Tech in 2023: What GlobalLogic’s Sumit Sood and Nagarro’s Manas Fuloria have to say – Times of India

The year 2023 is here. What it holds for the technology industry, companies and the county’s digital economy. How will the tech sector fare during the year and more. Here’s what senior executives of GlobalLogic and Nagarro have to say:
Sumit Sood, Group Vice President & Head of APAC, GlobalLogic
“Technology, over the years, has been successfully demonstrating its capabilities and has become the pillar that drives today’s digital economy. As we move forward to 2023, we will continue to see accelerated digital adoption with evolving hybrid working models, laying more emphasis on collaboration agnostic of locations. There will be an added focus on intuitive technologies powered by AI and ML which will manage and regulate large amounts of data, and hyper-automate mundane tasks which will drive the Digital Transformation (DX). Moreover, Metaverse will be a game-changer, as its ripple effects will be felt strongly across a multitude of industries that will scale up Customer Experience (CX) and will create a massive number of new career opportunities. With the recent launch of 5G in India, our country will be in a strategic position to accelerate its digital economy, build robust infrastructure, and have seamless processes to transform businesses.
“In 2023, sustainable technology will be becoming the new norm, which will reshape business models. With sustainable technology, enterprises will be empowered to drive energy efficiency, renewable power generation, and increased grid stability to mitigate the risks to society and the environment. As the technology landscape continues to evolve rapidly, it is imperative for tech innovators and business leaders to set cohesive and integrated frameworks towards practicing sustainability. Adopting clean technologies to run green operations and emphasizing reduction of carbon footprint will bring people and planet in focus along with profit, to pave the way to build a greener tomorrow,” Sood added.

Dr Manas Fuloria, CEO and Co-founder, Nagarro
“2022 was a year of record 50+% growth at Nagarro, which seems to have catapulted us into the 10 or 12 largest India-origin IT services companies in terms of revenue. We expect 2023 to be a less dramatic year, perhaps more like a normal year in terms of growth, margins, wage inflation and attrition. The larger IT services companies are also signaling a slowdown to more of a normal pace. Overall, Gartner forecasts IT spending to increase by about 5%, but all players are much more optimistic about the prospects for the segment that focuses on building digital products and solutions. Meanwhile, outside IT services, startups and other VC-funded tech firms are likely to continue to be under pressure in 2023.”