Market expert Sudip Bandyopadhyay in an interview to ET Now noted, “They have done a fantastic job and are clearly gaining from enterprise AI spending.” He explained that such divergence is not unusual in the technology sector, adding, “There is a time lag between orders and revenue translation.” Despite the cautious outlook, he remains optimistic that Accenture may outperform its guidance, stating, “They are being conservative and could end closer to 5% growth.”
A key shift in Accenture’s reporting was the decision to stop disclosing AI revenues separately and instead integrate them into its core business. This reflects a broader structural change within the IT services industry, where AI is rapidly becoming a standard offering rather than a premium differentiator. As Bandyopadhyay put it, “AI is not a premium anymore, it is a necessity.” He emphasized that clients are increasingly expecting efficiency gains and cost savings from AI-led solutions, saying, “Customers expect cost savings and efficiency from AI.” In such an environment, companies that fail to adapt risk losing relevance, with Bandyopadhyay warning, “If you cannot provide AI solutions, you will lag behind peers.”
Traditionally, Accenture’s earnings have been viewed as a bellwether for Indian IT majors such as TCS, Infosys, and HCLTech. However, the current phase of technological disruption may weaken this correlation. Bandyopadhyay cautioned that the landscape is evolving, noting, “The game is changing and Accenture moved early into AI.” He highlighted that companies are progressing at different speeds in their AI adoption journeys, which will likely reflect in their financial performance. “Different companies are at different stages of AI adoption,” he said, adding that this divergence may persist for some time. “This gap will continue until others catch up.”
The broader takeaway is that the IT services sector is entering a new phase, where the pace of AI integration will define winners and laggards. While strong deal pipelines remain encouraging, revenue visibility will depend on execution timelines and the ability to embed AI effectively into service offerings. For investors, this signals a shift towards a more selective approach, focusing on companies that are ahead in the AI curve rather than relying on traditional sector-wide trends.
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