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What is the story about?
Artificial intelligence will eliminate a large number of existing technology roles, but it will also create a new generation of jobs, with more than 90% of future positions in IT expected to be connected to AI, Cognizant CEO Ravi Kumar said at the World Economic Forum in Davos.
Speaking at WEF 2026, Kumar said the next three years would be a phase of “big and bold bets” for the global technology industry, with AI fundamentally reshaping how software is built and how companies operate.
“We are taking classical software and writing it differently. The future is about doing more for less by applying AI to operations,” he said, adding that the IT services sector in India, as a bellwether for the economy, was structurally positioned for double-digit growth.
Jobs to increase at the bottom
Kumar said productivity gains were already visible, with Cognizant seeing a 10% increase in revenue per employee. While certain roles would become redundant, he said demand would rise sharply for specialised skills, particularly at entry levels, leading to higher wages and broader job creation over time.
“Wage growth will start to trickle down to a large number of employees. We will see more jobs at the bottom by generating higher productivity,” he noted.
On strategy, Kumar said M&A would be layered with organic growth, with a sharper focus on AI-led capabilities and an expansion of the company’s presence in Europe, where it currently trails some peers.
Talks on Cognizant India IPO
He also said Cognizant was in advanced discussions with Indian regulators on a potential local listing, describing the engagement as “constructive” and adding that the company aimed to be among the first global IT firms to complete the process.
“With AI as a tailwind, this industry is built for double-digit growth. The next few years should take us back to the glory days of technology,” Kumar said.
Speaking at WEF 2026, Kumar said the next three years would be a phase of “big and bold bets” for the global technology industry, with AI fundamentally reshaping how software is built and how companies operate.
“We are taking classical software and writing it differently. The future is about doing more for less by applying AI to operations,” he said, adding that the IT services sector in India, as a bellwether for the economy, was structurally positioned for double-digit growth.
Jobs to increase at the bottom
Kumar said productivity gains were already visible, with Cognizant seeing a 10% increase in revenue per employee. While certain roles would become redundant, he said demand would rise sharply for specialised skills, particularly at entry levels, leading to higher wages and broader job creation over time.
“Wage growth will start to trickle down to a large number of employees. We will see more jobs at the bottom by generating higher productivity,” he noted.
On strategy, Kumar said M&A would be layered with organic growth, with a sharper focus on AI-led capabilities and an expansion of the company’s presence in Europe, where it currently trails some peers.
Talks on Cognizant India IPO
He also said Cognizant was in advanced discussions with Indian regulators on a potential local listing, describing the engagement as “constructive” and adding that the company aimed to be among the first global IT firms to complete the process.
“With AI as a tailwind, this industry is built for double-digit growth. The next few years should take us back to the glory days of technology,” Kumar said.
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