Phil Fersht — HFS Research[00:21]
Keshav, it’s great, great to connect with you again. I remember when you took the reins at WNS — I think it was back in 2010. It was just around the same time we founded HFS, so it’s in the memory quite well. Did you expect to be leading an AI-centric business services company back then? I mean, has our industry really changed that much? You’re such an expert of the industry and your firm is so well respected — I just thought you were around forever, right?
Keshav Murugesh — Group CEO, WNS[00:49]
But I really can’t believe it’s been 14 years already, Phil, and in the industry we essentially learn not to be surprised at fiction which turns into fact, and often I just keep myself prepared for change. I’m very, very excited at the leaps and bounds with which AI, and specifically generative AI, continues to surge ahead. Think of it: experimentation, POCs now seem to lead to large-scale deployments across various use cases. Speed as well as value now run side by side, and as leaders we realize there is just that much more to generative AI. We know that AI is really what I think is an extraordinary force that can create new frontiers of innovation as well as business performance, and how it really empowers enterprises, first of all, to reshape critical functions, invent newer business models, generate new ideas and concepts for products and services, and pursue additional revenue streams.
Phil Fersht — HFS Research[02:17]
Yeah, I mean, do you sense we’re living up to the deafening hype, or do you think there’s some pragmatism creeping in now?
Keshav Murugesh — Group CEO, WNS[02:27]
Well, pragmatism, if you ask me, is in my view expanding possibilities and not really constraining them. So I see disruptive tech like generative AI as a tailwind and not a headwind, and I think it is something that you have to learn to navigate, not fight. So leaders have now realized, I think, that unless AI becomes what I think is an enterprise-wide capability, and really a tool that is available to every business user and function, organizations really can never hope to leverage its full value, I would say. And therefore the initial excitement of GenAI is now giving way to discovering more realities that need to be addressed, and calling for efficient and effective governance models, I would say. Similarly, trust in the whole GenAI area is of such paramount importance and must now be built into all GenAI models and solutions. That’s what we think, at least, and we should now ensure AI transparency, AI accountability, and ethical imperatives in AI development at all levels. I also think that leaders must now ensure clear lines of responsibility, as well as actions and outcomes, are created. And finally, businesses I think must set these responsible AI standards, and all criteria of GenAI should be understood and documented, and must be readily available for people to validate.
Phil Fersht — HFS Research[04:14]
How can partnering with a business process management firm help companies? Shouldn’t they work directly with the more tech-driven companies? How does WNS, for example, get to the top table with this and really help companies develop their AI capability? I mean, let’s just look at a broad and typical GenAI kind of a journey.
Keshav Murugesh — Group CEO, WNS[04:44]
Well, it starts with brainstorming, outcomes, and potential use cases. It focuses on process, technology, and data requirements. It emphasizes talent acquisition for the execution. And therefore I would say that this places digital-led business transformation and service companies like us, like WNS, right in the center. Now look, we have vast experience in strategic as well as operational partnerships, and additionally we have a diverse portfolio of use cases, and we skillfully, I would say, mesh process, technology, as well as data. And our talent repository across functions, technologies, as well as domains is available on demand and on tap. And I would say that the human behind the wheel will continue to remain important for the long term too, Phil. So what are WNS’s roles as well as initiatives in all of this? First and foremost, I would say continuous and strategic investments have now enhanced our expertise in domains, advanced analytics, and all cutting-edge technologies, particularly GenAI. We have a really robust pipeline of use cases as well as digital assets with GenAI capabilities. We have successfully deployed customized solutions integrating GenAI across various service offerings as well as verticals. I think we have developed very robust frameworks for data security, compliance, as well as privacy, while promoting transparency, explainability, as well as mitigating bias, I would say. And similarly, WNS combines human intelligence with AI to drive real business outcomes for clients that go beyond simple cost reduction — driving top-line growth, improving customer retention, and really enhancing the quality of service.
Phil Fersht — HFS Research[07:01]
We keep forgetting we’re only 18 months into this — it’s still pretty early days. Where are you finding early successes with your clients? Like, where are you finding that they can get past some of these pilot projects and actually get into some production?
Keshav Murugesh — Group CEO, WNS[07:16]
In order to be successful, it’s important for us to build on the core that WNS stands for, which is domain specialism. And then around the fact that we also understand their data better, and as long as we’re able to leverage our data tools and also have access to their data, and then behind it add the relevant technologies — the combination of all of this means that we are the best people essentially to drive the right kind of outcomes for them. So I would say that the best areas where we’re seeing some of these successes is essentially where we drive outcomes, leveraging these three basic ingredients.
Phil Fersht — HFS Research[08:02]
India has such a buzzing startup community now, in addition to the GCCs that are expanding quite quickly, and you’ve got a lot of big tech now in India. So do you think these kids can be lured across to professional services to solve clients’ business problems? Is this an opportunity for companies like yours?
Keshav Murugesh — Group CEO, WNS[08:40]
Very interesting, Phil. Just a few hours ago I was at a NASSCOM Executive Council meeting where the deep tech team was presenting the opportunity of deep tech, as well as how deep tech from India can actually help transform businesses across the globe — and of course the opportunity as well as the problems, because with some of these businesses, particularly deep tech, they need humongous loads of money in order to keep investing and in order to be relevant. So I think businesses really must move beyond that initial excitement with GenAI, if you ask me, to really focus on practical steps now for long-term success. I think we should now leverage our buzzing startup community and exploding young talent, as we call it. Since you asked about India, India is now home to more than 60 GenAI startups, which have raised more than $600 million since 2019. And collaborating with such companies can exponentially expand possibilities as quickly as possible, to boost talent as well as create mutual value for business service firms as well as their clients and the startup community. So yes, I’m a big believer in this, Phil. And that’s one of the reasons why I spend so much time on India’s key initiatives around deep tech, AI, GenAI, and the new AI mission, which is very exciting, that India has announced — and the fact that all of this will lead to a multiplier effect with the startup ecosystem and bring more and more young people into this business, who will be creating more jobs instead of looking for jobs.
Phil Fersht — HFS Research[10:22]
Yeah, I mean, it’s just the ability to do everything a little smarter, slicker, more creatively is really changing mindsets and, hopefully, making this industry more appealing and challenging for talent. I think it’s the shot in the arm we needed.
Keshav Murugesh — Group CEO, WNS[10:47]
Yeah, absolutely. We’ll keep talking about all of this and see how it goes, but, you know, I’m very, very positive about the future.
Phil Fersht — HFS Research[10:50]
Good. Yeah, it’s great to see firms like yours really jumping on this and coming out quickly with exciting client stories, and trying to move clients beyond tinkering to actually implementing this at scale. So it’s good to hear. And it was great working with you guys on our study to really get to grips with what’s going on. So thank you very much for your time today. It’s been always good hearing from you and catching up with you after 14 years of this.
Keshav Murugesh — Group CEO, WNS[11:27]
Thank you, Phil, for, first of all, your friendship, and for this partnership as well. And yes, 14 is just a number — let’s make it 25 soon.
