Nasscom and Avasant jointly released a report titled “Digital Enterprise Maturity 5.0: Digital Readiness in the Era of AI,” highlighting India’s dominance in digital services outsourcing.
This comprehensive study delves into the evolving landscape of digital investments and outsourcing preferences among global enterprises.
Key Findings:
Tech Spending Trends:
- Around 71% of enterprises allocated over 20% of their tech budgets to digital initiatives in CY2023.
- An impressive 90% of companies plan to escalate investments in crucial digital domains
- in 2024, encompassing AI, ML, Big Data analytics, cloud computing, cybersecurity, and intelligent automation.
Outsourcing Dynamics:
- The report unveils a significant surge in long-term digital services contracts, doubling in CY2023.
- India remains
- the top destination for outsourcing digital services, chosen by over 50% of enterprises across various sectors such as travel, telecom, media, entertainment, and construction.
Nearshoring Trends:
- Notably, nearshoring to India witnessed a substantial uptick, with 45% of high-tech and travel companies and 41-43% of telecom, manufacturing, and construction firms opting for it in 2023.
Industry Highlights:
Philips’ Pune Expansion: Royal Philips inaugurated a new R&D center in Pune, augmenting its Healthcare Innovation Centre.
Expected to accommodate 1,900 employees initially, this facility integrates various R&D teams to enhance operational efficiency and collaboration.
TCS’s Delivery Center in Brazil: Tata Consultancy Services unveiled a new delivery center in Londrina, Brazil, aiming to generate over 1,600 job opportunities in the next five years.
Specializing in transformative technologies like AI, this center reinforces TCS’s commitment to the Brazilian market.
Happiest Minds’ Collaboration: Happiest Minds Technologies partnered with MindSculpt Analytics to develop advanced medical diagnostics solutions leveraging AI and ML.
This collaboration aims to revolutionize healthcare by providing personalized diagnostics and treatments.
EnterpriseDB’s Leadership Appointment:
EnterpriseDB appointed Ramesh Mamgain as Vice President for the India and South Asia region, reflecting its dedication to expanding open-source database solutions.
Mamgain’s leadership underscores the growing demand for scalable and cost-effective database solutions in the region.
Conclusion:
The Nasscom-Avasant report underscores India’s pivotal role in the global digital services landscape. With escalating investments,
robust outsourcing preferences, and strategic partnerships, India continues to reinforce its position as the preferred destination for digital innovation and outsourcing.
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