Page 3 - It Industry

Cognizant Q2 net rises 22% to $566 mn, revises FY24 guidance to $19.5 bn

Cognizant has revised its full-year revenue growth guidance for FY24 from $19.3 billion to $19.5 billion, representing a growth of -0.5% to 1%

Hiring of freshers by IT companies likely to go off-campus in FY25

HR experts concurred that the fiscal year 2024-25 will be better than the last fiscal. The total intake from campuses for the sector may hover around 100,000-120,000, according to estimates by Xpheno

Over 30% GenAI projects won't survive beyond proof of concept: Gartner

A major challenge for organisations is to justify the substantial investment in GenAI for productivity enhancement, which can be difficult to directly translate into financial benefit, said Gartner

Crowdstrike blames defect in content update for massive global IT crash

The incident crashed Microsoft Windows computer systems around the world on Friday, taking down airline, banking and stock exchange operations from Australia and Japan to the UK

Delta Air Lines faces widespread flight cancellations after IT outage

Delta has offered no timetable for when normal operations would resume and has already canceled another 137 flights for Monday, according to FlightAware

K'taka plans to raise IT staff working hours to 14; unions call it inhuman

IT sector unions have come out in public in protest against the move, calling it 'inhuman', that will have implications on 2 million workers in the state.

Cummins India inaugurates its first IT global competency centre in Pune

Power solutions technology provider Cummins India on Tuesday launched its first IT Global Competency Centre (GCC) here to drive innovation across global operations through specialised talent and technical capabilities. Set up at the company's India office campus in Pune's Balewadi area, the facility will house software engineers, product owners, architects, technology leads and process experts to drive innovation impacting the automobile, engineering research and development (ER&D), manufacturing and energy sectors, Cummins India said. The facility aims to harness emerging digital technologies like artificial intelligence, machine learning and Robotic Process Automation (RPA), the company said. With 55 per cent of women employees, GCC is leading the charge in gender diversity, and strengthening it across all tech roles will be a key focus area, it added. This GCC aligns with the company's aspirations for business growth and India's continued progress, Annapurna Vishwanathan, Chief

Infosys, Sector Alarm partner to transform enterprise biz systems on cloud

Indian IT services company Infosys on Tuesday announced a five-year collaboration with Sector Alarm, one of Europe's leading providers in security, to migrate their core enterprise business systems on the cloud. According to a release, Infosys will work closely with Sector Alarm to migrate their disparate, on-premises Enterprise Resource Planning (ERP) platform onto Microsoft Dynamics 365 Finance and Operations (F&O), helping them modernise their financial and business operating models. "Infosys, a global leader in next-generation digital services and consulting, today announced a strategic five-year collaboration with Sector Alarm, one of Europe's leading providers in security, who are partially owned by global investment firm KKR, to transform their core enterprise business systems on the cloud," the release said. Capitalising on Infosys' digital transformation capabilities, the Microsoft platform will enable Sector Alarm to streamline finances, gain business insights, and help .

Tech Mahindra adopts Microsoft Co-pilot GenAI tool to 'modernise workplace'

IT company will also deploy GitHub Copilot for 5,000 developers, expecting a 35-40 per cent boost in productivity

Cloud resources biggest targets for cyberattacks in India, shows study

A study by a multinational firm has identified cloud resources as the "biggest targets" for cyberattacks in India. Thales has announced the release of the 2024 Thales Cloud Security Study, its annual assessment of the latest cloud security threats, trends and emerging risks based on a survey of nearly 3,000 IT and security professionals across 18 countries in 37 industries, according to a statement. "The study was based on a global survey of 2,961 respondents, aimed at professionals in security and IT management," it said. The study "identifies cloud resources as the biggest targets for cyberattacks in India". Cloud security spending now "tops all other security spending categories", it added. In India, nearly half (46 per cent) of the respondents reported that all corporate data stored in the cloud is sensitive and 37 per cent of the participating organisations have experienced a cloud data breach in India with 14 per cent having had one in the past year, the statement said. Als

India will follow a DPI-like approach for artificial intelligence: Vaishnaw

The minister expressed concern about the issues arising from AI and said that the entire world was facing the same challenges with the technology

Results preview: IT companies may see green shoots in June quarter

But, Q1FY25 could rank among the weakest in the past decade

AI to usher in era of technological prowess: Tech Mahindra Chairman

IT firm to follow 'three-pronged' strategy for revenue and profitability predictability, says Mohit Joshi

Infosys BPM opens 2nd office in Puerto Rico's Aguadilla, to create 325 jobs

Centre will serve more clients in aerospace, healthcare, insurance, financial services

India must add 1.7-3.6 GW data centre capacity to its 2028 target: Report

The findings of the report said that for every 1 Megawatt (MW) of installed colocation capacity in India, 13.2 petabytes (PB) of data is generated

NTT DATA appoints Abhijit Dubey as CEO of its business outside Japan

NTT DATA has already expanded its international footprint to approximately $18 billion and has the world's sixth-largest market share in the IT services industry

Tech job cut: Microsoft lays off 1,000 employees from mixed reality team

Majority of the jobs cut have been within Microsoft's Strategic Missions and Technologies organisation, which aims to sell the company's cloud software and server rentals for businesses

'IT services export from STPI register unit crossed Rs 9 trillion in FY24'

IT services exports from STPI-registered units have crossed Rs 9 lakh crore in the 2024 financial year, a senior official said on Wednesday. While speaking at the 33rd Foundation Day of Software Technology Parks of India, Director General Arvind Gupta announced an initiative towards developing India's sovereign cloud journey under the brand name 'Ananta', which will be a hyperscale cloud made by Indians for Indians. Apart from the conventional Compute Infrastructure Services (IAAS), Ananta will also offer PAAS, SAAS and GPU-based services. "STPI has played a very crucial and important role for nurturing the IT industry so that it could have reached this stage. The exports from STPI registered units have also reached Rs 9.19 lakh crore," Gupta said. The STPI registered units in the first year of its establishment in 1991 reported exports of Rs 17 crore. STPI at the event signed a memorandum of understanding with Sabudh Foundation for creating skill-development initiatives and nurtu

Meganet set to log Rs 1,000 cr revenue in next two years, says CEO Pipada

Computing hardware manufacturing firm Mega Networks (Meganet) is en route to entering the Rs 1,000 crore club in terms of revenue in the next two years, founder and CEO Amrish Pipada said. During an interaction with PTI, Pipada extensively discussed the firm's expansion plans, its strategy to encash India's burgeoning AI server market, and the role of the Production Linked Incentive (PLI) scheme in its growth. The CEO exuded confidence in the company's capabilities and said the homegrown firm is set to achieve a 30-40 per cent revenue growth in FY25. Meganet recorded a revenue of Rs 300 crore in FY24. "We are on track to join the Rs 1,000 crore club within the next two years on the back of evolving demands and our growth strategy. This involves accelerating our core business by focusing on delivering high-quality products and services, investing in marketing and operational efficiency, and expanding into high-potential emerging technologies such as semiconductors fabrication, ...

Wipro public shareholders object to outgoing CEO Delaporte's severance pay

Resolution to pay him $4.33 mn in cash compensation is accepted due to promoter shareholding