Wipro's CTO says AI is an opportunity, not a threat

Core Insights - Wipro's CTO views AI as a significant opportunity for the software services industry, expecting it to enhance demand rather than threaten the outsourcing model [1] - The IT sector, valued at $283 billion, is currently facing market selloff due to fears that AI could disrupt traditional labor-intensive operations [1] - AI is anticipated to create 170 million jobs globally while displacing approximately 92 million, indicating a net positive impact on employment [1] Industry Perspective - The current focus on task automation is seen as too narrow; the shift towards "autonomous enterprises" will require deeper collaboration between IT service providers and clients [1] - Wipro emphasizes the need for "AI literate" engineers, countering predictions of a hollowing out of the traditional staffing pyramid in the industry [1] - The transition to autonomous enterprises is expected to shape technology spending for the next decade, with AI being a dominant force in driving business [1]