The Indian IT industry is bracing for a significant shift due to the impact of Artificial Intelligence (AI). According to Grant Thornton Bharat's Annual Dealtracker 2024, the Indian economy saw over 1,500 deals totaling around $53 billion in 2023, with a noticeable trend towards smaller deals. The value of cross-border transactions sharply declined from $21 billion to $11 billion, indicating a trend of smaller, more strategic deals.
Companies are pivoting to smaller, smarter deals due to economic uncertainty and cautious investor sentiment. Businesses are prioritizing deals that drive innovation, growth, and value creation, with AI becoming a major driver of innovation. The potential applications of AI in various industries, including life sciences, are vast.
To adapt to the changing deal landscape, IT firms need to focus on smaller, strategic deals that leverage AI and innovation. Companies that invest in AI capabilities and develop strategic partnerships will be better positioned to drive growth and value creation. By embracing new technologies, including AI, IT firms can stay ahead of the curve and remain competitive in a rapidly evolving market.
