Mohit Joshi, the MD and CEO Designate of Tech Mahindra, emphasized that India is in the nascent stages of a technological revolution. Predicting a rapid acceleration of progress, he stated, "Over the next decade, we anticipate experiencing a year's worth of transformation annually."
He highlighted that this evolution will be steered by Artificial Intelligence (AI), advancements in genomics, nanotechnology, and robotics. These advancements will necessitate human involvement, demanding profound technical and business expertise.
Speaking at IIM Nagpur's 'Zero Mile Samvad,' addressing concerns about AI rendering programming jobs obsolete, Joshi remarked, "AI will undoubtedly simplify programming and increase its prevalence. However, I believe it won't render it obsolete.
"In a discussion with Siddharth Zarabi, Managing Editor at Business Today Television, he highlighted the truly remarkable aspect of AI. It enables an average programmer to achieve a level that previously only experts could attain within a short period. AI facilitates a substantial increase in productivity, emphasizing that programming essentially involves implementing specific business logic to achieve desired outputs," he explained.
Joshi mentioned that AI's impact will create both winners and losers but emphasized that it will significantly favor more winners. He firmly believed that AI will overwhelmingly benefit society as a whole.
Moreover, expressing optimism about the future of the IT services industry, he forecasted a double-digit growth trajectory for the sector over the next decade or more. Joshi attributed this growth to the industry's reliance on a scarce pool of engineering and technology talent globally, stressing that despite AI's advancements, the demand for programming talent, currently totaling only 5-6 million worldwide, will persist.
He anticipated an evolution in the role of programmers over time but remained steadfast in asserting that the IT services industry would continue to expand and necessitate a substantial talent pool. Joshi envisioned a larger industry in the future, highlighting its ongoing need for skilled professionals.
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