Comments
Tech major IBM does not see a slowdown in the Indian market and continues to be bullish on the region as digitisation and automation continues to increase, according to Sandip Patel, Managing Director, IBM India and South Asia.
This comes as the technology sector globally has been seeing macroeconomic headwinds affect the demand environment, and a slowdown looms in the market. “Considering both micro and macro indicators, we haven’t necessarily seen a slowdown in India in terms of the fundamentals of where the market is growing. Technology tends to be a deflationary force across indicators,” Patel said. He was talking at the IBM Think event in Mumbai.
Global tech capital
India can become a global capital for technology and skills, and a leading force of change and growth globally, given its resilient domestic economy and advancement in technology and innovation, believes Patel. As IBM bets big on Artificial Intelligence(AI), he notes that AI, hybrid cloud and quantum technology are critical in unlocking India’s future.
Explaining about the headroom for growth in the Asia Pacific region including India, Paul Burton, General Manager, Asia Pacific, IBM notes that the size of the technology market as a percentage of GDP is approximately as high as 5 percent for advanced economies like the US. But, in many countries in the APAC region, that percentage is only 1 per cent or less. “Looking at these two factors combined, it seems to me that there is nowhere to go but up,” he said.
Even on a global level, Burton says that the company does not see reduction in demand as AI, automation, and hybrid cloud are delivering greater effeciences for businesses. He said, “These technologies are being consumed more and more out of necessity not just in India, but worldwide.”
Underscoring the importance of IBM’s India workforce at a global level, Patel said that the India research and software labs drove significant development work for Watsonx. “We are truly the embodiment of innovating and developing in India, for India and the world,” Patel said. The company unveiled Watsonx, a new AI and data platform earlier this year.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.