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GenAI Set to Enhance India’s IT Industry Productivity by Up to 45%, EY India Survey Finds

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The adoption of generative artificial intelligence (GenAI) is poised to significantly enhance the productivity of India’s $254-billion IT industry, with an estimated boost of 43 to 45 percent over the next five years, according to a survey conducted by EY India. The consulting firm highlights that this growth will be driven by both internal implementation of GenAI within IT companies and the increasing shift of client projects from proof-of-concept stages to full-scale deployment.

EY India’s findings suggest that this productivity surge will impact nearly 500 different roles across the industry. As top IT firms like Tata Consultancy Services (TCS) and Infosys continue to emphasize AI adoption, the sector is witnessing a shift toward GenAI-powered projects. The survey reports that 89 percent of IT enterprises have already begun testing GenAI initiatives, with 33 percent of those projects advancing beyond experimentation into production. “Enterprises are moving beyond experimentation to putting AI into production at scale. The rapid transition from POC to enterprise-wide adoption reflects the industry’s confidence in AI’s potential,” said Abhinav Johri, a technology consulting partner at EY India.

The survey further identifies software development as the segment set to experience the highest productivity gains, with an estimated improvement of around 60 percent. BPO services follow closely with a 52 percent boost, while IT consulting is projected to see a 47 percent increase. These figures indicate that GenAI’s impact will be most pronounced in areas where automation and intelligent systems can optimize workflows and enhance decision-making.

Together, software development, BPO services, and IT consulting will contribute to nearly 50 to 60 percent of the overall productivity gains across India’s tech services sector. As AI adoption accelerates, the industry is expected to undergo a significant transformation, with companies leveraging GenAI not only to improve operational efficiency but also to drive innovation and competitiveness in an increasingly AI-driven global market.

Ernst & Young Revolutionizes Hiring Process with eVe Platform, Integrating Metaverse and AI

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Ernst & Young (EY), one of the world’s leading consultancy firms, has taken a bold step into the future of recruitment by integrating the metaverse into its hiring process. The company has launched eVe, a platform designed to offer job candidates a unique and immersive pre-interview experience. This new service leverages the virtual world of Web3 to give applicants a deeper understanding of the interview process, preparing them more effectively before stepping into real-life interviews. With eVe, EY is bridging the gap between traditional hiring practices and cutting-edge technologies.

The core function of eVe is to provide job seekers with a simulated environment where they can interact with an AI-powered avatar that represents an EY associate. The avatar guides applicants through various aspects of the interview process, offering insights into the dos and don’ts, and answering questions about the company’s values and work culture. This virtual assistant, set against a photorealistic digital backdrop resembling an actual EY office, allows applicants to familiarize themselves with the interview setting before they even step foot in a real interview.

Currently, the eVe platform operates in English, and while it mainly focuses on helping candidates prepare for interviews, the potential for future expansion is immense. EY has designed this experience not only to enhance the interview preparation process but also to make it more engaging and less stressful for candidates. By providing such a realistic and interactive preview, applicants can go into the interview with more confidence and clarity about what to expect.

EY’s integration of the metaverse into its recruitment strategy is a glimpse into the future of hiring, where AI and virtual environments play an increasingly significant role. The company is setting a new precedent in the recruitment industry by making the hiring process more accessible, transparent, and technologically advanced. As eVe evolves, it could become a standard tool in global recruitment, redefining how companies and candidates interact in the hiring process.