Coforge eyeing AI-driven sprint to $2 billion mark: CEO Sudhir Singh

economictimes.indiatimes.com:

Coforge would harness burgeoning global demand for artificial intelligence (AI) solutions to underpin its journey into the top tier of Indian outsourcing industry, seeking to double its annual revenue from the just-reached billion-dollar milestone and pull ahead of competition in a crowded mid-market. “We think AI represents a massive opportunity for us,” CEO and executive director Sudhir Singh told ET in an interview. “We need to transform into being an actual AI-first organisation, because the journey from two to five (billion) or two to ten (billion) becomes that much faster then,” he said.

The company, formerly known as NIIT, hit the $1-billion revenue milestone in April and is looking at AI to sprint to the next milestone of $2 billion and, eventually, $5 billion. Market demand has revived despite talk of tapering technology budgets in the West, Singh said, and while industry-wide strategy is similar, execution will be key to maintaining and adding to revenue share, with AI as a major piece. “Five years ago, we were all trying to talk about what portion of our revenue is digital.

I think going forward, you will hear everyone talk about AI,” he added. At about Rs 30,000 crore, the company's market capitalization trails those of Tata Elxsi, Mphasis or Persistent Systems, although the gap is narrowing. Coforge shares have surged nearly a quarter this year, while the Nifty IT index has climbed about 7% in this period.