News Summary

• Accenture's recent earnings reveal a sharp decline in new bookings and a reduced guidance, sparking concerns about AI's impact on the IT services industry.
• While AI isn't officially blamed, the significant drop in orders suggests a deflationary effect.
• However, Indian IT firms are expected to remain resilient due to different geographical exposure and operational strengths.
• He expects concerns around AI replacing traditional IT services to fade over time.
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