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%.

Infosys·Nandan Nilekani·Tata Consultancy Services·+2