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Wipro CEO Sees Growing Demand for India’s IT Services From AI

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Artificial intelligence is increasingly driving demand for India’s IT services, as companies move beyond pilot projects and begin rolling out large-scale AI initiatives, according to Srini Pallia, chief executive of Wipro.

Speaking on the sidelines of the World Economic Forum in Davos, Pallia said Wipro is competing for a mix of small, large, and mega AI-related deals as clients across industries adopt the technology at different stages of maturity. While pricing pressure remains intense due to faster delivery timelines and leaner teams enabled by AI, he expects the number of smaller projects to rise as adoption widens.

India’s $283 billion IT sector has faced several quarters of slower growth as global clients cut technology spending amid economic and geopolitical uncertainty. Pallia said enterprise AI spending is now shifting from experimentation to accountability, with boards and executives demanding clear returns on investment.

He added that AI-assisted software development could cut costs by about 25% through productivity gains in coding and testing, leading to more projects over time. Wipro launched a three-year, $1 billion investment plan in 2023 to strengthen its AI capabilities.

Atos to sell Latin American businesses to Brazil’s Semantix

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French IT services company Atos said on Friday it has signed a binding agreement to sell its Latin American operations to Brazilian technology firm Semantix, as part of a broader restructuring effort following severe financial distress.

The assets being sold employ around 2,800 people across Brazil, Argentina, Chile, Colombia, Peru and Uruguay. Atos did not disclose the financial terms of the transaction, but said it expects the deal to close in the coming months.

The divestment marks another step in Atos’ turnaround strategy after the once-prominent French technology group narrowly avoided collapse in 2024. Earlier this year, the company completed a sweeping financial restructuring that significantly reshaped its balance sheet and ownership structure.

As part of that process, Atos reduced its debt burden by approximately 2.1 billion euros, with banks and bondholders emerging as the company’s main shareholders. The restructuring plan places a strong emphasis on asset sales, allowing Atos to streamline operations, generate liquidity and refocus on its core activities.

The sale of the Latin American business underscores the scale of Atos’ transformation as it works to stabilise operations and restore confidence after years of financial and operational challenges.

Infosys Approves Record $2 Billion Share Buyback

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Infosys, India’s second-largest IT services provider, said Thursday it has approved a share buyback of 180 billion rupees ($2.04 billion), the biggest in its history. The company set a buyback price of 1,800 rupees per share, with the repurchase to be carried out through the tender offer route.

This marks Infosys’ fifth buyback, following its last repurchase in 2022–2023.

Market analyst Gaurav Vasu, founder of UnearthInsight, noted that Indian IT firms remain investor-friendly and service-driven, but suggested they should also explore mergers & acquisitions and focus on developing AI and cloud products, similar to U.S. tech giants.

Following the announcement, Infosys’ U.S.-listed shares edged up 0.03% to $16.99, while its Mumbai-listed shares closed 1.5% lower at 1,509.7 rupees.