“Mayur Patel holds a cautious to bearish view on the Indian IT services sector for the long term due to fundamental AI-led disruption. He warns that AI targets core effort-based revenue, potentially pressuring traditional revenue streams and causing structural margin and growth erosion for incumbents reliant on legacy delivery models and labour arbitrage. Only firms that swiftly adapt and demonstrate AI expanding their addressable opportunity, rather than just compressing effort, are well-positioned.”