ServiceNow views India as one of its fastest-growing markets globally, particularly in AI-driven automation for various sectors like finance and healthcare. With over 20% of its workforce in India, the company aims to leverage agentic AI to enhance enterprise efficiency. President Amit Zavery anticipates significant growth in this region, despite cautious adoption rates for advanced AI technologies. Notable collaborations include partnerships with Visa for fraud detection processes.
ServiceNow, a provider of AI-powered software solutions, identifies India as one of its fastest-growing markets outside the United States. This observation arises as organizations across financial services, telecommunications, and healthcare sectors increasingly aim to automate their operations for enhanced efficiency and reduced costs. Alongside Mexico and Brazil, India is acknowledged as a “high-growth market,” where ServiceNow collaborates with several public sector entities and government agencies to modernize citizen services through automation.
According to Amit Zavery, President and Chief Product and Operations Officer, “India is the fastest growing market for us globally with a double digit growth rate.” He expressed optimism that India will soon emerge as the largest market in the Asia-Pacific region. Approximately 20 percent of ServiceNow’s workforce, totaling over 5,200 employees, operates from engineering centers in Bengaluru and Hyderabad, which are responsible for 40 percent of the company’s product engineering efforts.
Much of the engineering work conducted at the Indian centers focuses on agentic AI. For instance, AI Studios enable clients to create AI agents using low-code tools. In addition to this, engineers are involved in sectors such as cybersecurity and incident management, all of which enhance user experience. Zavery, who formerly led Google Cloud, emphasized the importance of agentic AI in shaping the company’s next growth phase as it becomes an integral part of their platform, boosting efficiency, predictability, and real-time decision-making.
Agentic AI, where automated systems assume significant roles in human operations, is projected to become a major technological frontier, with an anticipated market size of approximately $47 billion by 2030, up from last year’s $5 billion. Despite this potential, experts note that businesses remain cautious in adopting Generative AI and agentic AI due to uncertain returns on investment and the time required for structural organizational changes. Zavery, however, remains undeterred, asserting that agentic AI presents transformative automation strategies for enterprises.
He stated, “What our customers see with agentic AI is a game changer in terms of automation, predictability, efficiency, accuracy, and customer experience. Fifty percent of our customers globally want to be in AI mode this year.” Zavery highlighted that while Generative AI primarily enhances productivity for individuals, agentic AI provides substantive benefits for enterprises. He emphasized the importance of selecting appropriate use cases to illustrate the value of agentic AI.
For instance, the legal sector greatly benefits from both Generative AI and agentic AI technologies, particularly in the areas of contract management and expedited review processes. ServiceNow counts prominent companies such as Infosys, Cognizant, and Visa among its clientele, collaborating with Visa to automate their payment fraud detection and dispute management workflows. Through the application of AI, ServiceNow assesses the validity of claims related to credit card disputes, thus streamlining the workflow.
In summary, ServiceNow recognizes India as a crucial and rapidly expanding market for its AI solutions, highlighted by significant employee presence and engineering efforts. The company is committed to leveraging agentic AI to drive enterprise automation and increase operational efficiency. Despite cautious optimism in the industry about adopting generative and agentic AI, ServiceNow anticipates continued demand, particularly as organizations look to enhance customer experience and streamline processes. With strategic implementations and a focus on specific use cases, ServiceNow is well-positioned for future growth in India and beyond.
Original Source: www.business-standard.com
