Tariffs have led to caution in the life sciences segment: Cognizant's Gummadi
Bengaluru: As clients look for cost optimisation, they aim to break silos and move towards consolidating their IT services partners.
"They want a partner who can give end-to-end solutions," Surya Gummadi, President of the Americas business at
Cognizant
, said during the recent Bank of America Securities 2025 Global Technology Conference.
With GenAI disrupting businesses, Gummadi felt pricing will evolve significantly in the next six months as clients move towards outcome-based pricing.He said AI brought a great deal of uncertainty, adding to the macroeconomic pressures.
That, he points out, is the difference between the previous cycles of the economic crisis. He, however, believes GenAI will create newer opportunities for Cognizant.
Meanwhile, the tariff war triggered by US President Donald Trump impacted business sentiment in life sciences, product and manufacturing, as well as retail, he told Bank of America analysts.
"There is some caution in the healthcare space. Tariffs have led to caution in the life sciences segment. Product and manufacturing clients are dealing with tariff uncertainty, and retail clients have also shown it in their guidance.
All this is having a cascading effect on IT projects," Gummadi said. Despite the tough environment, Cognizant signed three mega deals by the end of the second quarter.
Cognizant started to see an uptick in deal momentum, in general. Compared to 2023, when the firm signed 17 large deals, the New Jersey-headquartered IT services firm signed 29 large deals in 2024. In a choppy environment, CTS managed to get an extension of its contract with the healthcare client, which is a $1 billion deal. The full-year trailing 12-month booking for 2024 was $27.1 billion.
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Because the bigger risk isn't that AI takes your job. Also read: Why AI is central to the new browser wars It's that you're still in the role, still showing up every day—but slowly pushed out of the decisions. Not because you can't contribute. But because no one gave you the chance to learn how. And by the time you notice what's changed, the work has already moved on—without your voice in the room. Pankaj Mishra is a journalist and co-founder of FactorDaily. He has spent over two decades reporting on technology, startups, and work in India with a focus on the people and places often left out of the spotlight.
