A third of Mphasis' deal pipeline is AI-led: CEO
Mphasis, which on Thursday night reported a 2.1% increase in first-quarter net profit, is now seeing a third of its deal pipeline being led by artificial intelligence, chief executive Nitin Rakesh said.
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Mphasis reported a net profit of Rs 404 crore for the quarter ended June 30. Revenue from operations grew 0.2% sequentially and 4.6% from a year earlier to Rs 3,420.8 crore.
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Offering CollegeCourseWebsiteMIT xPROMIT Technology Leadership and InnovationVisitIndian School of BusinessISB Product ManagementVisitIIT DelhiCertificate Programme in Data Science & Machine LearningVisit“When deals are being formed, there is a healthy component of AI operations and AI infusion, elimination of manual work, reduction in volume, faster time to market … increasingly, we believe that almost every function in operations and tech will get AI infused,” Rakesh, also the company’s managing director, told ET on Friday.
From clients’ perspective, tech spends continue to be a priority, but it is getting reprioritised into areas that derive value, Rakesh said. “There is reallocation of spend on one side, and there is uncertain macro on the other side, and it’s also clear that the market for GenAI is much beyond just the tech, and much across the business spectrum—operations, customer experience, and others.”
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