ServiceNow Recognizes India as Key Market with Focus on Agentic AI

ServiceNow views India as a critical growth market, focusing on agentic AI to enhance business efficiency. President Amit Zavery noted that India is seeing a double-digit growth rate, and the company is leveraging its engineering centers in Bengaluru and Hyderabad for significant AI developments. ServiceNow anticipates agentic AI to become a cornerstone of enterprise automation with an expanding market projection, underscoring the potential for transformative impacts across various sectors.

ServiceNow, a provider of artificial intelligence (AI)-driven software solutions, identifies India as one of its fastest-growing markets outside the United States. The company highlights that clients in sectors such as financial services, telecommunications, and healthcare are increasingly seeking to automate substantial aspects of their operations to enhance efficiency and reduce costs. Besides India, ServiceNow also recognizes Mexico and Brazil as key high-growth markets where they collaborate with various public sector undertakings and governmental bodies to streamline citizen services.

Amit Zavery, President and Chief Product and Operations Officer, stated that India exhibits the highest growth rate for ServiceNow globally, with a notable double-digit increase. He anticipates that India will soon emerge as the leading market in the Asia-Pacific region. Currently, 20 percent of ServiceNow’s workforce, representing over 5,200 employees, is located in its engineering centers in Bengaluru and Hyderabad, contributing significantly to product development.

Much of the engineering activities at these centers focus on agentic AI, particularly through initiatives like AI studios which allow customers to create AI agents using low code tools. Zavery emphasized that engineers in India also engage in projects related to cybersecurity, incident management, and enhancing user experience.

ServiceNow is heavily investing in agentic AI, which it considers to be a fundamental aspect of its platform aimed at boosting efficiency, predictability, and real-time decision-making support. With a projected market size for agentic AI expected to reach $47 billion by 2030—an increase from $5 billion in the previous year—there is considerable potential for growth.

Notably, experts observe that many organizations remain cautious regarding the adoption of Generative AI and agentic AI due to uncertain return on investment and the time required for structural changes. However, Zavery remains optimistic, suggesting that “What our customers see with agentic AI is a game changer in terms of automation, predictability, efficiency, accuracy, and customer experience.” He reported that 50 percent of ServiceNow’s global customers aspire to adopt AI technologies within the current year.

Differentiating agentic AI from Generative AI, Zavery stated, “While GenAI is just productivity gain for individual employees, agentic is for enterprises. That is why we see large amounts of implementations starting to happen.” He noted that agentic AI facilitates enterprise automation by evolving beyond earlier application models. Zavery pointed out the legal sector as particularly benefiting from these innovations, especially in areas such as contract management.

ServiceNow’s clientele includes industry leaders such as Infosys and Cognizant, as well as collaborations with Visa to enhance payment fraud detection and dispute management workflows. Through these partnerships, ServiceNow utilizes AI technology to assess the validity of credit card charge disputes, thereby automating complex processes effectively.

In conclusion, ServiceNow recognizes India as a pivotal market for growth, driven by advancements in agentic AI. With significant investments and a focus on automation, the company is optimistic about its prospects in the region. The emergence of agentic AI as a transformative technology positions ServiceNow to provide substantial efficiency gains for its enterprise clients as they navigate the evolving landscape of AI integration.

Original Source: www.business-standard.com