• IT services impact: Productivity gains from AI are expected to lower software development costs and generate new application demand, mirroring historical trends seen with enterprise software platforms.
• India's AI positioning: While India lags the US and North Asia in semiconductors, hardware infrastructure, and core software platforms, its competitive advantage lies in building business applications, talent, and driving enterprise adoption.
• AI project pipeline: Mastek initiated 25 new AI projects in the past month and currently has around 85 active AI engagements, representing approximately 25% to 30% of its customer base.
• Enterprise AI consulting: The company is advising over 150 US clients (and roughly 300 overall) on formulating AI strategies, data security, cost reduction, and accelerating product implementations for platforms like Oracle and Salesforce.