Dodging ‘SaaSocalypse’: AI’s enterprise moment may belong to IT services (opens the source in a new tab)
- ITC Infotech’s merger with Happiest Minds follows Persistent’s buy of Nagarro: a sign of mid-market consolidation?
- AI’s first job may be quietly automating costly legacy systems, freeing money for the next wave of AI.
- Tie-ups between OpenAI, Anthropic and IT majors such as TCS and Accenture show models need distribution.
- $1.5tn
- enterprise tech debt (est.)
- $500bn
- yearly legacy-system upkeep
- ~25%
- top global firms’ m-cap fall in 2026
Why it matters Indian IT’s bet: AI still needs integrators to reach messy, regulated real businesses.
Other side If AI automates the legacy work IT firms bill for, revenue may shrink well before new work arrives.