If you can’t beat ’em, join ’em: HCLTech charts new AI path with Sarvam stake

Artificial intelligence solutions to artificial intelligence problems

This development comes against the backdrop of an AI-led attack on IT stocks amid fears that increasing automation tools could make IT services obsolete. TCS, Infosys, HCLTech, Wipro and Tech Mahindra is down 32%, 29.7%, 30%, 31% and 10.1%, respectively, year-to-date. Still, shareholders welcomed HCLTech’s announcement, with its shares rising 2.1% in trading hours on Tuesday.