Inshorts
·
4m ago
Medial
Cognizant’s AI initiatives have automated 12,000 roles, boosting efficiency while prompting 14,000 former employees to rejoin. CEO Ravi Kumar highlighted how AI now writes 20% of code, enabling teams to do more with less. With over 2.3 lakh staff trained in AI, the company is redefining the future of IT workforce.
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Our investment in India will keep growing: IBM CEO Arvind Krishna
Economic Times
·
1y ago
Medial
AI adoption is steadily on the rise globally and India is well poised to lead the AI revolution and establish itself as an AI innovation garage of the world. The company has close to 100,000 employees in the country, with its facilities spread across the country, IBM CEO Arvind Krishna said.
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Kumar Venkatasubramanian appointed new CEO of P&G India
Thehindubusinessline
·
1y ago
Medial
Kumar Venkatasubramanian has been appointed as the CEO of P&G India, starting from May 1, 2024. With nearly 24 years of experience, Kumar has previously served in various roles within P&G, including leading the sales team in India until 2020. Currently, he is the CEO of P&G Australia and New Zealand. The outgoing CEO, LV Vaidyanathan, will be leaving the company after 28 years of service. Kumar's goal is to continue P&G India's growth momentum by focusing on daily use products and enhancing the brand's overall strategy.
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