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- Infosys chairman Nilekani: AI job-loss fears are 'nonsense'
Nandan Nilekani, chairman and co-founder of Indian IT services giant Infosys, said at the Bloomberg Innovation Economy Forum in New Delhi that AI is driving business growth and dismissed fears of mass unemployment caused by AI as "nonsense." He argued that while tasks such as coding are increasingly automated, technology is only a small part of service projects, with roughly 70% of the work involving governance, change management, transformation and security — such as preventing AI chatbots from hallucinating or AI agents from going out of control. He acknowledged that coding is being automated, but noted shareholders are increasingly worried about Infosys's ability to win new business, with the stock down about 45% over the past two years; it rose 3.2% on Tuesday while rival Tata Consultancy Services gained 6.2%.
IT之家 AI · 🔥 0 - AI selloff sends Indian IT stocks to biggest one-day gain in 17 months
On October 13, a selloff in AI-related shares pushed Asian chip stocks lower while money rotated into Indian software-services names that some investors treat as an AI hedge. India's NSE Nifty IT index rose as much as 4.9%, on track for its biggest one-day gain in 17 months, led by HCL Technologies and Tata Consultancy Services. According to Sina Finance, Broadcom's CEO described the AI investment mood as akin to gambling at a casino, after which South Korea's chip-heavy KOSPI fell more than 5%; Samsung Asset Management portfolio manager Alan Richardson said Indian IT stocks bounce whenever the AI trade pulls back, but that alone is not enough to bring foreign flows back without sustained earnings and share-price recovery.
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