JPMorgan Chase: artificial Intelligence such as ChatGPT will subvert IT of India

Beijing time on the evening of February 10, according to reports, JPMorgan Chase (J.P.Morgan) analysts said today that generative artificial intelligence (Generative AI) models such as ChatGPT, an artificial intelligence chat robot, will slow the growth of India's IT's market share and depress its service pricing in the short term.

With the wider deployment of generative artificial intelligence, consulting services companies such as Accenture and Deloitte will gain more market share in the short term than Indian IT companies such as Infosys and Wipro, JPMorgan analysts said in a note to clients.

JPMorgan analysts believe that generative artificial intelligence could become a burden on traditional services in the short term because it will compete with traditional services on pricing, forcing traditional services to retrain employees and making traditional services less competitive.

"ChatGPT is likely to be the biggest drag on traditional services and the least drag on application services," JPMorgan said. "

ChatGPT is an artificial intelligence chat robot developed by OpenAI. As soon as it was launched last month, it immediately became the focus of global attention and is now the fastest-growing consumer application in history.

Earlier this month, Microsoft announced an investment of about $10 billion (currently about 67.8 billion yuan) in OpenAI. Back in 2019, Microsoft made its first $1 billion (currently about 6.78 billion yuan) investment in OpenAI.

Since then, other big technology companies, such as Google's parent company Alphabet and Baidu, have rushed to announce their own generative artificial intelligence technology.

At IT in India, Infosys and Tata consulting services are likely to retrain staff faster than their smaller counterparts because they have a better graduate recruitment and training infrastructure, according to JPMorgan.