Gartner Financial News

Wipro saw a fall in their combined workforce by almost 64,000 in FY24. While data points to improving demand, companies remain cautious on hiring. Wipro is fulfilling its previous hiring commitments.

Infosys, which has the highest Nifty weighting among locally listed technology companies, Thursday said fourth-quarter net profit climbed 30% on gains in non-core income, beating D-Street estimates. Revenue guidance for FY25, a key monitorable for investors, remained conspicuously circumspect, although India's outsourcing bellwether announced its biggest M&A deal in history, commiting nearly about half a billion dollars. Profit climbed to ₹7,969 crore in the March quarter, beating ET's poll of ₹6,103 crore. Other income buttressed the bottom-line through what turned out to be a tough year for revenue expansion, which hit the lowest pace in a decade. Headcount shrank by about 26,000, again a rarity for India's technology bellwether.

Battery electric vehicles will be, on average, cheaper to produce than a comparable internal combustion engine by 2027 thanks to new manufacturing methods that are lowering production costs, market research firm Gartner said on Thursday. Gartner expects production costs to drop considerably faster than the costs of batteries, which are the most expensive part of an EV and account for around 40% of the vehicle's price. Gartner said its analysis was driven by «innovations that simplify production costs such as centralized vehicle architecture or the introduction of gigacastings that help reduce manufacturing cost and assembly time.»

security and risk management (SRM) in India is estimated to be $2.9 billion in 2024, up 12.4% from 2023, showed the latest forecast from Gartner. The expected increase comes at a time when organisations are ramping up security spending due to legacy IT modernisation using cloud technology, demand for digital platforms, updated regulatory environment and continuing remote/hybrid work. “In 2024, chief information and security officers (CISOs) in India will prioritise their spending on SRM to improve organisational resilience and compliance,” said Shailendra Upadhyay, senior principal, Gartner. “With the introduction of stringent government measures mandating security breach reporting and digital data protection, CISOs are facing heightened responsibility in safeguarding critical assets against evolving cyber threats.”

By Josh Ye

Wipro Ltd on Wednesday disclosed a new deal with US chipmaker, Intel Foundry. The deal with the chip development division of Intel will further see Wipro engineers work on Intel’s latest ‘18A’ chip node that will be used in cutting-edge consumer electronics devices next year onward. Though Wipro did not disclose the exact size of the deal, two senior industry consultants said under conditions of anonymity that the deal with Intel Foundry is expected to be one of Wipro’s largest deal signings in the past three years.

VTEX (NYSE: VTEX), the composable and complete commerce platform for premier B2C and B2B brands, has been recognized as the only vendor in the 2024 Gartner® Voice of the Customer for Digital Commerce to be named in the Customers Choice Quadrant. The recognized vendors meet or exceed the market average Overall Experience and User Interest and Adoption.

Lots of people log in to social media every day. Fewer and fewer are actually posting. Isaiah Hug spends roughly two hours a day scrolling through Instagram, but his last post to his main feed was over a year ago.

ChatGPT was the catalyst for a year that took artificial intelligence mainstream

(Reuters) -Cybersecurity firm SentinelOne (NYSE:S) on Tuesday forecast third-quarter revenue above Wall Street estimates and raised its annual revenue outlook, as cybersecurity spending remains strong.

Investing.com — US stock futures decreased slightly during Thursday's overnight trading, after the Dow Jones Industrial Average reached a new peak for 2023 and wrapping up its best month in over a year.

Snowflake forecast quarterly product revenue above estimates on Wednesday, as increasing adoption of artificial intelligence boosted demand for its data cloud offerings. Shares of the Bozeman, Montana-based company surged nearly 7% in after-hours trading.

(Reuters) — Snowflake (NYSE:SNOW) forecast quarterly product revenue above estimates on Wednesday, as increasing adoption of artificial intelligence boosted demand for its data cloud offerings.

India’s information technology (IT) spending is expected to rise by 10.7% to reach $124.6 billion in 2024 from a year ago driven majority jump in investments in software, IT services and devices, according to the latest forecast by research and consulting services firm Gartner. In 2023, the IT spending was in the negative at minus 0.5% growth with spending at $112.5 billion.

“Telecom players want to transform internally to meet consumer & enterprise demand for reliable digital services but challenges with complex systems, inorganic growth, disparate operations, and siloed functions impede transformation. The need for a Telecom-Native, 360-degree partner to drive holistic outcomes across IT, digital, operations, network, and data is paramount. We believe this recognition by Gartner reaffirms Prodapt’s proven expertise in delivering these for telcos," said Harsha Kumar, CEO of Prodapt. “CSP CIOs and other technology leaders should identify more-relevant IT service providers, in sourcing for new projects and initiatives, by checking their service and capability focus areas, strength of industry prioritization, regional relevance, company size, and DNA," says analyst Jouni Forsman in the Gartner report. Prodapt’s clients include the largest global CSPs, hyperscalers, Network Equipment Providers, and technology enterprises including social media, search platforms, and digital-native companies.

In 2021, the Texas-to-New York Colonial Pipeline suffered a ransomware attack. The pipeline carries 55% of the gasoline, diesel and jet fuel consumed on the US East Coast. It resumed only after a $4.4 million ransom was paid in bitcoins in exchange for a decryption tool.

Co-working spaces have revolutionised the modern work environment, providing freelancers, SMEs (small and medium enterprises), and startups with a fixed base where they can thrive and be a significant part of the business ecosystem. According to a report by Mordor Intelligence, the current co-working market in India is worth USD 1.78 billion. This showcases a surge in demand for flexible and collaborative working environments.

OpenAI, and stave off competition from chipmakers like Intel and AMD. While Microsoft’s Azure Maia AI Accelerator has been optimized for AI- and generative AI-specific tasks, its Azure Cobalt CPU (central processing unit) is an Arm-based processor that will cater to general-purpose tasks on Microsoft Cloud. Microsoft has reportedly been working on developing an AI chip since 2019.

The immense amount of energy needed to power generative artificial intelligence models, like the one behind ChatGPT, is creating a new market for data centers that run on alternative energy sources. Supply of electricity, which currently powers the vast majority of data centers, is already strained from existing demands on the country’s electric grids.

AI hallucinations’, which could result in loss of business, threat to life, and increased costs, amidst increasing adoption of artificial intelligence, experts said. AI hallucination refers to when artificial intelligence produces content or choices that are inaccurate, prejudiced, or unsuitable. In such an occurrence, the AI produces information and behaviours that veer significantly from reality.

fire employees who don’t come in at least three days every week. This puts middle managers at Amazon, long known for its “churn and burn" approach to managing its workforce, in an impossible position. Sack people who aren’t coming in—but who might be doing a very good job from home and could be difficult to replace—or risk their own futures if they do not boost attendance rates.