Agentic AI might open up new spend pools worth $300–$500 billion, particularly in India’s technology services industry, according to a recent Nasscom reprt. The combination of AI-driven automation and human expertise, which is anticipated to result in hybrid work teams, is what will determine this potential increase. The study was carried out in association with McKinsey & Company.
What is Agentic AI?
A new class of intelligent, self-governing AI agents known as “agentic AI” is capable of carrying out tasks, coordinating intricate workflows, and gradually learning and adapting. Agentic AI can reason, plan, and take initiative to solve multi-step issues, in contrast to typical AI systems that carry out specific, predetermined activities.
Key Takeaways from the Nasscom report
The report, titled “Future of Technology Services: Leading with AI,” identified several key trends:
The main conclusion is that by extending the range of what is feasible for tech services, agentic AI will provide new business opportunities. Even when funding on some legacy service lines is being cut, this will still occur.
The combination of AI agents with human labour will constitute a significant change. By letting humans concentrate on higher-value jobs while AI takes care of routine chores, this paradigm will increase productivity, scale, and trust.
Spending on enterprise technology will increasingly focus on productivity and innovation powered by AI. To stay competitive in the face of this change, Indian service providers will need to switch to AI-native products.
According to the report, GCCs in India will progress from offering back-end assistance to serving as major hubs for global firms looking to propel AI-driven innovation.
Requirements for Seizing the Opportunity
The report claims that because of its large pool of technological talent, India has a special chance to spearhead an AI-driven revolution. But doing so will necessitate a major effort to redesign service delivery models and reskill people.
In order to take advantage of this potential, the tech sector must:
- Invest on R&D: Developing competitive, AI-driven intellectual property (IP) is essential to developing new, valuable products.
- Rethink offerings: To include AI capabilities and offer fresh, result-driven solutions, current service paradigms need to be rethought.
- Create talent pools: The workforce needs to be extensively retrained and upskilled in order to become proficient in AI and work well with AI agents.
