Infosys expects slower growth: clients are buying less IT
Published
The Indian IT company Infosys has said it expects slower sales growth than before. The company is therefore lowering its growth forecast. This is a sign that many clients are more cautious about spending money on IT services.
According to the company's assessment, clients are holding back on purchases of IT solutions. Many businesses are waiting and watching the market before deciding on new projects. This makes it more difficult for large suppliers to increase revenue as they did before.
At the same time, artificial intelligence (AI) is creating both new opportunities and new challenges. AI generates new assignments for the companies, but it also brings increased price pressure. Customers may expect lower prices for services that previously required a lot of manual work, and this affects profitability in the industry.
For Norway, the development may be relevant, because many Norwegian businesses buy IT services from international suppliers. How the market develops further, and how quickly businesses adopt AI, will be important to follow in the coming period.
Sources: TechWatch
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