Genpact will book ‘record deals’ in first two quarters of FY23, says CEO NV Tyagarajan
large contracts coming up for bidding, which accelerated in the December quarter, continued and led Genpact to book «record deals» in the first two quarters of 2023, NV (Tiger) Tyagarajan, chief executive at the US-headquartered business process management firm, told ET.
The London-based executive said the company’s data-tech-artificial intelligence segment, which accounts for 45% of total revenue, will make up half of its revenue by 2026. Almost 100% of Genpact's client conversations in the last few months have been converted into engagements where generative AI (GenAI) is being used in their regular operations, he added.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in Digital MarketingVisitIndian School of BusinessISB Product ManagementVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitIndian School of BusinessISB Digital TransformationVisitThe record deals are a «unique opportunity» yet cost reduction remains an important agenda for clients, he said.
“There doesn't seem to be much worry about recession than before but the interest rates, mortgage rates and energy bills have gone up. Therefore, all the leadership teams (of clients) are focussing on cost,” he said.
Focus on GenAI
He said application of genAI which involves customer-engagement — be it involved in sales, helpdesk, collection or services — is a top use case of the emerging technology.
“Everyone is talking about GenAI and how to use it … we have about a 100 proof of concepts going on. When we launched our internal hackathon in April, we had around 9,000 ideas,” he added.
The addressable market for the IT sector is set to increase, as
