LTIMindtree to spend $40-50 million on AI capabilities in FY24

LTIMindtree plans to spend $40-50 million on artificial intelligence (AI) capabilities and offerings in the current fiscal to build a steady revenue stream from the emerging technology, a top company executive said.

“If you’re looking at three to five years (timeframe), this (AI-related spend) will only increase as the monetisation opportunities increase,” Nachiket Despande, chief operating officer of LTIMindtree, told ET.