This is my assessment as well. Corporate IT spend is unavoidable though cyclical. Whatever you hold back this year you spend with vengeance after one or two years.
Anecdotal evidence suggests that companies across industries have Gen AI pilot projects and results are promising. One large British company I know expects to revamp its entire IT infrastructure in the next two years to make good use of AI. I would assume this pattern would repeat widely.
Disc: Super heavily invested in Indian IT services and Nadaq
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