Unlike counterparts in the developed world and China, Indian software makers, including Tata Consultancy Services Ltd. have yet to make significant advances in generative AI. A BSE Ltd. gauge of Indian software stocks has recently fallen through key support levels into a technical correction. TCS last month reported its slowest annual sales growth in three years. While companies and peers around the world, like Accenture Plc, are making positive noises about AI, their sales contributions are still small. That comes as metrics of growth in sales and earnings have dropped below levels enjoyed by the sector in 2019.

Source: The Hindu May 17, 2024 19:38 UTC