Tech Mahindra chairman Anand Mahindra has said that contrary to the belief that artificial intelligence (AI) will ‘kill’ IT services, the technology will be a force for positive change in the industry. He added that under its new leadership, the tech company is on course to “leap into this new orbit”.

“I believe that the rumours that the advent of AI will be the death of IT services, are grossly exaggerated,” Mahindra said in his letter to shareholders in the company’s annual report for FY24, as per Moneycontrol.

AI will push these services towards a new frontier, into directions that were hitherto unimaginable – and Tech Mahindra will be in the vanguard,” he added, paraphrasing Mark Twain.

Mahindra also outlined a three-year plan to revive its performance at a time when the IT services industry experiences a boom in Artificial Intelligence (AI).

“As organisations strive to stay ahead in the digital race, IT services will play a pivotal role in enhancing that Golden Thread by integrating AI seamlessly into the core business functions. From extracting data-driven insights to solving industry-specific problems to revolutionising customer engagement, the synergy between IT and AI will enable a new era of technological prowess. It will require higher-order work. It will call for upskilling,” Mahindra said in his letter to shareholders in the company’s annual report for FY24.

“Even without a crystal ball, I can venture to predict that Tech Mahindra, under its new leadership, is well-positioned to leap into this new orbit,” he added.

Mahindra said that the company has made “Speed at Scale their promise and war cry” and that Tech Mahindra’s three-year roadmap for achieving profitable growth covers structural, strategic and technological, among other aspects of the organisation.

The future landscape is clearly mapped out, and actions are clearly communicated. Given Tech Mahindra’s past record, the enormous experience that the new leadership brings to the table, and this high degree of preparation, I am confident of efficient execution,” he said.

Tech Mahindra CEO and MD Mohit Joshi also highlighted that the three-pronged strategy will provide revenue growth and improve margins by FY27.