India does not face a threat of losing its edge over other countries with the rise of new emerging technologies such as artificial intelligence (AI) and machine learning (ML), Tiger Tyagarajan, CEO and president of Genpact told ET in an interview. He said the opportunity size for India has only increased given the huge technology talent pool available.
“We never thought about the cost advantage as the only advantage that never stays for long but we have a huge tech base. That population doesn’t learn AI and ML, but it’s not that the technology population the world over is learning AI and ML,” said Tyagarajan.
Tyagarajan, who has been CEO of Genpact since 2011 and is based in the US, said he believes the India advantage is only going up.
“And a lot more people are raising their hands and coming back to the country because the economic opportunities are great here.”
He said Indian tech outsourcing industry is historically built on reskilling where employees go through rigorous training modules paid for by the company.
Tyagarajan was speaking on the sidelines of the Genpact Social Impact Fellowship (GSIF) along with EdelGive Foundation - the philanthropic arm of Edelweiss Group. The second batch of the fellowships were launched in July 2017 with 16 fellows working with non-profits such as Teach for India, Magic Bus and NASSCOM Foundation.
On whether the changing technology contours will have an impact on the jobs, Tyagarajan said 90% of the jobs that existed in the company five years ago don’t exist today. “So the work we do with GE (its erstwhile parent) today, 90% is not the work we used to do earlier.
The size of the relationship has not changed much but the work has completely changed.”
In order to ride the new technology curve, Genpact will continue to invest in trainings and acquisitions.
Tyagarajan said that in future, Genpact will acquire companies similar to the areas it has already added so far with five acquisitions in last 18 months. The acquisitions, which have been all digital -- in AI, design consulting, dynamic workflow on cloud and insurance claims processing on the cloud, among others.
“We never thought about the cost advantage as the only advantage that never stays for long but we have a huge tech base. That population doesn’t learn AI and ML, but it’s not that the technology population the world over is learning AI and ML,” said Tyagarajan.
He said Indian companies traditionally have been good at teaching people new skills. “Everyone I think can do training at scale on AI and ML, that’s not going to be the challenge. The challenge is going to be how to apply it.”
Tyagarajan, who has been CEO of Genpact since 2011 and is based in the US, said he believes the India advantage is only going up.
“And a lot more people are raising their hands and coming back to the country because the economic opportunities are great here.”
He said Indian tech outsourcing industry is historically built on reskilling where employees go through rigorous training modules paid for by the company.
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Tyagarajan was speaking on the sidelines of the Genpact Social Impact Fellowship (GSIF) along with EdelGive Foundation - the philanthropic arm of Edelweiss Group. The second batch of the fellowships were launched in July 2017 with 16 fellows working with non-profits such as Teach for India, Magic Bus and NASSCOM Foundation.
On whether the changing technology contours will have an impact on the jobs, Tyagarajan said 90% of the jobs that existed in the company five years ago don’t exist today. “So the work we do with GE (its erstwhile parent) today, 90% is not the work we used to do earlier.
The size of the relationship has not changed much but the work has completely changed.”
In order to ride the new technology curve, Genpact will continue to invest in trainings and acquisitions.
Tyagarajan said that in future, Genpact will acquire companies similar to the areas it has already added so far with five acquisitions in last 18 months. The acquisitions, which have been all digital -- in AI, design consulting, dynamic workflow on cloud and insurance claims processing on the cloud, among others.
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