Breakdown: Accenture Results Update & Future of IT Industry in India | TCS Wipro Infosys | IT Jobs

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IT Industry recession 2024 can be prolonged because in the Accenture Q2 Results Update, it has been shared that Accenture is lowering their revenue targets. In this video, I cover what the Accenture results update or Accenture quarterly results mean for the future of IT industry in India. Companies like TCS WIpro Infosys will also have to face the heat if the overall revenues for the entire IT sector go down. In recent times the IT sector news or the latest IT industry news has not been very positive owing to the fact that the TCS shares, Infosys shares, and Wipro shares have witnessed a regular drop in value recently.
Accenture results 2024 can exacerbate or so to say amplify the negative impact of the negative IT industry current situation. We have often heard that IT Industry after 40 is a difficult field to grow in. However, I would say that in the coming years, it can become difficult for youngsters to secure good pay in the IT industry if the current IT industry trends continue. The future of IT industry in India is riddled with the IT industry recession 2024. Because of this, we can assume that IT jobs are going to reduce or even become difficult to keep for the current IT employees in TCS Infosys Wipro. TCS employees, Wipro employees, and Infosys employees should look out for the larger trends in the IT industry to understand latest IT industry news.
Even tough the IT Industry current situation looks bad, there are a few things that IT employees in TCS Infosys and Wipro can do. I have shared what IT employees can do to make sure that they minimize the negative impact of these IT industry trends on their careers and even get a secure career in the future of IT industry. IT sector news today might not be what you expect, however business cycles do lead to better growth with time and AI disruption can also be tackled if you focus on upskilling and ensuring that you are well prepared for the future.
IT industry new threats are always coming to be around the corner, but you should focus on how you can grow in your career as an IT employee without having to worry about the IT layoffs and other negative news that has been around for some time now. IT layoffs such as TCS layoffs, Infosys layoffs, Wipro layoffs, and even Accenture layoffs have made a lot of IT employees sceptical about the future of IT industry in India. But the reality is that if you focus on your career and keep an eye on the changes in IT industry, you should be able to fare well through these tough times as well. Hope you find this video valuable, see you in the next one!
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About Me
I publish meaningful and valuable content on this channel. My aim is to make business news more accessible and easy to grasp. If you find my videos informative and insightful then make sure to subscribe and leave a comment. I’ll see you in the next video
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Chapters
0:00 - Intro
0:36 - Accenture Quarterly Results
3:00 - Reasons for poor performance
7:25 - Outro

[@PavanSathiraju]

Subscribe to the channel if you haven't already. Will give me more motivation:) Link to subscribe: youtube.com/@PavanSathiraju

[@dheerajkarn]

This is not the actual reseasin for IT sector slow down. Clients have understood the way these IT sector make money in india. They pay very less to their employees. Eg clients pays 100 dollar per employees, out of this IT companies pay 20 dollar to employees and makes 80 dollar profit. Now these clients are opening their own captive centre and paying 40 dollar per employees here they are saving 60 dollar.. many of companies have opened their own centres in Hyderabad, Bangalore, Gurgaon.

[@Gauravkumar-jm4ve]

That's good for us actually if client is opening their own centres here But I don't think that's happening

[@dheerajkarn]

@@Nakamura7338 growth comes from currency value. And companies do not pay taxes under SEZ if not listed in India.

[@trijit96]

​@Nakamura7338 if govt has tp boost employment then they have to make tech park subsidized and collect income tax from employee that way a cluntry will grow

[@ankitraj_30]

Great insight pawan !

[@mayankanand4595]

Just a quick suggestion, Pavan. Whenever you give examples of Indian IT, 90% of the time you don't mention HCL's name. However, every time you do mention a name, it's always Wipro along with TCS and Infosys. HCL outperforms Wipro in almost all parameters, so please do mention HCL's name if not Wipro's."

[@9714]

All IT companies are same.

[@PavanSathiraju]

Sure Mayank. Wipro came to my undergrad campus, so usually on top of my mind:)

[@varshavora9935]

Oh so you are that "employee of the month" of HCL ...fighting for his company everywhere...good look when company layoffs people like you

[@NishantSharma-tr6xl]

the business model is the same... names hardly matter

[@vinayaknaik708]

Also they don't give value to employees

[@jatinshah7780]

Thanks Pawan your analysis was good 👍

[@Chinchadali]

Yes forecast looks bleak. We got below average hike this year but getting a hike kind of ensured that company is still doing well and jobs will continue. Difficult times, only wait and watch 🎉

[@mrinaymishra7175]

Bhai kaunse unit ka hai jo hike mili?

[@shankysuneja3968]

Accenture India?

[@mrinaymishra7175]

Yea

[@Chinchadali]

@@shankysuneja3968 No

[@shambhucis4u]

Very well described! Can you make one for CNXC who recently acquired Webhelp!

[@honchoabhi]

Great analysis

[@manikandans3257]

No one can run behind AI in the current market. Does any llm deployed in cloud will protect meta data. To implement llm the cost is very high for memory and cpu utilisation for container. So please don't compare current financial year revenue with AI investment.

[@basedmanaf8100]

2024 is a very uncertain year. Major elections are going to happen in this year also you have geo political turmoil that's affecting world economy

[@neeljitkumar2141]

And Infosys has given it share to 4 month old baby worth 127 cr 😂😂😂 and you should work 70 hr per week

[@tarunshroti3255]

toh infosys me kaam karne mat jaana isme morally kuch wrong nahi hai.lakhon logon ko job(bread and butter) diya hua hia infy ne uska kuch nahi?

[@himanshuutube]

​@@tarunshroti3255sirf bread and butter se kuch nahi hota. Agar company ki capacity jyada hai to usse jyada pay karna chahiye

[@karthiks8080]

Hmmm, why can't you build a company like Infosys. For mediocre hard work is the right approach

[@bobroy3746]

​@@karthiks8080 Because everyone don't like to be a leech like IT company owners. What will Narayan Murthy do after 2025 when western clients will stop accepting Indian IT services due to dedollarization?

[@spyboy0076]

Bolto aise raha h free me paise bat rahe ho infosys employees ko ​@@tarunshroti3255

[@vigneshn3446]

Majorly most of the clients have reduced spending of IT. Hence they have cut down the unwanted positions in the projects. Along with that project pipelines are less. Clients are building their IT in India to build their own IT team. These are hitting majorly all the companies with revenues & margins !!

[@alldaywhodie]

All the jobs that got outsourced to India because the labour was cheap, now those companies are going to use AI.

[@anmolpatel793]

Do you know the cost of running your LLM on cloud or on premise server?

[@tarunshroti3255]

@@anmolpatel793 20 dollar per month subscription.Not every one will deploy llm.

[@souravghosh7558]

All companies have become top heavy, people should introspect themselves

[@dev786ish]

AI was also created by human... And anytime now customer service will need humans for humans. AI can only assist or work upto a limit

[@Babayagaom]

AI not gonna do anything.. where is the hype created by block chain

[@sbhatt2895]

I learned cloud and machine learning from govt msme organisation in 2017.TCS has built their learning portal but quite not effective. Employee cannot learn anything because they need time. It companies not willing to give time so spent Saturday and Sunday to learn. Not effective.i learnt entirely from my customer. Find a project and learn from them. I used to learn from customer and used to prove them wrong . Once a customer realised that called me dubious character

[@9714]

I think this is all hypothetical. It’s better to discuss if you should be buying a PS5 pro or not this holiday season.

[@Sarcasmka14]

Which software do you use for editing mr.Pavan

[@rajeshkumaryadav8391]

In India it companies pay very less to an employee..TCS Capgemini Accenture Wipro cognizant all market share ... government should look into it and company owner should have a big ❤️ heart

[@hdkloh6857]

Attrition needs to increase for Accenture. Then only actual fun part will begin.

[@youknownothingjonsnow3128]

Why?

[@venkateshthota2996]

May be you are suffering from some mental disease, consult doctor bro...

[@hdkloh6857]

@@youknownothingjonsnow3128 Then only employees will get hike & VP(Variable Pay). Company will have to explain the shareholders why Attrition rised & what steps as a management you are taking.

[@9714]

You mean “will begin”

[@venkateshthota2996]

Psycho fellow

[@venkateshthota2996]

If accenture Europe revenue reduced means other companies are doing great. Accenture revenue is not directly proportional to other companies revenue. Accenture loosing business and Clients are getting attracted by other companies.

[@aishwaryashreejayabhaarath6554]

Very informative pavan great job 👏🏻 Can you suggest some of your fellow youtube channel that talks about markets elections, seed funding, venture capitalism

[@vinayentc]

Spread fear....it works.....views come.....

[@PavanSathiraju]

Did I speak ANYTHING that Accenture didn't share. Everything is from there quarterly results ONLY! 1) Isn't this is the Accenture result? 2) And aren't they acquiring companies? 3) Don't they represent the market? 4) Did I say anything COMPLETELY different. Let me know. There is a difference between spreading negativity and sharing reality. And in reality - you have both positive and negative. You need to accept both!

[@saradaprasannbarik9764]

Two things work in social media for views by selling "Hope and Fear" babu bhaya 😂😂 I am also a content creator. Just putting my comment privately.

[@As-zc3kt]

Sharing facts based analysis doesn't mean spreading negativety. This shows you don't have guts to accept facts.

[@LakshmishaRajuR357]

And he's minting our time to money 💰💰💰 Well done Pavan 🎉

[@kousik8042]

​@@As-zc3ktiska har video Aisa hi rr he

[@Raja-tt4ll]

Nice

[@anukulagrawal7091]

Would this lead to job cuts or revoking the jobs offered to mba students

[@akshaye5868]

I want to make a point here, please share your opinion on this AI will reduce number of jobs Ex.20 people are sufficient to do 100 people work,so 80 people will lose job so their spending capacity decreases, indirectly businesses will be in loss. So this is a cycle which itself is going to repeat in an unclear way. In long run AI will do more harm than good. At the same time I accept AI in some places but not at all places.

[@PavanSathiraju]

The world is more concerned about productivity. That is can we produce more with the same set of resources /input costs. In that scenario - rich will become richer

[@tben7808]

Have a different though process. If the job role or skillset is repetitive in nature an AI or Robotics can do the same job faster and better than any human can. Capitalism in short prevails in here. Question may arise, what jobs are safe... based in historical data, it may be product or service redevelopment jobs and any jobs that offers a better human experience. Until AGI also has Emotional Intelligence. This gives rise to a question, while a human works and a byproduct of it is salary / pay ...that is been taxed. Will AI and Robotics also see a similar tax structure as time progresses?

[@basedmanaf8100]

AI is overhyped and people are unnecessary creating a dinosaur out of a lizard

[@saradaprasannbarik9764]

GenAi is still overhyped. No body knows what it is. All are googling and finding some meaning on internet and chat gpt. Sharing knowledge in the name of GenAi will replace this, that.. " just sell Fear and Hope" in social media. Views will be more 🤣🤣

[@basedmanaf8100]

@@saradaprasannbarik9764 Nothing can replace human brains. You still have many jobs existing even today that were supposed to go extinct due to internet. IMO , AI will generate more jobs than reduce them.

[@detro690]

After there was no news of Infosys in the donors names list, I sold most of my quantities of Infosys shares. Cuz it'll fall more. The majority will come out in the Pmcares fund list which will be revealed soon. Major businesses and politics go hand in hand. Afterall Infosys co founder has been made a nominated MP in Rajyasabha by BJP around a fortnight ago 😂🙏🏼

[@ramaswami1988]

❤

[@divyalakshmi2001]

Only indian labour can work for more than 12 hours, if something crashes in prod sit whole day at minimum cost

[@kusalchakrabarty1257]

What will be the senario of placement in 2024-25.

[@shambhusr4446]

Is this the first time the IT index is falling? Dont spread unnecessary news in the zest to hunt content

[@vinayaknaik708]

Mention HCL also in the list

[@deepaks-G]

Those having degree and experience in non IT should stick to non IT . In IT industry presently there are no opening for freshers, and for those who have no IT degree.

[@sauravroy5391]

Very valid point you have raised These Non IT people why they are coming to IT I really dont understand, when HR sends me resumes of Non IT engineers i simply reject to interview them

[@shivakumar-go7vw]

Ar u recuter..​@@sauravroy5391

[@abuxinegaming7600]

​@@sauravroy5391I (Civil Engineer) taught my friend (CSE Engineer) all M1, M2, M3 and I use to always excel in studies during our first year. He always came to me for help and I helped him in his studies. During placements. He got placed with 6 LPA package and I got placed with 1.44 LPA package. This is the situation of Non-IT branch. They don't need skilled people they are ready to hire even average people out there so they pay so less that even blue collar jobs will have more income than these Non IT engineers working in core. This situation made me realize that in order to survive and get respected for my talent I have to switch to an IT company. Now I am in IT company and I am very happy with my decision. And also not to mention I'm earning more than my professor who cracked GATE 4 times.

[@saradaprasannbarik9764]

All will be up in next quarter. They all will be in profit in next quarter. It is just that appraisals are in this quarter. That's the reason 😂😂

[@heenagiri1771]

😂😂

[@DebjyotisGaming]

The entire market is manipulated to play with numbers not many have the brains to see through it; the global stability is also at the brink there are two impending wars in the Asian subcontinent so be prepared for it than cribbing

[@vigneshk4486]

Hii .i have completed my interview on 26 Feb 2024.till now no update.howmeny day it will take time for the result? Plz reply.

[@Gokul_02]

Atleast you need to wait 6 months in worst cases

[@sureshnair2442]

After Artificial intelligence being applied in all areas there will be less demand for software engineers in India. All these services provider companies like cognizant, Wipro will have less business in next 3 to 4 years. Is software engineering a good career anymore?

[@Gauravkumar-jm4ve]

Nope

[@madhavi2424]

Correct question, the demand for IT is lot less than the engineers that are produced in the country

[@StartreckTu]

Demand is going to get high. AI will be there but we need AI skilled people. So jobs will be there are you skilled is the question.

[@charleyputh]

That's how you speak English with a heavy Telugu accent, but still make it to INSEAD and McKinsey. That pronounciation "markeyt" ended it all

[@PavanSathiraju]

Sure. Will start picking up lessons from you. And hopefully will achieve greater heights under your guidance sir!!

[@91pp898]

This guy is either view sicker or attention sicker. Stop negativity. Be positive

[@PavanSathiraju]

Arey bhai. 1) Isn't this is the Accenture result? 2) And aren't they acquiring companies? 3) Don't they represent the market? 4) Did I say anything COMPLETELY different and out of context? Let me know and then share. I just shared the facts here.

[@Sy06274]

Stay positive 😂😂

[@91pp898]

@@PavanSathiraju that is fine sir I'm not blaming that you are faking the information it's a scariness you are spreading about AI and IT job market from past few days. You got subscribers who may be freshers, job seekers or laid off employees. What is the message you are giving them ? They are already in trauma and your videos are working as a cherry on the top. please do make videos on how to improve the skills or how to sustain on the Job market. And Sorry if I made any wrong statement.

[@91pp898]

@@Sy06274 tuje kya ho gaya bhai ???

[@Sy06274]

@@91pp898 are be positive Wale ko support kar Raha hu 😂😅

[@devashishpriyadarshi6366]

LLMs are not reliable and require a lot of correction through retraining so basically the training is a never ending process. Try asking chatGPT to decode base64 values of some 5 lines of text containing a variety of words and you will know no matter how many original and base64 values you train an LLM it will never produce a decoded values 100% accurately. So for things like this and many other LLM action or response will always need a human to validate. Commenting this again since my last one got deleted.

[@youknownothingjonsnow3128]

So will Accenture start layoff I am about to join this company, so really scared

[@ashishsolanki86]

Dont join too much work pressure and managers are too demanding

[@avanibhopi3826]

​@@ashishsolanki86very true

[@vinayj1763]

​@@ashishsolanki86 Is there any other choice for Indian people, our government only takes money as tax but doesn't give any unemployment benefits, what to do

[@mountainhunter]

Modi ji will make magic. He was god 😊

[@Sy06274]

Hell 😂😂 he is the Worst PM 😔

[@mountainhunter]

@@Sy06274 😃

[@sandysingh1125]

What other option we have? Pappu?

[@Sy06274]

@@sandysingh1125 obviously we have

[@NishantSharma-tr6xl]

Modi ji will make Accenture proud one day

[@ajaybhattfinance2610]

Which bgm you have used?

[@Liberty2Explore]

Choli ke peechay kya hai

[@Teja4938O]

😂​@@Liberty2Explore

[@propagandabuster9280]

​@Liberty2Explore no it's ristedaar behen chorr

[@user-iz9rw5ms6k]

What about Ltimindtree?

[@anm_15]

IT wont be mass job producer in next 100 years now. People have to look for the other fields like manufacturing or healthcare, stop coming in IT.

[@AakankshTankala]

Any update on Oct 17 interviewed candidates

[@heenagiri1771]

😂😂😂

[@user-fe1qi9nl4k]

All are failed

[@enigma7080]

Service based company cannot grow if AI will increase. More people more revenue for service based. Product based companies will grow in AI era.

[@StartreckTu]

To service AI we need AI skilled people 😂 this is not your terminator movie.

[@abhishekvanenooru2869]

bears dream to short the hell out of these companies

[@musicnights8075]

Will AI replace?

[@propagandabuster9280]

Yes definitely..

[@pinkman4946]

IT is there only for 3 to 5 years. Only 20% jobs will remain after that

[@venkateshthota2996]

AI will replace stable and repetitive work, human minds are way beyond AI, human intelligence is required somewhere else.

[@ajaygupta2639]

AI is overhyped. AI is just tool and human need to adopt it.

[@Msdian9455]

​@@propagandabuster9280, nope

[@RishiRajxtrim]

😭

[@FS-hp9oy]

Blame ARTIFICIAL INTELLIGENCE....this will cause HUGE unemployment. Greedy CEO'S wants to adapt AI everywhere ..... Start cursing on those intelligent MF working on AI projects.

[@anindansh2]

WACCEN WACCEN WACCEN WACCEN WACCEN WACCEN WACCENTURE😂

[@remoremo1847]

Whenever aopeaisal swason is around, these companies come woth these type of gimmicks