According to Infosys cofounder Kris Gopalakrishnan, the IT industry is projected to reach $350 billion by 2030, up from $200 billion in 2017 levels.
Speaking at the opening ceremony of the three-day Bengaluru Tech Summit 2023, Gopalakrishnan—who is also the head of the vision group for IT in Karnataka—was in attendance.
Productivity, consumer value, and the quality of the user interface are all positively impacted by technological advancements. Every aspect of life is impacted by information technology. The IT industry had a 9% growth rate last year. He announced that the industry, which has been expanding annually for the last five years, is currently worth $200 billion and is projected to reach $350 billion by 2030.
The world's fastest-growing application technologies—ChatGPT, GPT4, and Generative AI—were announced just last November, he added, and technology is always evolving.
The introduction of new technology with broad applicability necessitates "multiple interventions," according to Gopalakrishnan. "Every field, business, and use case evolves. Our whole relationship with data, computers, and AI is evolving. This round's standout feature is the chat interface that allows players to communicate with AI systems. Therefore, it facilitates the democratization of AI.
In spite of the recession in the global economy, he expressed great confidence in the industry. He maintained his confidence in the industry's ability to reach $350 billion in the medium to long term, saying that these are just cycles.
According to Gopalakrishnan, if Karnataka wishes to maintain its position as the nation's leading IT services provider—an industry that it controls over 40% of—the state must engage in discussion, debate, and strategy.
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