IT cos tap AI to fuel sales with fewer new staff

Indian IT outsourcing companies, which employ millions, are tapping artificial intelligence to boost efficiency and reduce the need for more workers to grow their business.

- Bloomberg

HCL Technologies Ltd. and LTIMindtree Ltd. are among companies saying they need fewer new staff to keep revenue increasing. The firms, which make their profits from non-core business processes and IT outsourcing projects from corporations in the US and Europe, have integrated AI tools and are already reaping the benefits of greater efficiency.

HCL grew its service revenue 4.8% in the fiscal year through March even as it reduced head-staff growth may not be linear with revenue growth, citing AI-led productivity improvements.