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Time of India
20 hours ago
- Business
- Time of India
With AI on the rise, developer rates decline
Bengaluru: The 2025 Accelerance Global Software Outsourcing Trends and Rates Guide showed a global decline in software developer hourly rates, with decreases ranging from 9% to 16% across many regions. Tired of too many ads? go ad free now Latin America is the notable exception, where rates have remained steady. The report highlighted harder client negotiations, off-rate card deals, and cost takeout deals increasingly being offered by outsourcing partners to get projects over the line. Developer hourly rates declined across several key regions, with Eastern Europe seeing a 9% drop, and both South Asia and Southeast Asia experiencing steeper reductions of 16%. The 2025 edition of the report reviews data from 2024, comparing it to 2023 figures. It analyses median pricing across all software development roles, based on the latest survey results. This downward trend highlights a softening demand environment, driven by restrained enterprise IT budgets and increased discounting by software development firms competing for limited business in a crowded market. Peter Bendor-Samuel, founder and chairman of the Everest Group, said, "Over the last month, we are seeing much more aggressive pricing shifts than these as firms seek to capture the benefits of AI and are using AI aggressively with their internal teams, reducing the need for external support. The reason that Latin American rates are holding up is that in the new AI-driven apps world, time zone proximity is increasingly important, and we are seeing that translate into higher productivity, which in turn allows for higher or at least sustained rates. " Ray Wang, chief executive of Constellation Research, said AI has driven down the cost of software development. "In fact, we just saw a new firm, Soul of the Machine, headed by the legendary Sunil Karkera, beat out a major who bid a project with over 100 people and a 12-month timeline. Tired of too many ads? go ad free now He won a bid with less than 10 people in half the time. This is AI native scale." About 50% of Accelerance's respondents anticipate raising their rates by 1% to 5% within the next six months. This signals a departure from the double-digit growth in developer rates that defined the pandemic years. While inflation and ongoing shortages in high-demand tech roles will continue to drive price increases for some specialised skills, outsourcing providers are also offering more discounts and off-rate card deals. The integration of AI is reshaping various aspects of the software development lifecycle. Last year, Amazon CEO Andy Jassy announced a demonstration of the tangible value of the Amazon Q Developer agent for code transformation. With its help, Amazon successfully migrated tens of thousands of production applications from Java 8 or 11 to Java 17. This effort saved more than 4,500 years of manual development work across over a thousand developers and delivered performance gains amounting to $260 million in annual cost savings—underscoring the powerful impact of AI-assisted modernisation at scale. AI will play a much larger role in software development, with estimates suggesting that up to 70% to 90% of development tasks could be AI-driven by 2025 to 2027. Phil Fersht, CEO of HfS Research, said, "Our research shows 83% of US enterprises are increasing their investments in automation and AI because of the current tariffs and geopolitical instability." He said, "The market didn't twitch last Monday after Israel's attack on Iran, but I wonder what they will do on Monday, especially now the Strait of Hormuz is closed. . Trump's 90-day window on tariffs is also about to close with no real deals anywhere, and traditional 'big deals' business is very slow now in our industry."
Yahoo
13-05-2025
- Business
- Yahoo
Enterprises eye AI assistants to modernize systems
This story was originally published on CIO Dive. To receive daily news and insights, subscribe to our free daily CIO Dive newsletter. Enterprises are turning to generative AI tools to drive modernization and cut through technical debt, according to Publicis Sapient. The digital consulting firm commissioned HFS Research to survey more than 600 IT and business leaders for a report published Thursday. Four in 5 respondents expect generative AI coding assistants to help them break free from managing outdated systems by documenting legacy applications, rewriting old code and automating software testing, the report found. Technical debt is an expensive headache, accounting for $1.5 trillion to $2 trillion in spending among Global 2000 companies, according to HFS Research. 'Tech debt isn't just a weight — it's a ticking time bomb that's threatening the future of global enterprises,' the firm's Chief Analyst and CEO Phil Fersht said in the report. As coding assistants rose to the top of a heap of generative AI use cases with ROI potential, vendors mobilized to deploy tools trained to decipher and refactor decades-old applications. IBM taught watsonx more than 100 programming languages and trained its open model to translate COBOL applications into Java. AWS trained its AI assistant, Amazon Q Developer, to build applications and set the tool loose on mainframe modernization last year. As cloud and enterprise software vendors rolled out similar capabilities, banking became a proving ground for the technology, according to Accenture. Goldman Sachs saw its army of 12,000 developers achieve efficiency gains of roughly 20% with GitHub Copilot, the company's CIO Marco Argenti told CIO Dive last month. Bank of America and Citigroup saw similar returns on AI investments. Enterprises across industries can cut years off of modernization initiatives by harnessing the technology, according to Sheldon Monteiro, Publicis Sapient EVP and chief product officer. 'AI really is a jackhammer,' Monteiro said in an interview. 'CIOs need to be thinking about this in terms of some pretty major concrete breaking.' Publicis Sapient inked a five-year partnership with AWS to build AI-powered modernization tools in March. In addition to leveraging the hyperscaler's cloud-based services, the alliance aims to expand the reach of the Sapient Slingshot software development platform. The modernization opportunities are vast, according to HFS Research. A $1.5 trillion IT industry has grown up around servicing rather than eliminating technical debt, the firm estimates. Enterprises spend an average of nearly 30% of IT budgets maintaining legacy technologies, the report found. Yet, fewer than one-third of respondents said their organization has modernized core applications. 'Something's broken in the way clients are buying IT services and the way the service industry has been incentivized,' Monteiro said, pointing to a tendency to see staff augmentation as a means of containing technical debt. Monteiro added, 'If modernization is going to take 10 years to complete, what CIO is going to look at that with any sense that it can get done within their tenure?' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
01-05-2025
- Business
- Yahoo
Zacks Investment Ideas feature highlights: Amazon, Microsoft and Alphabet
Chicago, IL – April 30, 2025 – Today, Zacks Investment Ideas feature highlights Amazon AMZN, Microsoft MSFT and Alphabet GOOGL. Amazon's first-quarter 2025 results, scheduled to be released on May 1, are likely to reflect gains from its strengthening cloud service offerings. Amazon Web Services ('AWS') remains the crown jewel in Amazon's portfolio, with the Zacks Consensus Estimate projecting AWS sales of $29.31 billion for first-quarter 2025, indicating robust 17.1% year-over-year growth. . This performance continues to solidify AWS' position as the market leader, competing effectively against Microsoft Azure and Alphabet-owned Google Cloud. Recent industry data confirms AWS' dominant market position, with the three top cloud providers for a whopping 68% of the global cloud market in the fourth quarter of 2024, according to new data from IT market research firm Synergy. AWS strengthened its global infrastructure in the first quarter with the launch of new regions in Thailand and Mexico, representing multi-billion-dollar investments that are expected to contribute significantly to each country's GDP. The Mexico (Central) Region launch marked a $5 billion investment commitment over 15 years, while the Thailand Region similarly demonstrated Amazon's confidence in emerging markets. Inc. price-eps-surprise | Inc. Quote Click here to know how the company's overall first-quarter performance is likely to have been. The first quarter saw AWS announce several high-profile strategic collaborations. Notable partnerships include the multi-year agreement with Fitch Group to leverage Amazon Q Developer generative AI technology, which reportedly improved developer productivity by approximately 20%. AWS also expanded its long-standing relationship with Pearson to accelerate AI-powered learning solutions that will serve millions of users globally. Other significant partnerships formed during the quarter include agreements with Proximus Group to provide global cloud infrastructure, Montefiore Health System for healthcare innovation, and Mitsubishi Electric for data center solutions and digital transformation initiatives. These partnerships demonstrate AWS' versatility across financial services, education, telecommunications, healthcare, and manufacturing sectors. AWS continued to integrate AI capabilities throughout its service offerings in the first quarter. The quarter saw Amazon Ads bringing generative AI capabilities to Amazon Marketing Cloud with a new SQL Generator, enabling advertisers to develop insights faster using natural language. The company also made significant strides in implementing generative AI through Amazon Bedrock across various industries. The automotive sector emerged as a particularly strong growth area, with Honda leveraging AWS for transitioning to software-defined vehicles and improving EV charging experiences with generative AI. Similar collaborations with HERE Technologies and Valeo further demonstrate AWS' expanding footprint in the automotive space. As Amazon approaches its first-quarter 2025 earnings report, AWS' performance shows promising indicators with strong revenue growth projections and strategic expansion across multiple fronts. The continued investment in AI capabilities, strategic partnerships spanning diverse industries, and geographic expansion all position AWS to maintain its cloud dominance. However, investors should consider that while AWS remains a powerful growth engine, market expectations for continued cloud acceleration are already high. The substantial investments in new geographic regions and AI development may pressure near-term margins. These factors suggest that while AWS performance appears strong, investors might consider waiting for more clarity on profitability metrics and the return on these investments before increasing positions ahead of this Zacks Rank #3 (Hold) company's earnings report. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year. Today you can access their live picks without cost or obligation. See Stocks Free >> Media Contact Zacks Investment Research 800-767-3771 ext. 9339 support@ Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit for information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Inc. (AMZN) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Globe and Mail
29-04-2025
- Business
- Globe and Mail
Will Strong AWS Performance Boost Amazon's Q1 Earnings Report?
Amazon 's AMZN first-quarter 2025 results, scheduled to be released on May 1, are likely to reflect gains from its strengthening cloud service offerings. Amazon Web Services ('AWS') remains the crown jewel in Amazon's portfolio, with the Zacks Consensus Estimate projecting AWS sales of $29.31 billion for first-quarter 2025, indicating robust 17.1% year-over-year growth. See the Zacks Earnings Calendar to stay ahead of market-making news. This performance continues to solidify AWS' position as the market leader, competing effectively against Microsoft MSFT Azure, Alphabet GOOGL -owned Google Cloud, and Oracle ORCL. Recent industry data confirms AWS' dominant market position, with the three top cloud providers for a whopping 68% of the global cloud market in the fourth quarter of 2024, according to new data from IT market research firm Synergy. AWS strengthened its global infrastructure in the first quarter with the launch of new regions in Thailand and Mexico, representing multi-billion-dollar investments that are expected to contribute significantly to each country's GDP. The Mexico (Central) Region launch marked a $5 billion investment commitment over 15 years, while the Thailand Region similarly demonstrated Amazon's confidence in emerging markets. Click here to know how the company's overall first-quarter performance is likely to have been. Strategic Collaborations of AWS Strengthen's AMZN's Position in Q1 The first quarter saw AWS announce several high-profile strategic collaborations. Notable partnerships include the multi-year agreement with Fitch Group to leverage Amazon Q Developer generative AI technology, which reportedly improved developer productivity by approximately 20%. AWS also expanded its long-standing relationship with Pearson to accelerate AI-powered learning solutions that will serve millions of users globally. Other significant partnerships formed during the quarter include agreements with Proximus Group to provide global cloud infrastructure, Montefiore Health System for healthcare innovation, and Mitsubishi Electric for data center solutions and digital transformation initiatives. These partnerships demonstrate AWS' versatility across financial services, education, telecommunications, healthcare, and manufacturing sectors. Amazon's AI Integration Drives Growth in Q1 AWS continued to integrate AI capabilities throughout its service offerings in the first quarter. The quarter saw Amazon Ads bringing generative AI capabilities to Amazon Marketing Cloud with a new SQL Generator, enabling advertisers to develop insights faster using natural language. The company also made significant strides in implementing generative AI through Amazon Bedrock across various industries. The automotive sector emerged as a particularly strong growth area, with Honda leveraging AWS for transitioning to software-defined vehicles and improving EV charging experiences with generative AI. Similar collaborations with HERE Technologies and Valeo further demonstrate AWS' expanding footprint in the automotive space. Investment Perspective As Amazon approaches its first-quarter 2025 earnings report, AWS' performance shows promising indicators with strong revenue growth projections and strategic expansion across multiple fronts. The continued investment in AI capabilities, strategic partnerships spanning diverse industries, and geographic expansion all position AWS to maintain its cloud dominance. However, investors should consider that while AWS remains a powerful growth engine, market expectations for continued cloud acceleration are already high. The substantial investments in new geographic regions and AI development may pressure near-term margins. These factors suggest that while AWS performance appears strong, investors might consider waiting for more clarity on profitability metrics and the return on these investments before increasing positions ahead of this Zacks Rank #3 (Hold) company's earnings report. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028. See This Stock Now for Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Inc. (AMZN): Free Stock Analysis Report Microsoft Corporation (MSFT): Free Stock Analysis Report Oracle Corporation (ORCL): Free Stock Analysis Report Alphabet Inc. (GOOGL): Free Stock Analysis Report
Business Wire
24-04-2025
- Business
- Business Wire
Thoughtworks Signs Global Strategic Collaboration Agreement with AWS
CHICAGO--(BUSINESS WIRE)-- Thoughtworks, a global technology consultancy that integrates design, engineering and AI to drive digital innovation, today announced a three-year global Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS) to help accelerate modernization and migration to AWS. This SCA leverages Thoughtworks' proven software and data engineering frameworks, strategies and methodologies combined with AWS' advanced generative AI services, including Amazon Bedrock and Amazon Q, to speed up clients' digital journeys. As part of the agreement, Thoughtworks and AWS will work together to develop generative AI-powered solutions that run on AWS for clients across several verticals including banking, financial services, insurance, healthcare, life sciences, manufacturing and automotive industries. Through use of Amazon Bedrock, which offers a vast selection of proven foundation models (FMs) from leading AI companies like AI21 Labs, Anthropic, Cohere, Meta, Mistral AI and Stability AI, and includes Amazon Nova, a new generation of FMs, customers can test and deploy solutions to solve industry use-cases. Additionally, the companies will also co-create a cloud strategy to drive operational excellence for clients. That includes using Amazon Q Developer, one of the most capable generative AI assistants for software development, to take the heavy-lifting out of complex and time-consuming application migration and modernization projects, saving customers time and money. 'Together with AWS, Thoughtworks is committed to helping organizations driven by efficiency and cost optimization demands to build a migration and modernization strategy that will improve cost and efficiency while reducing risk with better compliance and security,' said Gene Reznik, Chief Strategy Officer and Global Head of Service Lines, Thoughtworks. 'As we continue to create customized cloud strategies that align with our clients' unique needs, our strategic collaboration agreement with AWS is crucial to helping ensure clients' cloud investments deliver meaningful business outcomes.' 'Our expanded collaboration with Thoughtworks provides customers with ready-made, industry-specific solutions that combine AWS's advanced generative AI services with Thoughtworks' engineering expertise to accelerate business outcomes,' said Chris Sullivan, Vice President, Americas Channels & Alliances at AWS. 'Whether looking to modernize a legacy application or build a new product experience, this collaboration will give customers across industries the tools they need to innovate faster while benefiting from the security, reliability and resiliency of AWS's global infrastructure." Thoughtworks has been partnering with First Student, the largest provider of student transportation services and leading operator of electric school buses in North America, since 2023. In support of First Student's new alternative transportation division, FirstAlt, Thoughtworks built a digital platform on AWS to match specialized vehicles to student transportation needs and a mobile first app that provides end-to-end ride visibility, allowing for the safest ride experience for students, their families and school districts. 'We selected Thoughtworks as a trusted collaborator to transform our business at speed and scale in the cloud with AWS. We saw strong results from the creation and launch of First Alt which provides school districts with a safe and reliable transportation option for students with special needs, students experiencing homelessness, out-of-district students and hard-to-serve trips,' said Sean McCormack, CIO, First Student. 'The collaboration we're seeing between Thoughtworks and AWS continues to ensure our cloud investments deliver meaningful business outcomes as we drive the future of school transportation through investment in digital technology and further expanding our AI capabilities.' The collaboration between Thoughtworks and AWS will benefit clients by: Accelerating Generative AI (GenAI) efforts: This SCA will help clients achieve a cohesive and forward-thinking GenAI strategy that leverages the full potential of data and AI. Thoughtworks will also leverage Haiven™ team assistant, an AI-enabled knowledge amplifier, to augment teams' expertise across all industry verticals and to accelerate tasks across the software delivery lifecycle. Thoughtworks' comprehensive approach to GenAI implementation provides an end-to-end capability to help customers move quickly from strategy development and proofs of concept to production-ready solutions. Creating industry-focused solutions: The companies will build technology integrations across industry verticals such as core banking and legacy payment modernization for the banking, financial services and insurance industries. Following the launch of the co-created SDV Pulse report, the companies will be introducing solutions that address capabilities such as Continuous Compliance for Vehicle DevOps and engineering efficiency. In healthcare and life sciences, the companies will help clients to break down silos for more efficient data sharing and insights for enhanced innovation. Accelerating enterprise platform modernizations: Thoughtworks' deep engineering expertise and proven practices in legacy modernizations, combined with AWS funding through programs such as the Migration Acceleration Program (MAP), creates a powerful synergy. Thoughtworks will also leverage CodeConcise Legacy Assistant, an AI-enabled tool, to help clients assess legacy systems, tackle capability gaps and reduce the time and effort required to reap the rewards of enterprise modernization. Fueling our strategic collaboration: The strategic three-year collaboration will be underpinned by joint investment between AWS and Thoughtworks towards joint market development, opportunity acceleration, AWS training and certification, expansion of AWS-specialized sales and technical teams and technical development of new cloud and AI solutions. Thoughtworks has been helping clients migrate to AWS since 2006. Most recently, Thoughtworks has earned the AWS GenAI Competency. With over 500 AWS-certified Thoughtworkers globally across a variety of specializations, Thoughtworks has invested in training to gain a deeper and wider scope of expertise with which to help clients achieve their goals. Supporting resources: About Thoughtworks Thoughtworks is a global technology consultancy that integrates design, engineering and AI to drive digital innovation. We are over 10,000 Thoughtworkers strong across 48 offices in 19 countries. For 30+ years, we've delivered extraordinary impact together with our clients by helping them solve complex business problems with technology as the differentiator.
