The global consulting and technology services firm Capgemini shared that the company’s leadership in AI services is well recognised by industry analysts. And generative AI continues to drive client discussions, leading to larger-scale deployment projects.
Capgemini is currently engaged in over 350 new projects, with more than 2,000 deals in the pipeline. The company has also scaled its capabilities by training over 120,000 employees on generative AI tools and continues to invest in related tools, assets, and platforms.
Capgemini generated revenues of €11,138 million in H1 2024, reflecting a year-on-year decrease of 2.5% on a reported basis and 2.6% at constant exchange rates. Despite this decline, the demand environment shows signs of gradual improvement.
Following a challenging first quarter, revenue growth rates improved in the second quarter across all business segments and nearly all regions and sectors. Group revenues in Q2 contracted by 1.9% at constant exchange rates and 2.3% on an organic basis.
In the first half of the year, clients focused on enhancing efficiency through cost transformation programs, with continued demand for non-strategic discretionary deals. However, Capgemini’s cutting-edge services in the Cloud, Data & AI, and the Intelligent Industry maintained solid traction.
Accenture is Here too
Accenture announced over $900 million in new bookings for generative AI, reaching a total of $2 billion fiscal year-to-date during its Q3 FY24 earnings report.
“We have achieved two significant milestones this quarter — with $2 billion in generative AI sales year-to-date and $500 million in revenue year-to-date — demonstrating our early lead in this critical technology,” the company said in a statement.
“We also continue to steadily increase our data and AI workforce, reaching approximately 55,000 skilled data and AI practitioners, against our goal of doubling our data and AI workforce from 40,000 to 80,000 by the end of FY2026,” said Accenture CEO Julie Sweet during the earnings call.
Meanwhile, Indian IT majors like TCS have doubled up on its AI game. The IT giant announced that it is doubling its AI pipeline to $1.5 billion this quarter, from the $900 million pipeline reported in the previous one.
TCS is now also working on around 270 AI projects worldwide. Moreover, in Q1 FY25, it applied for 154 patents and was granted 277, as revealed by TCS chief K Krithivasan. Regardless, Krithivasan said that TCS is still only experimenting with generative AI, admitting that deriving business value would take
Even Infosys has emphasised its dedication to generative AI in its latest Q1 FY25 results, but not revealed the numbers.
“We continue to see strong traction from our clients for generative AI programs delivered through Topaz. Enterprises are focusing on leveraging their own datasets for use in generative AI and large language models, which are creating a significant impact for them,” said Salil Parekh, CEO and MD of Infosys.
In Q1 FY25 earnings, Indian IT company, Wipro mentioned that it has achieved a significant win in the automotive manufacturing segment, where a US-based OEM selected the company to streamline global infrastructure services using automation and AI for improved user experience and reduced costs.
Wipro’s AI Game
Wipro is focusing on AI-powered solutions through a consulting-led approach to transform clients’ business models. Recent wins include a project with a US-based health solutions company to integrate CMS guidelines into billing, and a collaboration with a North American financial services company to develop a GenAI-powered assistant for wealth management.
Wipro is also dedicated to building talent, having provided foundational AI training to over 225,000 employees and advanced training to an additional 30,000. Utilising its in-house AI expertise, it is developing GenAI solutions across all units and functions, aiming to boost employee capabilities and make the company GenAI-ready.
Further, the company is driving innovation and enhancing productivity through investments in the Lab 45 AI platform and Wipro Enterprise GenAI Studio, incorporating various GenAI tools into the software development lifecycle.
Well, HCL continues to see numerous opportunities in AI and generative AI (GenAI) business trends. They launched HCLTech AI Force, a generative AI and automation platform, and the HCLTech Enterprise AI Boundary suite to simplify and scale enterprise AI journeys.
Notable AI-led engagements include implementing a GenAI-based solution for a global technology major and automating gaming review analysis, which resulted in significant workload reduction and a 119% increase in game reviews.
Additionally, they are transforming the client’s content lifecycle management with GenAI features.
