ServiceNow identifies India as one of its fastest-growing markets, particularly in AI-powered solutions for sectors like finance and healthcare. The company’s engineering centers in Bengaluru and Hyderabad contribute significantly to its operations, focusing on the development of agentic AI. This technology is seen as a transformative step for enterprises, with expected market growth over the next decade, even amid some hesitation regarding adoption.
ServiceNow, a provider of AI-driven software solutions, views India as one of its fastest-expanding markets outside the United States. This expansion is driven by clients in sectors such as financial services, telecommunications, and healthcare striving to automate their operations for enhanced efficiency and cost reduction. India, along with Mexico and Brazil, is identified as a high-growth market by the company, which collaborates with various public sector undertakings and government bodies to modernize citizen services.
Amit Zavery, President and Chief Product and Operations Officer, highlighted in an interview with Business Standard that India exhibits a double-digit growth rate, potentially becoming the largest market in the Asia-Pacific region soon. Notably, approximately 20 percent of ServiceNow’s workforce, equating to over 5,200 employees, is situated in engineering centers in Bengaluru and Hyderabad, with 40 percent of product engineering taking place in India.
The engineering teams in India are heavily involved in the development of agentic AI technologies, which facilitate the creation of AI agents through intuitive low-code tools. Zavery mentioned that the efforts from Indian teams also extend to cybersecurity, incident management, and enhancing user experiences. ServiceNow emphasizes its commitment to integrating agentic AI into its core platform as it represents significant growth potential, improving automation, accuracy, and customer experience.
The market for agentic AI is anticipated to grow from $5 billion to approximately $47 billion by 2030. However, some experts caution that enterprises remain hesitant to adopt generative and agentic AI due to uncertain returns on investment and the gradual pace of organizational change. Zavery, however, maintains that such hesitancy does not deter demand, asserting that a substantial portion of their clients is keen on transitioning to AI solutions this year.
Zavery remarked, “What our customers see with agentic AI is a game changer in terms of automation, predictability, efficiency, accuracy, and customer experience.” He further explained that while generative AI provides productivity enhancements for employees, agentic AI focuses on enterprise-level automation. He notes that exploring suitable use cases is essential to visibly demonstrate the technology’s value.
In the legal sector, for instance, agentic AI can significantly expedite contract management processes. ServiceNow collaborates with industry leaders such as Infosys and Cognizant and plays a pivotal role in aiding Visa’s payment fraud detection and dispute management workflows by employing AI to assess claims validity and streamline operations.
In summary, ServiceNow is placing significant emphasis on its growth in the Indian market, where it is experiencing substantial expansion driven by automation needs across various sectors. With a notable portion of its workforce based in India, the company is focusing on the development of agentic AI technologies to enhance service delivery and operational efficiency. Despite some hesitance in the broader enterprise landscape, the continued dedication to integrating AI solutions positions ServiceNow favorably for future growth opportunities.
Original Source: www.business-standard.com
