Archive · 7 Jun 2025
Cognizant Sees Cautious Optimism Amidst Economic Pressures and AI
Cognizant's President of Americas, Surya Gummadi, says that businesses are being disrupted by new AI technology.
Because of economic pressures and AI, clients want to pay for outcomes.
Tariffs are making companies cautious, especially in life sciences, product, manufacturing, and retail.
Despite these challenges, Cognizant signed more large deals in 2024 compared to 2023 and extended a major healthcare contract.
Cognizant's total bookings for 2024 reached $27.1 billion.
Surya Gummadi discussed the impact of GenAI and economic pressures on Cognizant.
Clients are shifting towards outcome-based pricing for IT services.
Tariffs are causing caution in sectors like life sciences and retail.
Cognizant secured three mega deals by the end of Q2 2024.
Cognizant's full-year trailing 12-month booking for 2024 was $27.1 billion.
- Who
- Surya Gummadi, President of the Americas business at Cognizant
- What
- Cognizant's perspective on current market trends, including the impact of tariffs and AI, and its business performance.
- When
- During the recent Bank of America Securities 2025 Global Technology Conference
- Where
- Bengaluru
- Why
- Clients are looking for cost optimization, and GenAI is disrupting businesses.
Client Cost Concerns
Cognizant's Strategy
Pricing Models
Client Cost Concerns
Clients are focused on cost optimization and breaking silos.
Cognizant's Strategy
Clients are moving towards outcome-based pricing due to GenAI disruptions.
- Key Figure
- Surya Gummadi, President of the Americas business at Cognizant
- Event Mentioned
- Bank of America Securities 2025 Global Technology Conference
- Major Disruptor
- Uncertainty due to GenAI
- Economic Factor
- Tariff wars triggered by US President Donald Trump
- Deal Count (2024)
- 29 large deals signed in 2024
- Deal Count (2023)
- 17 large deals signed in 2023
- 2024 Full-Year Bookings
- $27.1 billion