Davos 2023: Focus On Artificial Intelligence Will Only Rise, Says HCL Tech CEO

HCL Technologies Ltd. says focus on artificial intelligence will rise as becomes an integral part of digital services, according to Managing Director and Chief Executive Officer C Vijayakumar.

"Our lives have been impacted by artificial intelligence, from online shopping to travelling. And this is going to step up," Vijayakumar told BQ Prime's Niraj Shah on the sidelines of World Economic Forum at Davos, Switzerland.

AI opportunities were "very-much visible", he said. "We have been trying to build these into artificial-intelligence solutions. The focus on artificial intelligence is going to be much more."

There is going to be a $10-trillion spend in the next 10 years on sustainable solutions and services, he said.

"I believe this is the next digital... companies like us who have a long, strong product heritage, we can use all new technology to build sustainable solutions."

Vijayakumar said the firm's attrition significantly dropped in the last quarter and even the talent costs were moderating.

Over the last 18 months, HCL Tech has doubled down on fresh talent absorption, he said.

"We hired 30,000 people in the last 12-months and we expect to hire 30,000 people in the next 12 months."

"As we came into the new year, a couple of things happened that helped business," Vijayakumar said.

The winter in Europe has been much warmer, the energy crisis moderated and with China opening up, global businesses are having a little bit of hope, Vijayakumar said.

"I see a little bit of positivity from what we saw in December-end. And India's presence is very strong at the World Economic Forum 2023."